REGISTERED COMPANY NUMBER: 02914384 (England and Wales) REGIsfERED CHARITY NUMBER: 1046018 REPORT OF THE TRusfEES AND AUDITED FINANCIAL sfATEMENTS FOR The YEAR ENDED 31 MARCH 2024 FOR crrIzENS ADVICE MERTON AND LAMBEfH LIMrrED (A COMPANY LIMThED BY GUARANfEE) Hartley Fowler LLP ststutory Auditors Chartered Accountants 4th Flcor Tuition Hou 27-37 St George'5 Road Wimbledon London SW19 4EU
crrIzENS ADVICE MEirroN AND LAMBEfH LIMITED CONTENTS OF THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ChaIS Wekome Report of the Truthes 2 to 15 Report of the Independent Audltors 16 to 19 Statsmert of Flnanclal Activities 20 Statsment of Financial Position 21 statement of Cash Flows 22 Notss to the Statsment of Cagh Flows 23 Notss to the Financlal Statements 24 to 38
crrIzENS ADVXCE MERTON AND LAMBETH LIMrrED CHAIR'S WELCOME FOR THE YEAR ENDED 31 MARCH 2024 I am glad to present our 2023-2024 Trustees Report and Accounts. Through a period where high levels of hardship continued to affect many of our clients, CAML has dellvered significart support to resldentsi predomlnantly in Merton and Lambeth, on behalf of our commissioners and funders, with impressive outcomes for our clients. CAML supported over 25,000 cllents thls year. Thls is IOO/o down on the prevlous year however this reductlon is explained by the 6% Increase in the complexity of issues presented by clients, requirlng rn0 time and diligence by our team. CAML'S support and advice generated more than £3m of direct financial benefit for our clients {2023'.£3.2m), whlch was worth over £11.2m In value to the people we supported (2023.. £10.3m). The broader economic and social benefit of improvlng our clients, wellbeing is an ests'mated £19,6m (2023; nearly £26.5m). aient demand has remained high during the year. We have worked hard to recrult to match the demand but this has been difficult. As a l(K31 charlty we contlnue to work hard to afford a team to address contlnued high leve15 of demand for our SeiCe5. Our funders understsnd the challenges posed by such high need for our servlce. They support us, where possible, to retain the high quality, fully accredited service5 that we provide. Our staff and volunteers have continued to go the extra mlle to support the volume and complexlty of needs brought to us by our dients, supported by our outgoing Chief Executlve, Suzanne Hudson, and a committed and tslented Truste Board. I speak on behalf of the Board of Trustees when I say thank you to Suzanne and our dedlcated and hard-worklng Staff. In early 2024, Slmon Shlmmens jolned as Chief Executlve and I took over from Jotlnder Gosal a5 Chalr of the Board of Trustees. I take thls opportunity to Say thank you to rny Board colleagues who support the CEO and I very well. We have moved Into the 2024125 flnancial year with contlnued high demand, and budget and resource pressures. I am glad that we face these challenges wlth a committed tearn, passionate about the sub&anUal benefits they provlde for our cllent5, their families and locol communities. Elizabeth Coulter Chair of the Board of Trustees 30 Ottober 2024
crrIzENS ADVICE MERTON AND LAMBETH UMrrED (REGISTERED NUMBER: 02914384) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 The Tnjstees wt¥J are also direLtors of the charity for the purtoses of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The Trustees have adopted the provisions of Accounti and Rewrting by Charities.. Statement of Recommended PrdLtice applicable to charities preparing their accounts in accordan with the nancIal Reporting Stsndard appllcable In the UK a1 Republic of IrelarKI (FRS 102) (effective l January 2019). OBJEcfIvES AND ACTIVITIES Principles, Aims and Stratsgic priorltleg Citizens Advice Merton and Lombeth (C4ML) is one of London's leadlng and busiest advice charltles. We support Indlvlduals familles live, work or study primarily In the London Boroughs of Merton and Lambeth, but also elsewhere. We also work to raise awareness and understandlng of the challenging issues affecting IndMdua15 and our communitles. The chaiitvs objects are to promote ary charitable purpose for the public benefit by the adVanrnent of educab'on, the protertion and preseNation of health and the relSef of poverty, sKkness and distress for the benefit of the communltles we serve. We were one of the first Citizens Advitr services to open our doors in 1939, $0 In September 2024 the team and partners lebrated 85 years rf providing our 5ervlces and 5UPPOrt, which remain as Important tLx1ay as they were wtten our work began. Stratsgy 2021-2026 In 2021 we developed and implemented a new five-year strategy In consultstlon wlth staff, volurteers, funders, commlssloners, cltents and other stakeholders, Our Purpose Supporting people to resolve their advi problems and change thelr Ilves for the better. We do this on a free, ¢onfidentlal and Impartial basis by.. - Provldlng athilce and information services to support reople in resolving the problems they fa. and Supporknng the improvement of pollcies and praLtices that affect people's Ilves both locally and notlonally. Our Values Clients and Beneficiaries first We work for the publlc and place the interests of our cllents and communitles at the heart of our htgh qualty aLfvi, Infomiation and support. We collaborate with other OrganIsaOn5 and partners for the benefit of our cllents, Professionalism Workirvj together as a tsam we take prlde In doing things propertyi in maklng a real dIffenCe. Our Staff, volunteer5 and trustees att with integrity. We support our team with on-going tralning aThJ mentorlThJ to achieve the best for cllents and beneficiaries. Compasslon We believe everyone should have acce55 to 9xlal justi. We value dlverslty, challenge dIrImInation and create a culture where all can flourish.
crrizENS ADVICE MERTON AND LAMBETH UMITED (REGIsfERED NUMBER: 02914384) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 Strategic Priorltits 2021-2026 l. To deliver the highest quality advlce and support acr05S the range of our services. 2. To use technology to enable multi-channel access and to Supp a5 many dients as we can in the way that best meets their needs. 3. To ensure our seThices are accossible by". a) Priontising fa-to-faCe suppcwt for those who most need . b) Finding other means to help vulnerable dients where that would be more effecbve. 4. To invest in quality trnlnlng and supervlslon to make the most of our exceptional staff and volunteers . 5. To build the long-term success of the tharity by prlorftlslng financial sustalnablllty and by attractlng more investment from our communities. Public benefit The Trustees have complied wth the duty In SettSon 17 of the Charities Act 2011 to have due regard to publlc benefit guidan published by the Charitses Commission. The companV5 objects are to promote any charitsble purpJ5e for the public and preseNation of health and the relief of F¥Jverty, sickness and distre55 but without limitation, for the benefit of the community in London Boroughs of Merton and Lambeth and surrounding areas; specifically, to provide free, independent, confidential, impaitial advi, advocacy and Information to the public on d1. flnanaal, legal and other matte The Trustees refer to the guidance ccts1ned in the Charity Commi551on's general gUklan on public beneflt when reVIeng the aims and obJeLtives of the company and in planning its future actiwties. The Trustees consider how planned activitie5 will contribute to the aims and objettives they have 5eL The Charity belleve5 ts strategy should be a ling dccurnent, engaging with all our stakeholders and being attively revlewed and enhanced in restN)nse to the rapidly changing social, wlltlcal and economlc external environment. To ensure that we remaln relevant and effertlve in respondlng to the needs of our local communits'es, we are commltted to buildlng on what we know works, involving our partners, commissioners, funders, staff, and volunteers. ACHIEVEMEKf AND PERFORMANCE Charftable actbvlties CAML provides a range of serVIS and sreciallst projects primarily for the residents of the LorOn boroughs of Merton and Lamteth, but also wider Londonlelsewhere. The demographi of the London bjroughs differ, and our funding and hence serVIS and projetts in the restive boroughs also vary, albeit that some of our core services are consistent in each torough. Our focus remains on each and every dient and thr particular situation, which continue to typically be MO complex. We work in partnership and collaborats'on with other organisations, knowing that together we can often achieve better outcomes for individuals and familie5 in need. Our information, sUPPOrt and advi sermces are provided via telephone, online, video Conferen ond faCtrtQ-fa. In addition to our main public advice services we offer a range of SFecialist seNS and project& AlthcKJgh our funding sources continue to develop, unfortunately we do have the resources to Immediatety SUPPOrt everyone who contscts us. The high number of dients we have SUPkKJrted has only been possitle thrcwgh the contlnued commitment of i)ur stsff team, our amazlng vclunteers, our partners and wr fantsstic funder515UPPOrters. hanks for your help• I have found a bit of Pea around this situation now." Client
crrIzENS ADVICE MERTON AND LAMBEfH UMrrED (REGISTERED NUMBER: 02914384) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities ear of un recedented demand and challen The 23124 financial year was still affected by what was still referred to as the 'cost of living crisis,, which has continued into generally high levels of hardship, high costs and low Incomes, which shows no signs of falling. As a consequence the demand for CAML'S advice and support continued at unprecedented levels, far exceedlng the chanty's capacty and placing huge pressures on our seNces and team of staff and volunteers. As local people continue to find it difficult to pay their rent, Coundl Tax aftLI energy bills and generalw make ends meet, they turned to us for help. We saw a further increase in comFAex debt issues, an increase in housing éisrepair and rna1ntenan issues, plus rises in cases of clients presenting wlth prlvate sector rents and soclal housing Servi charge problems. National Citizens Advi Statistics, refleLting our local experience, evidenced that over recent year5 dient5 have presented an average of over 4 bespoke issue5, whilst in 23124 this increased to an average of over 5. Thi5 has added extra time and solution pressure on team members. We continue to suppart people to the best of our ability and capacity, mindful of the wellbeing of our team. Flbnding continued for speclfic cost-of-living crisis advi projects in both Merton and Lèmbeth, induding with the benefft of GLA fvndlng. Cost-of-llving contract delivery Includes partnership working with community and fah organlsations in Merton, Lambeth and Wandswiyth to reach part5 of the cornmunty exFeriencing Cost-of-llng difficulties. "Thank you for gettlng back to me so prompdy. Much appreciated. Will follow your advlce." Client in ner Durlng the year we supported over 25,000 Cllents, a reduttion of 9% on the prewous year, but wlth a 6Wo increase of over 43,000 advice issues through our range of services. The was a slightly lower result compared to last flnancial year, but Still over £3 mlllion of financial benefit achleved for dients. The figure does not include people who accessed the self-help resources on the CAML website, which we estim ate to be in excess of 30,000 a year. For every £1 Invested In our SeNiS in 2023-2024, we generated: By helplng stop problerns occurring or escalatingi we redu the need for public 5eNices (health, housingi Out of work benefrts). £2.28 In 5avlngs to government and public Servi5 (f15cal benefits) Supporting and helping to solve residents, problems Improves lives and th15 means better wellbelng, part¢cipatlon and produrtivty for SIdentS, communleS and the boroughs we Serve. £14.57 in wider economic and scclal benefits {publlc value) Through our setvices and supwrt we can increase people's income, help wrlte off debt, take up tsenefrts and resolve consumer issues. £8.32 in financtal value to the people we help CAML'S support and advlce 9enerated Just over £3 million in fiscal benefits and over £11.2 million in value to the people we supported. The wider economic and social benefit of impn)ving dients. well-being Is estimated at £19.6 mllllon. Dats calculated using Treasury Impatt model avallable to Citizens Advi ne0(.
