Company registration number 03091635 Charily règistraiion number- 1049632 AMENDING BRENT CITIZENS ADVICE BUREAUX (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2021 BREBNERS Chartered Accountants & Slalulory Auditor 130 Shaftesbury Avenue London W1D5AR
BRENT CITIZENS ADVICE BUREAUX Contents Reference and Administrative Details 1 to2 Trustees, Report 3to 13 Independ&nt Auditors, Report 14to 17 StatèTnent of FinanGial Activities 18to 19 Balanc8 Sheet 20 Slalement of Cash Flows 21 Notes lo the Financial Slalements 22to40
BRENT CITIZENS ADVICE BUREAUX Reference and Administrative Details The Irust8es, who 8re director3 for th8 purposes of company law, present the annual report together with th8 financial 5131ements and auditors, report of Ihe charitable company loi the year gnded 