CITIZENS ADVICE MERTON AND LAMBEfH LIMrrED (REGISTERED NUMBER: 02914384) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Main vlc rvic CAML delwered general advtce and information seNS for Merton and Lambeth residents by telephone (AdvIlIne) 35% of clients, email - 30¥0 of dients, in-person droFin sessions at charity offices in Mitcham, Morden and Kennington - 35% of dients, nd through our websf(e (caml.org.uk). Our general advice supp)rt encompasses information support, advice needs assessments, advi appointments and referral to speaallst advice servi5 provided by CAML'S speaal projetts, pro bono law partners or other organisations. For more about speoal projects and pro t(Jno support see below. The main topics we received enquirie5 aut across all our ServIS were as follows. Benefit enquiries, induding tax credits and Universal Cred, account for 30Dkn of issues we helped th. Enquiries abjut Personal Independence Payment We by far the largest matter that we dealt with. Housing and debt issues accounted another third of our work. The top debt i55ues that ppIe carne to us for help with were councll tsx arrears, houslng assoaation rert arrears and fuel debts. Benefits and tsx credits Housing Debt Universal Credlt Immigration and asylum Legal Charitsble SuppJrt & FoJd Banks EmrAoyment Financial serceS & capabllity UtIlIeS & communlcatlons 21% 19% 120 The following all less than 30/0 Consumer good5 & services Health & community re Relationships & famlly Tax Travel & Transport 5% 4¥0 30/0 3Yo 3Wo During the year we saw priority demands change slightly owing to the ongoing impact of high levels of hardship, low incomes and high costs, such as charitable 5UPPOrt and access to fDJd banks. Other conb'nued demand for debt support and hou5sng 5UPPOrt remained high, in conjunction th the consistendy high percentsge of dients requesting adwce regarding benefits. vi Our Advlcellne telephone and emall se1 provldes Information, a5sess)ments and support through two Advlcellnes Merton and one for Lamteth. one for Continued high levds of hardship has meant the demand for AdViline across both Ic(al authoritie5 continue5 to create volumes which the team are not able to respond to as prompdy as we would like. During the year we supported over 13,676 calls and online querles, but demand levels continued to result In individuals faong potentlally long Wang tsmes to sreak with a team member. Addits'onally the complexity of individuals, circumstances and supwrt requested has created longer average call times wh more pressure on the team. hey took my penslon dalm over the phone and now the problem is sorted. Thank you very muth for your help.. aient son se High levels of hardship resulted In Increased dients seeking in-Ferson support During the year we supp)rted 6,228 people wlth on-theday infomiation and advi asse55Thent supp)rt, an increase of 18% cffl the prior year. Additlonally we supported 2,195 dients wth generéli5t advi appointments. Merton and Lambeth reswjents continued to face complex challenges, somefjmes engaging with us very late in the day which can add to the challenge of finding sucSfUl solutions. We endeavour to prioritise factrtrra SUPFQrt for dients who need ¢ induding those wth complicated situations. who are vulnerable, or needing complex casework, as mentioned eatlier in terrn5 of a circa 20% increase in numbers of be5wke i55ues that dients present our tearn with. "Thank you (advisor name) for your time in explaining the optlons available to move forward and improve my life. - aient
CITIZENS ADVICE MERTON AND LAMBEfH LIMITED (REGISTERED NUMBER: 02914384) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 Dem aient demographics across CAML'S advi servis. Gender Age Ethnioty Female Male Otherlrefer not to say 62% 38% <25 years 25-29 30-39 4049 50-59 60-69
70 30/0 6% 20% 22% 22% 17Vo io% White Ag'an Black Mixed Other 33% 15% 38010 Dlsabllity DIsaed Long term health condition Nolprefer not to say 440h 49% Many cllents, fcK understandable re39Jns, may thoose not to dlsdose health conditions. The demcrfjraphic information atx)ve is largely consistent with the prior year, however, notably there ha5 been a 50Wo increase of those in the 4¢149 age group frorn last year, with the 50-59 age group reducing by a thlrd. The percentage of dlerts over 70 years of age also doutled from last year's flgu We ccfitinue to support clients mentioning mentsl health concerns but not di5dosing a SIfiC condition. CAML is now delivering contract with South West London & St Georges NHS Mentsl Heatth Trust 5UPPOrting dients who are formally receing mentsl health system 5UPPOrt. We contlnue to supwrt any safeguarding cOnrn5 ra15ed by clients. We have comprehensive safeguardlng pclicies and PradureS and work closely wlth statutory teams as approprlate to support our dlents. Cam study: We help Kelsey back on her feet Kekey was referred to Lambeth Living Well project after ringing Lambeth Adviceline Kelsey Inltlally wanted to speak wlth adviser In person as, In her own words, her Ilfe was "a m, and she was struggling wlth day-to-day living. When her marrlage broke down, she and her Ilttle girl were moved into Lambeth council accommodation from the flat she and her husband had been buwng. (kne thing led to another, and she ended up serving a short prfson senten On release, Kelsey was deeply In debt wlth rent arrears, counol tax arrears, credlt card debts and more. She found J full-tlme job, bu¢ wlth paying for child-care and the cost of livlngi she stlll couldn nke ends meeL When bailiffs threatened to take away her car, which was linked to her dlsabled f)therf$ Blue Badge and rnotability award, it was the flnal straw. CAML'S Lambeth Llvlng Well adviser met wlth Kelsey and completed an adv1 assessmenL Kelsey was reassured that the car would not be impounded because It Was a reglstered motsbllity car. The advlser provlded written statement that Kelsey could use If needed In the fure explalnlng th1& In addition to referrlng Kelsey to a WdalISt debt advlser, th¢ Livlng Well adviser worked with and supported Kelsey in how to maximise her income including ensuring tax code was correc¥ uslng the Child Malntenance Service to renegotiate her ex's child support payments, applying for benefits she was entitled to, and applying to Lambeth's Emeryency Support Scheme. Kelsey was supported over a number (rf appointment Kebey thanked CAML for Jll our sUPPOrt. Kdsey was Invited to contsct us agaln for further support or inforniation when needed. * Names and some detalls have been changed to preserve confidentiallty
CITIZENS ADVICE MERTON AND LAMBEfH LIMITED (REGISTERED NUMBER: 02914384) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 ciallst Services Review CAML'S projetts provide specialist advice and casework support focus on specific issues, groups andlor localities. rnbeth Children, Centre service This Is an outreach Servi with dedicated advisers based in Better Start Chlldren's Centres acr055 Lambeth supporting famllies in need wth thildren under 5 years of age. During the year we supported 290 famllies with over 3,587 i55ues. Athough the dient numters were consistent with the prior year the number of issues increased by a third - primarily benefits, debt and howng. Merton Disabili Welfare Our Specialist Disability Caseworker delivers expert advice to disat4ed people living in Merton. The servi is part-funded by London Borough of Merton, with the charity supporting the balan following the decision of Trustees to invest In this much-needed programme focuslng on supporting some of the most vulnerable people in Merton to acce5slreceive the disability benefits to Mthich they are entitled. 111 individuals We supported through the Serv1 vlth a mix of advi and easework, addressing 640 Issues, a 25% increase of issue5 addressed to the prior year. Due to clients, needs and clrcurn5tsnce5 nearly all appointments are factrtrfa. Many cases Invofve appeals against dlsablllty allowance rejeLtions. In the last year 33 of 36 appeals supported were successful to the benefit of the dient. For a number of years we have worked In close partnership with Wimbledon Guild with a dedlcated CAML athiser based in their central Wlmbledon venue supportlng clients one day a week. Durlng the year, we yjpported 81 client5 Wlth 325155ue5. Wimbledon Gulld additionally provlded fundlng for a spedali5t debt adviser one day a week owing to the cost-of-llving crisis. Our adviser supported 35 dient5 Wlth 167 debt issues. ort Our dedlcated advlsers worked dosely wh Capts and Lambeth Counal tearn5 to hdp people wlth Lambeth Council Tax arrear5. As financial difficulties for Lambeth residents mounted during the year, so dld demand for this sen4ice. We supported 72 dients before the Se finished at the end of the financial year in March 2024. CAML provides generalist information and advlce at community venues and through the Lambeth LivSng Well Bu5. We 5UPPOrted 488 Lambeth resldents with 1,512 Issues, worklng dosely wth health and other organisations. The servi finished in December 2023. rati erv The Trust for London funds us to provide a specialist immigration advi setvice, working in partnership with three other London Cits'zens Advi charitie5. Our dedlcated Immigration Adviser supports redents across five London boroughs. The service supkK)rted 370 dients with 1,525 issues. The demand for this spedallst support Conned to exceed our forecasts. ivin is Prevention Advic CAML is one of many local Cits"zen5 Advi offices funded by the Greater London Authority (GLA). Our Cri515 Prevents'on Adviser pn)vides general adviEe and support for Londoners struggling with the co51-of-llng crisis. CAML work5 With community groups and organisats'on5 including Merton Carer5 Support and Mushkil Aasaan. fAML 15 a150 funded to employ a Specialist welfare benefits adviser who take5 referra15 from CANL and other iJtizen5 Adv1 charitie5 in South and West London. 386 Londoner5 were 5UPPOrted. Mert t- f-Livin In late 2022, Nerton Council awarded CAML new funiling to hdp support individuals and familie5 in Merton manage their immense challenges arising from the cost-of-living crf515. The tyear grant 5UPPOrts a dedicated team of generalist and debt advisers to provide a rnix of drop-ln 5esslons and pr*bcoked appointrnents in outreach venues including Merton Ilbrarles and Wide Way Medical Centre. 616 Merton residents were supported in 23124.
crrIzENS ADVICE MERTON AND LAMBEfH LIMITED (REGIsfERED NUMBER: 02914384) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 Pro Bono vice CAML continued to parther wth law firms in 2023-24 to provide dients wth free initial legal advi on housing matters. Duncan Lewis Solicitors accepted referrals for telephone advice and Abbotts Martin saw dients referred by us in Kennington. We are grateful for their continued support and the valuable advi they provide to our cllent Communlcations, Research & Campaigns We have a fully effective Research & Campaigns (R&C) team of vdunteers who SUPEk)rt both National Citizens Admce campaigns and also help to raise policy issues at I(1 level with l(Kal Councillors and Members of Padiament to Influen policy changes that could benefit our client& To ensu that National Cib"2ens Advice's policy work is infomied by the eXperIenS of the people of Merton and Lambeth. our advisers, asse5y)rs and the Adviceline team sent National Citizens Advice 4,526 eviden forms, covering 1,078 problem issues faced by our dierts. Challenges with the benefits system contribute to arwnd a third of these issue5, but hou51ng cOnM5, in tx)th the private and s(xial nted sector5 conts'nue to be a key problem f dients. The case studies regulady shared with Nab"onal Office are considered as high quality and effeth've in promoting the benefits for dients of the seN15 we provide. Our Senior Manager who oversees and guldes the R&C team was asked to present a CAML case study at the 2024 Nats'onal Qtizens Advi annual conferen. We also engage with the wider community through regular posts on our webSe and s131 media nerkS including Instsgram and Unkedln. In addition to physical promotional infomiation belng vi51ble at our outreach locations, staff have regularly attended weekend cost of living events. We are also developing stronger links With local focdbanks as communicats'on hubs for our Servi5, induding the most ret energy advi SUPF¥Jrt that CAML can provide. Case study: Marcla* moves forward Marcla had had a run of bad luck. An articulate, well-educated woman in her ea 605, she lived and brought up family In her Lambeth councll flat for over 40 years. She now lives alon& Hw mobility problems, sickle cell anaemia, and dyslexia make it dlfficult for her to engage wlth big oryanisations but she could do her job and could make ends meet. Things changed In the autumn. Marcla's work made her Job redundan¢ a councll admln error pushed her into council tax arrears, and, on top of thi4 debt collectors were chaslng her for an alleged catalogue debt from 10 vears ago that she knew nothing abouL When she had spent her redundancy paymen( she applied for Universal CrediL She couldn't navigate her eneryy companvs webslte or help Ilne so, after livlng In an unheated flat for 3 week4 she called CAML'S AdvlceLlne. We gave her a fuel voucher and made her an appolntment with Amy, one of our advlser Amy explalned that although Marcia would be subject to the 'bedroom tsx,. she could apply to the council for a Discretionary Housing PaymenL Amy showed her how to get a larye print applicatlon fomi for Personal Independen poyment (PIP), apply for a Limited Capacity for Work A55e5smen( Join the utility conipaiiies, prlorfty registers, challenge the debt, and speak to the touncil about her council tax arrear& Marda acted on thls advice Jnd later emailed Amy saylng: 'Thank you Amyl for your tlme In explaining the options available to move forward and Improve my Ilfe,. Names and idertlfying details have been thanged to preseNe confidentiallty
crrIzENS ADVICE MERTON AND LAMBEfH LIMITED (REGisfERED NUMBER: 02914384) RepoRT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 Volunteers Volunteers are a vital part of CAML'S service5 and the organisation's contribution to our local communities. All volunteer5 receive a comprehensive induLtion and ongoing training with daily supwjrt and supervision from dedicated staff members. National Cibzens Advi calculates that CAML volunteers gave an estimated £294,500 worth of time during this financial year. The were 31 volunteers throughout the year, contributlng to various teams across ¢JNL. Role5 Included Infomiation, Researth and Campaigns, Assessor and Adviser volunteers. CAML'S Trustees are atso volunteers and their work provides the governan oversight for the charity to operate. In the current financial year we have appointed a further three Trustees to rerAace resn3b'0ns, all of whom bring valued skills and experiences to maintsin a strong and diverse Trustee Baard. Elizabeth Coulter also became Chair following the successful tenure of Jatinder Gosal. We cont6nued to obseNe ongoing demographlc shffts amongst prospedve volunteers. National statlstics flect a slgnlflcant drop in v¢Junteer llumber5 in the 23124 financial year, refleoting a drop in CAML volunteer numbers. Appreciating the challenge of attrath'ng new volunteers and the value of their 5UPP)rt to dients, additional advertislng has tsken place In the current year to attract additional volunteer5, including In role5 not previously advertised for. "I stsrted volunteering as an Information Volunteer wlth CAML In 2019. 1 had alway5 been Interested in Cltlzens. Advlce and when I took early retlrement from teachlng I saw an opportunlty to get Involved. I could not have asked for a more rewarding volunteering position. All the regular staff and the other volunteers at CAML have been so kind, supportlve, patient and friendly. CAML never foryets that we are volunteers and genuinely values our contribution. It is a real privilege to meet our clients, many of whom have complex problem5 but are dealing wlth them with grace. I often feel that I haven't done much to helpi but the cllents are incredibly gratefuL It Is such an eytropenlng and rewarding role." _ CAML Volunteer Stsff During the 23124 financial year CAML employed an average of 39 members of staff (full time and part time). In full time equivalent (FfE) terms this represents an average of 31.5 siaff. As core funding drops in real terms and payroll costs increase this creates an ongolng situation where it 15 a challenge financially to increase stsff resou5 to address increased client demand. Suzanne Hudson stood down as CEO In February 2024 and Simon Shlmmens jolned as 0 on 26th February 2024. We continue to employ the best and highest qualty staff members that we can. Although thi5 can be a challenge, especially in London, where the c05t of travel and housing makes it very difficult to attract the right people for the available remuneration, we conb'nue to maintain full or near full staffing levels throughout the year to ensure the charity continues to provide the best service provision posyble and deliver on agreed taryets. The nurnr of leavers through the year mained 5tsble in comparison to the prior year. We believe that investing in and listening to our team makes us a better organisation. We involve staff and volunteers in the design and delivery of services and how we work. We regularly survey and seek feedback and also have a strong commitrnent to professional development and contlnuous training. We are proud of our team and a delighted when ind1viduals wlsh to progress their career and choose to do 50 Wlth the charlty, IndudiDg volunteers successfully apFlying for staff role5 and staff progresslng to supeNision and management role5 Wlth our support. We would like to thank every member of the CANL tsmily. Their professionalism, commitment and dedication ensure tens of thousands of individua15 and familie5 throughout Merton and Lambeth receives the right support when they need rt most. 'Thanks for listenlng. Thanks 50 rnuch for your help and support wlth this I really appreclate IL" . Client
crrIzENS ADCE MERTON AND LAMBEfH LIMITED (REGisfERED NUMBER: 02914384) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 The Principles and Aims of CAML'S Worfc and Services We provide admce setvices responding to dients needs via the telephone, online and face-trfa. Our aim is to emwwer dients to better help themsee& But we are always here for further support and advi as and fftn needed. Our approach embra5 the following principles: Build and foster trust - With our dients, our partners, and those we work dosety wth Embra Jolnt working and collaboralion - To meet indlvldual needs, tackle wlder strateglc issues and maxlmlse resoUS we need to work together, drawng on the diverse ski115, knowledge and experien of the CAML team, our partners and those we work closely with. Collaborètlve worki ng ensures the test outcomes for our cllents. Work flexlbty We know the needs of individuals, families and communities change over time In temis of changing demoJraphic5, challenges indiwduals and farnilies face, and how they prefer to receive support. To ensure we ConnUe to meet clients needs and demands, CAML'S professional, high quallty advi seNIS need to evolve over time. Support6ve - The challenges dients fa are increagngly complex which can be immensely stressful for them, their families and those who support them (including the CAML team). At CAML we are here for our dients and our team. We recogni5e that to best supwrt dbents we need to ensure those who work and volunteer with u5 are comprehensively 5UPPOrted. In the past year we have developed and implemented enhanments for our team Indudlng improved support and superv151on, implementstion of recomfflendatlons from vdunteer review and team training. Evidence based - The design, delivery and evaluation of must be eviden based. Although we're not a large charity, we need to ensure that evaluating and demonstrating impatt and delivering value for money is embedded within what we d Quallty Assurance - As a member of the Natlonal c2en5 Advi network, all our advi work is subJett to professional quality assuran standards so we can ensu the best standard of suppjrt is being consistently delivered. In additlon, monltorfng and recording of dient satisfaction is an integral part of our servIs. This infcKmation indudes dient profiles which enable us to monitor that our services are meeting the needs of the community including hard-treath groups such as those with addib'onal communication needs or enhanced support through a range of delivery models to maximi5e access (phone, email, online, fa-tO-face, drop-in and appolntments at multlple venues). We record, monitor and measure customer 5atisfactlon in a variety of ways. We have detsiled Information (with consent) on how we have suppjrted clients and the number of issues re5dved. We can also value economic and finanaal gains. With natijnal CStlzens Advi, dients are Invlted to partiapate in feedback. Where the client agr5, a third paty organisation contscts them to complete a survey {telephone or online) as to their experlence wth CAML. Looknng f¢Jward, we are considerlng how AT can help to lessen administrative time attathed to the SerS we provide. The intention is to maximise the benefit of advisor time dients and minirnise the ty'me produong CordS and case note5 to wr usual high standards, as independently verified. I have always found my local CA office [CAML] to be extremely helpfull!! They helped with my long stsnding case to reJth a successful outcome. Cannot recommend hlghty enough.. _ Cllent -iO-
CITIZENS ADVICE MERTON AND LAMBEfH LIMITED (REGISTERED NUMBER: 02914384) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Financial position In the p35t year CAML maintolned an income level of £1,279.534, almost identical to the Pfior year figure of £1,280,943. Thi5 WBS as a result of new funding virtually matching funding that Sed in the financial year a5 contracts reached their expected end dates. With levels of hardship remaining, demand for our suppjrt continues to 5ignificandy outpace our ability to support everyone trying to contact us. Continued sustsined charty development and expansion remains our priority aim for the next three years. EXnditre rose to £1,299,971 from the prior year figure of £1,263,920, largely as a resu of increased costs for payroll, which accounts for around 82¥0 of overall costs, plus mosi other costs Increaslng. As a result, we dosed the 23124 flnandal year with a small deflcit of £19,530. Prior year surplus was £17,991. As mentioned throughout this report, the ongoing high levels of hardship for so many of our clients, means that high levds of demand which exceed our day to day capability will remain in the foreseeable future. This maintains financial pressure to maintsin and try to enhance our team resources to be able to address demand and maintain the excellent quality of Servi we provide to clients. We contlnue to work very dosely with commissioners, pathers and fijnders to professionalW support the communf(ies we serve In what remain ch3llengln9 dmes for those experlendng high levels of hardshipi low Incomes and high costs. Investment PDIICY &'milar to many charitle5 of our slze, CANL currently has no Investment fiJnd& Surplus funds when not immedlatety required are placed In deposlt accounts with CAF Bank and Metro Bank. Reserves pollcy In setbng the reserves policy, the Buard of Trustees considers the need to provide against any future income shortfall, fulfil working capital requirements and allow funds to be available to support Servi developments. Throughout 2023-24 we continued to meet the reserves pollcy of three month5 operatlonal expenditure in unrestrlrted funds. With higher restricted balance of funds, in Narch 2023 the Board of Trustees approved a new reserves pollcy providing that unrestrlrted funds meet three months unrestricted expenditure. Principal rlsks and uncertalntles The TnJ5tee5 regula review risks and as part of Internal control, look ahead at potential rlsks In the future that could undermlne the sustainability of the charity, indudlng.. Ability to recrult and retaln skilled staff. EXperiend SupeNisors and Managers In Cltizens Advice a highly trained and sknlled people, and it remalns a thallenge to recruit and afford sufficient resources in London, there living costs are high. Securing longer term and viable fvnding remains a challenge, albeit that there Is currently some stsbillty of year fundlng. W funds from Ic£al authoritie5 are under long teim pressu due to budget deficits and typically do not cover cost increases over their contrart terms, adding additional pressure on resourcing to meet demands. Continued leve15 of hardship that our dients are facing produ5 a sustained demand for our SeNiS in excess of our resour on a day to day basi5. Delays in providing 5UPF¥Jrt can lead to client dissatisfact¢'on. Resourcing pre55ure5 can make it even more difficult to accept new fundlng opportunlties when de]ivery is expected at relats'vely short notice. To adasS and mitigate these risks, ongcing actions and initsatwes indude: Raisng our profile a5 o local charlty at communty level, to assist recruitment of new staff and to attract and retsin a much larger number of acts've volunteers. Consolidating and diversifying our income 5tream5, minimising the reliance on Icol outhority funding, including engaging wth the business community to a55iSt income generdts.on and encouraging volunteers. Reviewing our Servi delivery model to consider how we better handle hrgh levels of demand, including by improved proce55 and use of technology. -li-
CITIZENS ADVICE MERTON AND LAMBEfH UMITED (REGIsfERED NUMBER: 02914384) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW PLANS FOR 2024 - 2025 AND FUTURE PEIUODS Governance and Management We continue to stngthern the Board through identifying gaps in skn1lslknowledgelexperien and SucsS[ullY recruiting to these role& During the year we recruited for new Trustees and were successful in appointlng a further three new Trustees 'mon Graham, Chris Southorn and Anthony Ma. Recrurtment continued In early 2024 and in the current finanoal year Catherine Anderson, Elaine Okyere and Rory Weal joined as trustees. Jatsnder Gosal stood down as Chair and Elizabeth Coulter ttcame Chair in 2024. Strengthening Acce5S A key aspett of meeting rislng demand for our servltrs and support in an enrOnrnent of lower resourclng {finanoal and otherwise) Is to ensure we have the correct balance of service provision btheen telephone, online, face-tface and outreach, and between information, assessments Ctriagel, generalist advice and speaali* advi. This is an ongoing process as patterns of demand can change and a suc$ful service must be flexible in order to respond appropriately. We contlnue to have Important conversatlons wlth our core advlce funders, the London eoroughs of Merton and Lambeth. Both to ensure th3t our respective directions of travel are closely aligned and also to influence their future priorities for funding advi service5 through our expertise. susrAINABILrrY, FINANCIAL VIABILrrY AND RISKS Pclitical, financl31 and 50cletal uncertainties extemally make never more important to ensu the charty Is properly resourced wlth a strong business plan and highly professional operatlonal leader5hlp and team. Thls is even more important as Local Authorities and other funders are under increasing and unavoidable pressure to cut their budgets. We are therefore working to secure appropriate furKling for existing ser contracts and our Chief Executive is tssked with securing new fundlng opportunitle5 wlthln the aFproved thryear budgeL Within thls, being able to demonstrate the impact of our work and communicate thls effectively to key stskeholders Is of primary importance. As 3 charity with a tumover In excess of £1 million, CAML 15 exduded from bidding for many charitable funds. Those that we are eligible to bid for are subject to increased competits'on. The three-year business plan and budget provide5 a framework for the charity to sustainably grow and develop. During the 23124 finanoal year and the current financial year additional income wa5 achleved broadly In Ilne with the busine55 plan and budget. There MaInS a number of future rlsks of key fundlng support changing and the Board of Trustees may well need to make major strBtegic decislons If core local authorlty fundlng dces nrt meet full cost recovery going forward. -12-
crtIZENS ADVICE MERTON AND LAMBEfH LIMITED (REGISTERED NUMBER: 02914384) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 stRucfuRE. GOVERNANCE AND MANAGEMENT Constitution and oryanisational structure The charity is Clstituted as a company limited by guarantee. Recrultment and Appointment of New Trustees The DirectCKs of the company are a150 Charity Trustees ft)r the purposes of charity law and under the companvs artide5 are known as the Board of Trustees. The Board of Trustee5 Seeks to ensure that the needs of the users of the chanty's services a appropriately reflected through the diversity of the members of the Trustee body. As part of our 5ucce55ion planningi we continue to advertise and recruit new Trustees. Prospective trustees are interviewed by trustee reuuitment panel. Successful applicants are then invsted to meet the Chief Executive and obSee a Board meeting. Oryanisatlonal Structure and declslon makln9 The Board of Trustees meets quarterly and is resF¥)nsit4e for the strategic direction and p)liaes of the charty. There a also two sub-committees of the Board covering Finance and PeoFle. These have delegated powers, terms of referen and meet quarter and as required. The Chief Executive, assisted by three senior managers, is responsible charity operations including servi, contracts and projetts thin the sirategy and Poliaes set by the Board. Induction and Tralnlng of Trustees New Trustees have a welcome inductlon Indudlng informats'on, time spent with serVIS, team meetings and opp3rtunitRs to familiarlse themselves wth the charity's activities and policies. All Trustees are also encouraged to Join team meeng5 and tsam training. Trustees also attend relevant training sessions from national Qtizens Advi and other organi5ations. Key Management Remuneration Remuneration levels for key management ptrsonnel are reviewed annually by the board. Tru51ee5 consider benchmarks against comparable roles for other similar charities when determining salary and other employmert benefits. Related Oryanisations The Chanty is a member of Otizens Advlce, a natlonal nthork of over 240 local tharlts'es that ddiver adv[ acr055 the country, overseen by a national framework pded by Qtlzens Advitt. We have exlIent relationships with the Londm Borough of Lambeth and the London Borough of Merton who provide us wth core fundlng for the coen putlic advlce se1 through contractslgrants to support our Val work wth thelr communrtie& We continue to work In partnershlp with other organlsats'cs indudlng Wlmbledon Gulld, Walcot Foundatlon, Wlmbledon Foundats'cffl, Greater London Authority (GLA), South West London & St Georges NHS Mentsl Health TrusL ClzenS Advl Hounslow, Wand5WOrth and Hammersmith & Fulham and collaborab'vely work with other charits'es and organisations relevant to cmjr clients, needs. On behalf of our dients and everyone Involved with Citizens Advice Merton and Lambeth. we would like to extend our gratitude for the suppjrt arKi co-operation we receive from all our fvnders, partners and other organi5atlons. ststement of Internal Control Risk Management The Trustees from review and update of the risk register remain satisfied that there are measure5 in Pla to mitigate those rfsks. The Trustees alway5 undertake appropriate due diligen and seek appropriate professonal advi when takn'ng major decislons. The charity's objectives, S internal organisation and the enmronment in which it operates change over time and internal controls are in pla to help manage and contrd risk appropriatdy. As not all risks can be fully mitigated, an approach to risk appetite supp)rts decisions about appropriate attions. The follmng risk categories a induded in the risk register: - Governance - Service Delivery Finance and Funding People Management Our Busine55 Conb'nuity Plan details how we will handle signrficant risl(s that could cause disruption to our nMal Se15 and which have the potential for significant impatt on our dients and the overall operation of the charty. -13-
crrIzENS ADVICE MERTON AND LAMBEfH UMITED (REGISTERED NUMBER: 02914384) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE oAILs Registered Company number 02914384 (England and Wales) Registered Charlty number 1046018 Registered office 7 Crown Parade Morden London SM4 SDA Prlnapal address 326 London Road Mitcham London CR4 3ND Ms E Coulter Chair Mr R Patel Treasurer Ms K Gray Ms C Mercer Ms L Whiting Mr C Southorn (appointed 1214123) Ms E Otyere {appointed 1716124) Ms C J Anderson (appointed 17161241 Mr R Weal (appointed 1716124) Mr I S Gosal (re5gned 2217124) Mr S Graham (appolnted 1214123) (resigned 2217124) Ms C M Taylor (resigned 31110123) Mr A Ma Solicitor (appointed 3016123) Chief Executlve and Company Secretary Simon Shimmen5 (appointed 26 February 2024) Senlor Management Simon Is supported by Karen 8runger (Head of Advi Se1), Bill Petty (Head of Adviceline, Information & Facilities) and Denitsa Ivanova (Head of Projects & Quallty who was appoSnted In July 2023). Audltors Hartley Fowler LLP Statutory Auditors Chartered Accountants 4th Floor Tuition House 27-37 St GeNge's Road Wimbledon Londc SW19 4EU Legal Advlsors Muckle5 LLP Time Central 32 Gallowgate Newcastle upon Tyne NEI 4BF -14-
CITIZENS ADVICE MERTON AND LAMBEfH LIMrrED (REGIsfERED NUMBER: 02914384) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Bankers Metro Bank PIC 75 Piccadilly Mayfair London WIJ 8HU CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Nalling NE19 4JQ STATEMENT OF TRUSTEES, RESPONSIBILrriES The Trustees (who are also the dirertors of Cit12ens Advice Merton and Lambeth Limited for the purposes of company law) a restK)nsible for preparing the Annual Report and the financial statements in accordance with applicable law and Unrted Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice), Company law requires the Trustees to prepare flnancial st3ternerts for eadi financial year whlch glve a true and fair view of the state of affairs of the charitable company and of the incoming resources and applicatlon of resources, including the income and expenditure, of the charitable company for that pericd. In preparlng those financial statements, the Trustees are requlred to select suitable accountlng policies and then apply them conslstently. obseNe the methods and prlnciples in the Charity SORP; make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going concern basi5 unless it is inappropate to presume that the charitable company will continue in business. The Trustees are responsible for keeplng proper accountfing records whlch disclose wlth reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financi31 statements comply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the charitable cornpany and hence for taking reasonable steps for the prevention and t5etection of fraud ané other irregularities. In so far as the Trustees are aware: there is no relevant audit information of which the charitable company's auditor5 are unaware,. and the Trustees have taken all step5 that they ought to have taken to make themselves aware of any relevant audlt information and to establlsh that the auditors are awa of that Information. AUDrroRS The auditors, Hartley Fowler LLP, will be proposed for re-appointment at the forthcomlng Annual General Meeting. Thls report has been prepared in accordance wth the spedal provisions of Part 15 of the Companies Att 2006 relatlng to small companies. Approved by order of the board of trustees on 30 October 2024 and signed on Its behalf by,. Ms E Coulter- Trustee -15-
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CITIZENS ADVICE MERTON AND LAMBETH LIMrrED Opinion We have audited the finandal statements of Citizens Advi Merton and Lambeth Limfted (the 'charitable company,) for the year ended 31 March 2024 which comprise the Ststernent of Financial Activities, the Statement of Financial Position, the Statement of Cash Hows 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 Generalty Accepted Accounting Prattice). In our opinion the financial Statements: give a true and fair vlew of the State of the charltsble company's affalrs as at 31 March 2024 and of its incomlng resources and appllcation of reSoUs, including Its Income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance wrth the requirements of the Companies Act 2006. Basis for oplnion We conducted our audit in accordan with International Standards on Audlting (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, respjnsibilities for the aud of the financial statements section of our report. We are independent of the charitable company in accordance with the ethic31 requirements that are relevant to our audit of the financial statements in the UK, including the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilitles In accordance with these requirements. We believe that the audlt eVIden we have obtslned Is sufficient and approprlate to provide a bosls for our oplnlon. Concluslons relating to going concern In auditing the financi31 statements, we have concluded that the trustees, use of the going concern basis of accountlng In the preparatlon of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or cond+tions that, indimdually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least e1ve months from when the financial statements are authori5ed for issue. Our responslbllities and the responsibilities of the trustees wlth respect to going concern are descrlbed in the relevant sections of this report. Other lrformatlon The trustees are responsible for the other infomiatlon. The other Infomation comprises the Informatlon Induded Sn the Annual Report, other than the financial siatements and our Rewrt of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other informats'on and, except to the extent otherwise explicitly stated In our report, we do not express any forrn of assurance conclu51on thereon. In connettion wth our audit of the finanaal 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 cthined in the audit or otherwise appears to be materially misstated. Ef we identify such material inconsistencies or apparent material misstatements, we are requlred to determine whether this gives rlse to a material misstatement In the financlal statements themselves. If, based on the work we have performed, we condude that there Is a materlal misststsment of this other Information, we are required to report that fatt. We have nothing to report in this regard. Opinions on other matters pre5cr5bed by the Companies Art 2006 In our opinion, based on the work undertaken in the course of the audit.. the Information given In the Report of the Trustees for the financial year for whlch the financlal statements are wepared Is consistent with the financial statements. and the Report of the Trustees ha5 been ppared in accordan with applicable legal requirernent5. -16-
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CITIZENS ADVICE MERTON AND LAMBETH LIMrrED Matters on which we are required to report by exPtiOn 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 mi55tatements in the Report of the Trustees. We have nothing to report In respect of the followlng matters where the Companles Act 2006 requlre5 US to report to you If, in our oplnlon.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by u5; or the financial Statements Bre not In agreement wlth the accounting records and returns, or certaln dlsdosures of tru5tees' remuneration speclfied by law are not made; or we have not reiVed all the information and explanations we require for our audit; or the trustees were not entitled to tske advantage of the small companies exemption from the requiremer)t to prepare a Strategic Report or in preparing the Report of the Trustees. Responsibilities of trustees As explained more fully in the Ststement 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 th2 financlal statements and for being satisf led that they give a true and fair view, and for such internal contrd as the trustees determine is necessary to enable the preparation of financial ststements that are free from material mlsstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responslble for assessing the charitable company's ability to contlnue as going concem, di5closlng, as appllcable, matters related to going concern and using the going concern basis of accounting unless the trustees elther intend to Ilquidate the charitable company or to cease operatlons, or have no realistic alternative but to do so. -17-
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF crrizENS ADVICE MERTON AND LAMBEfH LIMITED Our responsibilities for the audit of the financial statements Our obj'ectives are to obtsin reaSonae assuran atyjut whether the financial statements as b 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 assuTrnce Is a high level of assuran, 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 decisons of users taken on the basis of these financial statements. The extent to which our prOdureS are capable of detecting irregularities, indudlng fraud is detalled below.. We identify and assess risks of material misstatement of the financial statements, whether due to fraud or error, and then deslgn and perfomi aLJdil prOdureS responsive to those risks, including obtsining audit evidence that is sufficient and appropriate to ovide a basis for our opinion. In Idenlfylng and assessing risks of materlal mlsstatement In respect of Irregularities, indudlng fraud and non-compllance with laws and regulations, we considered the ft)Ilowing'. -the nature of the Industry and sector, control envlronment and the charitles actSviUes' As a result of these procedures, we considered the opportunltles and incentlves that may exist withln the organlsatlon for fraud. In common with all audits we are also required to perfomi specific procedures to respond to the risk of management override. We a150 obtained an understanding of the legal and regulatory framework that the charitable company operates In. The key laws and regulatlons we considered in this context induded the Charities Act 2011, UK Companies Act and tax leglslation. 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 operaie or to avoid a material penalty. As a result of performlng the above, we did not Identlfy any key matters related to the wtential risk of fraud or non-compllan with laws and regulations. Our pradureS to respond to risks identified included the following: reviewing the flnancial statement disclosures and testing to gjpporting documentstlon to assess compliance with provlslon of relevant laws and regulations deSCrid as having a direct effect on the financial ststements; -enquiring of management concerning actual and potential litigation and daims. -performlng analCa1 predureS to identlfy any unusual or unexperted relatlonships that may Indlcate risks of material misstatement due to fraud; -reviewing minutes of meetings of those charged wlth governan, reviewing Internal reports, and -in addressng the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in makn'ng accounting estimates are indicative of a potential bias and evaluating the bu%ness rationale for any significant transactions that are unusual or outside the normal course of business. We also communicated relevant Identified laws and regulatlons and potentlal fraud rlsks to all engagement team members and remained alert to any indlcation of fraud or non-compliance with laws ond regulatlons throughout the audit. A further descripts-on of our reSnSIbIlItieS for the audit of the finanaal 5taternents is Ic(ated on the Financial Repong CounciS's website at www.frc.org.uk/auditorsre5ponsibilities. This description forms part of our Report of the Independent Auditors. -18-
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CITIZENS ADVICE MERTON AND LAMBETH LIMrrED Use of our report This report rs made solely to the charitable company's members, as a t*Jdy, In accordance wlth Chapter 3 of Part 16 of the Companies Art 2006. Our audit work has been undertsken so 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 apt or assume responsibility to anyone other than the charitable company and the tharitable company's members as tKJdy, for our audit worl for this report, or for the oplnlons we have formed. Jonathan CA (Se for and on behalf of Ha ststutory Auditors Chartered Accountants 4th Floor Tuition House 27-37 st George's Road Wlmbledon London SW19 4EU tatutory Auditor) Fowler LLP Date: .... -19-
CITIZENS ADVICE MERTON AND LAMBETH UMITED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Totsl funds Unrestricted funds Restricted funds Notes INCOME FROM Donations and gifts in kind 42,503 35,000 77,503 81,126 Charitable artlvltles Merton AdCe,Advice1lne & Information Servlces Lambeth Advice,Adviceline & Information Servios Lambeth Children's Centre Greater London Authority - Cost of Livin9 Advice Merton C05t of Livlng Advice Lambeth VIng Well Immigration London & Quadrant HousSng Lambeth Council Tax Summon5 Service Merton Disability Benefit Other Services and Projects Lambeth Cost of Living Advice 431,068 285.500 84,000 45,000 7,500 476,068 293,000 84,000 91,125 75,000 469,000 310,000 80,000 54,000 50,000 49,900 42,000 34,359 30,176 25,000 45,768 91,125 75,000 41,750 41,750 29,930 25,000 21,925 18,889 29,930 25,000 42,341 18,889 20,416 Investment income other income 3,356 3,356 1,857 Total 963 743 315 791 1279 534 1280 943 EXPENDITURE ON Raising funds 4,785 4,785 3,914 Charltable activitlej Merton AdVi,Advice1lne & Information seices Lambeth AdVi,Advice1lne & Information Setvlces Lambeth Children's Centre Greater London Authority - Cost of LSving Advice Merton Cost of Livlng Advi Lambeth Liwng Well Immigration London & Quadrant Hausing Lambeth Councll Tax SLJmmons Service Merton Disability Benefit Other Servi5 and Projects Lambeth C05t of Llvlng Advice 389,212 375,907 73,156 107,244 496,456 375,907 73,156 91,807 70,360 37,031 44,902 488,665 404,046 71,633 54,960 24,057 47,371 41,879 45,943 28,223 23,317 29,912 91,807 70,360 37,031 44,902 26,814 16,879 25,933 26,814 16,879 49,229 23,296 Total 925 331 1299 971 1263 920 NET INCOMEI(EXPENDITURE) other recognised gain51{10s5es) Actuarial gains on defined benefit schemes 38,412 (58,849) (20,437) 17,023 907 907 968 Net movement in funds 39,319 (58,849} (19,530) 17,991 RECONCILIATION OF FUNDS Totsl funds brought foNard 363,377 87,777 451,154 433,163 TOTAL FUNDS CARIUED FORWARD 402 696 431624 notes f(rm part of these financial 51atements -20-
CITIZENS ADVICE MERTON AND LAMBEfH LIMITED {REGisfERED NUMBER: 02914384) STATEMENT OF FINANCIAL POSITION 31 MARCH 2024 2024 2023 Notes CURRENT ASSETS Debtors Cash at bank 14 40,552 557 815 43,022 452 080 598,367 495,102 CREDITORS Amounts falling due within one year 15 (165,948) (42,246) NET CURRENT ASSErs 432 419 452 856 TOTAL ASSEfs LESS CURRENT LIABILITIES 432,419 452,856 PENSION LIABILrrY 18 (795) {1,702) NEf ASSETS 431624 451154 FUNDS Unrestrirted funds Restricted funds 17 402,696 363,377 TOTAL FUNDS 431624 These flnanclal statements have been prepared in accordance with the provlslons appllcable to charitable companles subj'ect to the small companles regime. The financial statements were approved by the 803rd of Trustees and authorised for Issue on 30 October 2024 and were signed on its behalf by: 56,.1 Ms E Coulter- Trustee The notes fcKm part of these finanaal statents -21-
CITIZENS ADVICE MERTON AND LAMBETH LIMrrED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating actlvltles Cash generated from operations 102 379 17 553) Net cash provided byl{used in) operatlng activities 102 379 17 553) Cash flows from investlng actlvltles Interest received Net cash provided by Investlng actlvitles Change In cash and cash equlvalents in the reportlng period Cash and cash equlvalents at the beginnlng of the reporting perlod 105,735 (15,696) 452 080 467 776 Cash and cash equlvalents at the end of the Mportlng period 5S7 815 452 080 The note5 form part cl Ihese financial staiernents -22-
CITIZENS ADVICE MERTON AND LAMBEfH UMfTED NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 RECONCIUATION OF NET (EXPENDrnIRE)IZNCOME TO NET CASH FLOW FROM OPERATING ACTivrrIES 2024 2023 Net (expenditure)lincome for the reporting period (as per the Statement of Financial Activities) Adjustments for. Interest received Decreasel(Increase) in debtors Increasel(decrea5e) in creditors (20,437) 17,023 (3,356) 2,470 (1,857) 1589) Net cash provlded byl(u5¢d In) operations 17 553) ANALYSIS OF CHANGES IN NET FUNDS At 114123 Cash flow At 3113124 Net cash Cash at bank and in hand 452 080 105 735 557 815 452 080 557 815 Totsl 452 080 105 735 557 815 MAJOR NON-CASH TRANSAcfIoNS Donated facllltles In accordance with the Charities SORP FRS 102 the charitable company has induded in income the notional rent of £41,540 (2023 £41,540) for cupYing 5ervicet1 accommojation in Morden and Mitcham. The valuation of the notlonal rent was provlded by the London Borough of Mertijn. The notional rent expendlture charge Is Induded within support cost5. Donatsd advertislng During the year the charity reIVed £4,700 (2023 £78,000) Google Ad Grant In In-kind Gcogle Ads advertislng. No amount was recognlsed in Income and expenditure In the current year as the amount was not material. In the preou5 perlods the charty recognlsed the corresponding expense on the statement of financial attlvltles withln communlcation and research support cost& The note5 form part of these finanaal ststements -23-
CITIZENS ADVICE M ERTON AND LAMBEfH LIMITED NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 GENERAL INFORMATION AND LEGAL sfATUS The charitsble company Is a private company incorporated and domiciled in England and Wales. The address of its registered office is 7 Crown Parade, Crown Lane, Morden, Surrey SM4 5DA. The registered number of the company is 02914384. The registered number of the charty is 1046018. The financial information presented 15 for the year ended 31 March 2024 and 31 March 2023. The flnancial Information is presented in sterllng whlch is also the charitable company's functional currency. Monetary amounts are rounded to the nearest pound. The charitable company ha5 no share capital. Every member of the charitable company undertakes to contribute to the assets of the charltsble company in the event of the company being wound up whlle he is a member, or within one year after he 05e5 to be a member, for payments of the debts and liabllities contratted before he ceases to be a rnerner and of the c05t5, charges and expenses of winding up and for the adJ"ustment of the rights of the contributories among themselves, such amount as may be required not exceeding £1. ACCOUNTING POLICIES Basts of prepjring the flnancial ststements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charitie5 SORP (FRS 102)'Accounting and Reporb'ng by Charities: Statement of Recommended Practice appllcable to charitles preparing their accounts in accordance with the Flnancial Repong Standard applicable In the UK nd Republic of Ireland (FRS 102) (effectlve l January 2019),, Financial Reporting Standard 102 The Financial Reportlng standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Preparation of the accounts on a golng concern basls The financlal statements have been prepared on the assumptlon that the charlty is able to continue as a going concern, which the tru5tee5 consider appropriate having regard to the current level of unre5tritted reserves, the financial position, future plans and the expected level of income and expenditure for 12 months from authorising these financial Statements.There are no material uncertalnties about the charity's ability to continue as a going cOnrn. Significant judgements and estimates Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include.. Defined benefit pension scheme. Actuarlal assumptions used In the calculatlon of the defined beneflt pension liabilty. Income All income 15 recognised in the Statement of Financial ACtItieS once the charity ha5 entitlement to the funds, it Is probable that the Income wlll be recelved and the arnount can be measured reliably. Income in respect of servi5 provided Is recognlsed when, and to trte e*cent thati performance occurs and is measured at the fair value of the consideration receivable. The main source of income for the charty is contratts for seNices and grants with the London Borough of Merton and the London Borough of Lambeth. Voluntary income 15 recelved by way of grants, donation5 and gifts and Is Included In full In the Ststement of Nnoncial Attivibes when receivable. Grants, where entitlement 15 n()t conditional on the delivery of a specific performance by the charity, are recogni5ed when the charity becomes unconditionally entitled to the grant. Income from grants, where related to performance and specific dellverables, are accountsd for as the charity earns the right to the con5ideratlon by its performance. Grant income relating to a later period 15 therefore deferred to that period and treated as deferred income in the balance sheet. Expenditure Liabilitie5 are recogni5ed as expenditure as soon as there 15 a legal or constructive obllgation committing the charlty to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure 15 accounted for on an accruals basis and has been dassified under headings that aggregate all c05t related to the category. Where costs cannot be direttly attributed to particular headings they have been allocated to attiwties on a basis consistent with the use of resources. -24-
crrizENS ADVICE MERTON AND LAMBETH LIMrrED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Governance costs These are the costs assl3ted with the g0Veman arrangements of the charity. These indude audit costs, the cost of legal advice for trustees and costs associated with trustee meetings and preparing ststutory accounts. Induded within governance costs are any costs associated wth the strategic as opwsed to day-to-day management of the charitys activitles. Allocation and apportionment of costs Suppjrt costs are those functions that assist the work of the charity but do nct directly undertske charitable activities. Support costs include back Offi costs, finan, pernnel, payroll and governan costs which support the charrty's activities. These sUPPOrt costs have been allocated to the actlvlties undertaken by the chanty on the basis of the usage of those costs by the activitles. Tangible fixed assets Tangible fixed assets are depreciated at the following rates: Computer servers Desktop computers Laptop computers 20% straight Ilne 25% straight line 33% straight line Where project funding has been used for the purchase of tsngible fixed assets they are depreciated over the lifetime of the project or as atrJve, whichever is the shorter. Taxation The charity is exempt from corporation tsx on its charitable activities. Defined benefit pension scheme The company participates into the The Pension Trust Retirement Solution scheme - The Growth Plan, a multi-employer scheme which provides benefits to some 1,300 non-associated participating employers. The scheme is a defined benefit scheme In the UK. It is not possible for the company to obtaln sufficient Information to enable it to account for the scheme as a defined beneflt scheme. Therefore It accounts for the scheme as a defined contribution scheme. The scheme is subject to the funding legislation outlined in the Pensions Att 2004 which came into for on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporfjng Councll, set out the framewot for fundSng defined benefit rxcupational pension Schemes In the UK. The scheme Is classified as a 'last-man standlng arrangement,. Therefore the company is Potentially liable for other participating employers, obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. Fund accountlng Unrestricted funds can be used in accordance with the charitsble objectlves at the dixrebon of the trustees. Restritted ftjnds can On be used for particular restrltted purposes within the obJett5 of the charity. Restrictions arise when speclfled by the donor or when fund5 are ralsed for particular restricted purposes. Further explanation of the nature and purFrfJ5e of each fund is included in the notes to the finanual statements. Donated facilities In accordance wlth the Charitie5 SORP FRS 102 the charitable company ha5 Induded in income the notional rent for cccupying Serviced accommodation in Morden and Mitcham. The valuation of the notional rents wa5 provided by the London Borough of Merton. Donated advertising In accordance with the Charrtie5 SORP FRS 102 the charitable company has induded in income the in-kind estimate of Google Ads advertising. The corresponding expense is recc4Jnised in the statement of financial ath'wties within communication and research suppjrt costs. -25-
crrizENS ADVICE MERTON AND LAMBEfH LIMITED NOTES TO THE FINANCIAL sfATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Cash at bank and in hand Cash at bank and in hand includes cash and short tem1 highly liquid investrments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Debtors Debtors are recognised at the settlement amount due. Prepayments are valued at the invoice amount prepald. Creditors Creditors are recognised where the charity has a present obligation resulb'ng from è past event that will probably result in the transfer of funds to a thlrd paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognlsed at their settlement value. Financlal Instruments The charitable company only has financSal assets and finanaal liabilities of a kind that qualify as basic financial instruments. Basic financSal instruments are Inltlally recognlsed at transartion value and subsequently measured at thelr settlement value. Leaslng commitments Leases that do not transfer all the risks and rewards of ownerthlp are classified as operatlng leases. Payments under operatlng leases are charyed to the statement of flnandal activities on a 5tralght-line basls over the Ilfetlme of the lease. Voluntsry help A certain amount of time is expended on the charitable companvs activities which is donated free of charge. In accordance wlth Charities SORP (FRS 102), volunteer time is not recognised. Detsi15 of volunteer support and service5 are provided in the trustees, annual report and the notes to the accounts. DONATIONS AND GIFfs IN KIND 2024 2023 Gifts in klnd Donations 41,540 41,540 Included In donations is a restricted donation of £35,000 (2023: £35,000). INVESTMENT INCOME 2024 2023 Deposlt account Interest -26-
CITIZENS ADVICE MERTON AND LAMBEfH LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE ACTIVITIES Income from grants and contracts: 2024 2023 Income from Generalist advi. Unrestrlcted London Borough of Nerton - Generallst advi SeNiS London Borough of Lambeth - Generalist adce ServIS Google Ads (benefit In kind) 431,068 285,500 355,000 241,000 716 568 674 000 Income from other projects., Unrestrlcted London Borough of Lombeth - Chlldren's Centre London Borough of Merton - Disability Benefit London & Quadrant Pound Advlce Wimbledon Guild Larnbeth Councll Tax Summons Seryice Lambeth Cost of Livlng Advlce 64,000 25,000 80,000 25,000 34,359 18,000 30,176 21,925 29,930 179 744 220 303 Restricted Greater London Authodty - Cost of Living Advlce London Borough of Merton - Cost of Llvlng Advi London Borough of Merton - Merton Debt Advisor London Borough of Merton - Citizens Advice Adrenaline Service London Borough of Lambeth - Llving Well Trust for London - Immigration The Walcot Foundatlon AFA - Advice First Aid The Wimbledon Foundation 91,125 75,000 45,000 54,000 So,0 45,000 30,000 49,900 42,000 25,000 41,750 7,500 16,666 280 791 295 900 Totsl incorne from other projetts and benefit In nd 460 635 594 203 Summary of total Income: Unrestrlcted Income - Generalist advice Unrestritted Income - other projects Unrestricted Income - gift in kind donated facilltles (note 3) Unrestricted Income - donation5 (note 3) unstricted Income - investment and other 716,568 179,744 41,540 963 674,000 220,303 41,540 4,586 Totsl unrestritted income 963 743 950 043 Restricted income - donations {note 3) Re5tricied income - other projects 35,000 28a 791 35,000 295.900 Total re5tritted Income 315 791 330 900 Total Income - Statement of Flnancial Activities 1 279 534 1 280 943 -27-
crrIzENS ADVICE MERTON AND LAMBEfH LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 RAISING FUNDS Raising donations and legacies 2024 2023 Fundraising expenditure CHARITABLE ACTivfTIES cosrs Support costs (see note 8) Direct Costs Totals Merton Advlce, Advicellne & Informatlon Services Lambeth Advlce, AdvlttlSne & Information Services Lambeth Chlldren's Centre Greater London ALthorlty - Cost of Living Advice Merton C05t of Living Advice Lambeth Living Well Immigration Lambeth Council Tax Summons Servlce Merton Disability Benefft other Services and Projects Lambeth C05t of Llvlng Advice 400,333 96,123 496,456 290,735 60,187 85,172 12,969 375,907 73,156 82,253 63,350 32,479 44,117 21,810 13,730 32,025 9,554 7,010 4,552 785 5,004 3,149 17,204 91,807 70,360 37,031 ,902 26,814 16,879 49,229 1051599 243 587 1295 186 Summary of totsl expendlture 2024 2023 Charitable artivities costs (at#)ve) Fundraising expenditure (note 6) 1,295,186 1,260,006 Total Expenditure - Ststement of FSnanclal Activltie5 1299 971 1263 920 -2
CITIZENS ADificE MERTON AND LAMBEfH LIMrrED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS SeNice support costs Human resources Finance Merton Advi, Adviceline & Information Setvjces Lambeth Advice, Adviceline & Information Savices Lambeth Children's Centre Greater London Authority - Cost of Living Advice Merton Cost of Liwng Advlce Lambeth Llving Well Immlgratlon Lambeth Council Tax Summons Servlce Merton Disability Benefit other Services and Projects Lambeth C05t of Living Advice 78,613 9,544 2,281 73,035 10,401 7,650 5,613 3,645 646 4,D07 2,506 15,560 6,618 1,411 1,038 762 495 88 544 340 895 224 1,582 337 248 182 118 21 130 81 215 203 330 Communicatlons and research Governan costs Totals Merton Advice, Adviceline & Information Services Lambeth Advice, Adviceline & Information Services Lambeth Children's Centre Greater London Authority - Cost of Llvlng Advlce Merton Cost of Living Advice Lambeth Living Well ImmigraOn Lambeth Councll Tax Summon5 Service Merton Disability Benefit other Service5 and Projects Lamb&h C05t of Living Advice 2,309 3,376 96,123 1,601 341 251 184 120 2,336 479 367 269 174 30 191 140 317 79 85,172 12,969 9,554 7,010 4,552 785 5,004 3,149 17,204 132 82 217 54 243 587 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after thargingl(crediting): 2024 2023 Audit fees Other non-audit services 4,500 5,CMJO -29-
crrIzENS ADVICE MERTON AND LAMBETH LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 TRusfEES' REMUNERATION AND BENEFITS There were no trusteeg remuneration or other beneffts for the year ended 31 Marth 2024 nor for the year ended 31 March 2023. Trustees, expenses During the year no trustees were relmbursed expenses (2023 £nil). ii. STAFF cosrs 2024 2023 Salaries and wages Social security costs Pension costs 943,362 80,132 852,118 76,668 1057 216 948 568 The average monthly number of employees during the year was as follows: 2024 2023 Senior Management Team Ser4iceTheam Managers Servlce Teams 31 28 40 36 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2024 2023 £60,001- £70,000 The key management personnel of the charltable company are the senlor management team, whlch Indudes: (i) Chief Executive Officer (li) Head of Advi SeNices (iii) Head of Adviceline, Informatlon and Faalities (Iv) Head of Projects and Quality The key management rrsonnel reiVed benefts during the year of £203,497 (2023: £156,372). Volunteers The CAML Servi vdunteer team was 27 at 31 March 2024 (2023.. 45). -30-
cmzENS ADVICE MERTON AND LAMBETH LIMrrED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 COMPARATIVES FOR THE ATEMENT OF FINANCIAL ACTIvrrIES Unre5trirted funds Restricted funds Total funds INCOME FROM Donatsons and gifts in klnd 46,126 35,000 81,126 Charitsble artlvities Merton Advice, Adviceline & Information SeNices Lambeth Advi, AdViline & Information Services Lambeth Children's Centre Greater London Authority - Cost of Livlng Advlce Merton Cost of Living Advice Lambeth Living Well Immigration London & Quadrant Housing Lambeth Councll Tax Summons Service Merton Oisability Benef Other Services and Projects 394,000 285,000 80,000 75,000 25,000 469,000 310,000 80,000 54,000 50,000 49,900 42,0 34,359 30,176 25,000 45,768 54,000 50,000 49,900 42,000 34,359 30,176 25,000 45,768 Investsment income Other Income 1,857 1,857 Total 950 043 330 900 1280 943 EXPENDITURE ON Raising funds 3,914 3,914 Charitable actlvltles Merton Advi, Adviceline & Informatlon Servlces Lambeth Advice, Advlcellne & Information Services Lambeth Chlldren's Centre Greater London Authority - Cost of Llving Advlce Merton Cost of Living Advice Lambeth Living Well Immigration London & Quadrant Housing Lambeth Council Tax Summons Service Merton Oi5ability Benefit other Services and Project5 384,236 354,366 71,633 104,429 49,680 488,665 404,046 71,633 54,960 24,057 47,371 41,879 45,943 28,223 23,317 54,960 24,057 47,371 41,879 45,943 28,223 23,317 309 Totsl 941 235 322 685 1263 920 NET INCOME Other recognlsed gainsl(108ses) Actuarlal gains on defined benefit schemes 8,808 8,215 17,023 968 968 Net movement In funds 9,776 8,215 17,991 RECONCILIATION OF FUNDS Total fund5 brought forward 353,601 79.562 433,163 TOTAL FUNDS CARRIED FORWARD 363 377 -31-
CITIZENS ADVICE MERTON AND LAMBEfH UMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 13. TANGIBLE FIXED ASSErs Fixtures and frtings cosr At l April 2023 and 31 March 2024 103 631 DEPRECIATION At l April 2023 and 31 March 2024 103 631 NET BOOK VALUE At 31 March 2024 At 31 March 2023 14. DEBTORS: AMOUNTS FALLING DUE wmiIN ONE YEAR 2024 2023 Trade debtors Other debtors Accrued income Prepayments 20,000 517 12,041 15,501 350 19,500 15. CREorroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade credltors Soaal security ané other taxes VAT other creditors Deferred Income Accrued expense5 5,347 18,686 11,117 17,145 1,146 6,538 6,504 128,811 165 948 2024 2023 Balan broLJght forward Amounts released to incoming resources Amounts deferred in the year 30,000 (30,000) 128811 Balan carried forwa 128 811 Deferred income comprises income received durlng the year which relates to the next financial year. Deferred Income indudes restrlcted deferred Income of £62,700. -32-
crrIzENS ADVICE MERTON AND LAMBEfH LIMITED NOTES TO THE FINANCIAL sfATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 16. ANALYSIS OF NET ASSEfs BEfwEEN FUNDS 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Current assets Current liabllities Pension liability 506,739 (103,248) 795 91.628 (62,700) 598,367 (165,948) 495,102 (42,246) 402 696 431624 Comparatives for net assets btheen funds Unrestricted funds Restrlcted funds 2023 Total funds Current assets Current liabilities Pension liability 407,325 (42,246) 87,777 495,102 (42,246) 363 377 451 154 17. MOVEMErir IN FUNDS Net movement in funds At 3113124 At 114123 Unrestricted funds General Fund Pension reserye 365,079 38,412 907 403,491 363,377 39,319 402,696 Restrlcted funds The Walcot Foundatlon Restricted Donatlon Trust for London L3mbeth VIng Well London P*)rough of Merton (Revenues and Benefitsl Merton Debt Adviser) Greater London Authority - Cost of Llvlng Advice London Borough of Merton - Cost of Living AFA (Advice First Aid) Community Advlce The Wimbledon Foundation 18,675 1,037 2,936 37,025 (18,675) (1,037) (3,174) (37,032) (238) (7) 3,121 (16) 3,105 (960) 25,943 (683) 4,650 2,311 (1,6431 30,593 2,311 TOTAL FUNDS 451154 431624 -33-
crrizENS ADVICE MERTON AND LAMBEfH LIMrrED NOTES TO THE FINANCIAL sfATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 17. MOVEMENT IN FUNDS- continued Net movement In funds, induded in the ave are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestrlcted funds General Fund Pension reserye 963,743 (925,331) 38,412 907 907 963,743 (925,331) 907 39,319 Restrlcted funds The Walcot Foundation Restricied Donation Trust for London Lambeth Llving Well London Borough of Merton (Revenues and Benefitsl Merton Debt Adviser) Greater London Authority - Cost of Llvlng Advice London Borough of Merton - Cost of Living AFA (Advice First Ad) Community Advice The Wlmbledon Foundadon 7,500 35,000 41,750 (26,175) (36,037) {44,9241 (37,032) (18,675) (1,037) (3,174) (37,032) 45,000 (45,016) (16) 91,125 75,000 16,666 (91,808) (70,350) (14,355) (683) 4,650 2,311 374 640) TOTAL FUNDS 1279 534 1299 971) 907 19 530) Comparatives for movement In funds Net movement in funds At 3113123 At 114122 Unrestrirted funds General Fund Pension reseNe 356,271 8,808 968 365,079 353,601 9,776 363,377 Restrlctsd funds The Walcot Foundation UC Help to Claim Merton Neighbourhood Fund Restricted Donation Trust for London Lambeth Living Well London Borough of Merton (Revenues and Benefftsl Merton Debt Adviser) Greater London Authority - Cost of Living Advice London Borough of Merton - Cost of Living 18,675 287 7,893 15,396 2,815 34,496 18,675 (287) (7,893) (14,359) 121 2,529 1,037 2,936 37,025 3,121 3,121 (960) (960) TOTAL FUNDS 433 163 -34-
CITIZENS ADVICE MERTON AND LAMBEfH LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 17. MOVEMENT IN FUNDS - contlnued Comparntive net movement in funds, induded in the at#Jve are as follows.. Incoming reSoUrS Resources expended Gains and losses Movement in funds Unrestricted funds General Fund Pension reserve 950,043 (941,235) 8,808 968 968 950,043 (941,235) 968 9,776 Restrlcted funds The Walcot Foundation UC Help to Clalrn Merton Neighbovrhood Fund Restricted Donation Trusi for London Lambeth Living Well London Borough of Merton (Revenues and Benefits/ Merton Debt Adviser) London Borough of Merton - Citizens Advice AdVI[lne SeNice Greater London ALbthorty - Cost of Living Advlce London Borough of Merton - Cost of Llving 25,000 (25,000) (287) {7,893) (49,359) (41,879) (47,371) (287) (7,893) (14,359) 121 2,529 35,000 42,000 49,900 45,000 (41,879) 3,121 30,000 (30,000) 54,000 (54,960) 24 057) (960) 330 900 322 685 TOTAL FUNDS 1280 943 1263 920) 968 Unrestricted Funds The Pension reserve is a designated reserve set aside to cover the Ilability for the obligab'on on the defined benefit scheme. Restricted Funds l) The Walcot Foundatson This grant SUPPOrts the full employment co*s of our Larnbeth Advlce Supervisor. 2) Restricted Donation We are extremely grateful to a major donor who Is supportlng the ci)sts of a serllce manager role (Head of Quality and Projects) a priority for the charity to support our team and clients. 3) Trust For London This two-year grant 5UPWrts the full employmert costs of our Immigratlon Adviser. 4) Lambeth Living Well CAML advisers working in local community outreach venues across Lambeth - induding Lambeth Living Well Bus and West Norwood Community Shop - focusing on priority areas of advi need. 5) London Borough of Merton - Merton Debt Adwser supports a dedicated debt adviser to support Merton residents. 6) Greater London Authority - Cost of VIng Advice For the delivery of c05t of living crlsls prevents'on advice and 5peciali5t caseworL 7) London P•Jrough of Merton - Cost of Living Adw For the delivery of advi to Merton residents affected by the cost of living crisis. -35-
CITIZENS ADVICE MERTON AND LAMBEfH LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 17. MOVEMENT IN FUNDS- continued 8) AFA (Advice First Aid) Community Advi Supports a full-time adviser acptIng referrals from community partners under the Cost of Living Crisis Prevention Advice Project, and the development of Advice First Aid. 9) The Wimbledon Foundation Supports faCtrtO-fa adm and advi work in Merton. 18. EMPLOYEE BENEFrr OBLIGATIONS The company partiapates in the scheme, a MU1*MploYer scheme which provides benefits to some 638 nOn-asS1ated participatr.ng employers. The Scheme is a defined benefit scheme in the UK. It Is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefft scheme. Therefore it accounts for the scheme a5 a defined contribub'on scheme. The scheme is subject to the funding legislation outlined In the Pensions Act 2004 whlch came Into force on 30 December 2005. Thi5, together wth documents iue by the Pensions Regulator and Technical Attuarial Standards i55ued by the Financial Reporting Council, set out the framework for fvnding defined benefit occupational pension schemes in the UK. The scheme 15 dasslfled as a 'last-man standing arrangement,. Therefore the company is potentialty liable for other participating employers, obligations if those employers are unable to meet thelr share of the scheme deficit followlng withdrawal from the scheme. Participating employers are legally required to meet their share of the Scheme deficit on an annuity purchase basis on withdrawal from the scheme. A full actuarial valuation for the scheme was c3rried out at 30 September 2020. Thls valuatlon showed assets of £800.3m, liabilities of £831.9m and a deficSt of £31.6m. To elimlnate thls funding shortfall, the Trustee has asked the participatlng employers to pay addthonal contributions to the scheme as follows: Deficit contrlbutlons From l April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly). Unless a concession has been agreed wlth the Trustee the term to 31 January 2025 applies. Note that the scheme's prevlous valuatlon was carried out wlth an effectlve date of 30 September 2017. Thls valuation showed assets of £794.9m, liabileS of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contrlbutlons to the stheme as foll¢)ws: Deflclt contributions From l April 2019 to 30 September 2025.. £11,243,000 per annum (payable monthly and increasing by 3% each on 1st April). The recovery plan contributions are allocated to each partiapatlng employer in line with their estimated share of the Series l and Series 2 Scheme liabilib'es. Where the scheme is in defiat and where the company ha5 agreed to a deficitfijnding arrangementthe company recognises a liability for this obligation. The amount recogni5ed is the net present value of the deficit reduction contriblOn5 payable under the agreement that relates to the deficit. The present value Is calculated using the discount rate detsiled in these di5c105ure5. The unwindlng of the discount rate is recognised as a finance c05t. Present value of provlsion 31.3.2024 31.3.2023 31.3.2022 Present value of provision £795 -37-
crrizENS ADVICE MERTON AND LAMBETH LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR ThE YEAR ENDED 31 MARCH 2024 EMPLOYEE BENEFIT OBLIGATIONS - continued Reconaliation of opening and closin9 provisions 31.3,2024 31.3.2023 Provis(on at start of period Unwinding of the discount factor (interest expense) Deficit contrlbution paid Remeasurements - impart of any change In assumptions 1,702 65 (973) 2,670 50 (973) ProvlsSon at end of period 795 Income and expendlture Impact 31.3.2024 31.3.2023 Interest expense Remeasurements - impact of any change in a55umptions 65 50 Assurnptions 31.3.2024 31.3.2023 31.3.2022 Rate of discount 5.31Vo 5.52010 2.35% The discount rates shown above are the equlvalent slngle dlscount rates whlch, when used to dlscount the future recovery plan contributions due, would give the same results as uslng a fvll AA corporate bond yleld curve to dlscount the same recovery plan contributions. The follong schedule details the deficit contributions agreed be the company and the scheme at each year end period: Deficit Contrlbutlons Schedule Year endlng 31.3.2024 31.3.2023 31.3.2022 Year I Year 2 Year 3 811 973 811 973 973 811 The company must recogni5e a Ilabllty measured as the present value of the contrlbution5 payable that arise frorn the defiat recovery agreement and the resulting expense In the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the peric>J in which it arises. It is these contributions that have been used to derive the company's balance sheet liability. Defined contrlbutlon Kheme Included in other creditors is a pension Ilability of £6,127 (2023 £5,479) due to The Pension Trust. -37-
CITIZENS ADVICE MERTON AND LAMBEfH LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 19. CONTINGENT LIABILITIES Debt on withdrawal from the multi-employer defined benef pension stheme (rhe Pension Trust Gr0h Plan) As of 30 September 2023, the estimated cost of wthdrawal from the multi*mployer defined pension scheme has been cakulated to be £15,028. The estimated debt 15 calculated on the solvency or 'buy-out' basis. This is the Scheme Actuary's estimate of the pricing basis used to secure pension liabilities wlth an insurance company in full at 30 September 2023. Provislon has not been made for this amount as the charty has not withdrawn from the scheme. Employment Tribunal There is a h55torical employment trlbunal clalm which Is stlll outstanding and Is due to be heard at the Employment Appeal Tribunal CEAT) and p055ibly to be remitted to the Employment Tribunal (En agaln for further hearlngs. As at the reporting date, there ère Substantial uncertainties as to what grtyjnds, if anyi will be upheld and If so may be remitted to . On that basis, no provlsion can be reliably estimated. 20. RELATED PARTY DISCL05URES There were no related party transactions for the year ended 31 March 2024.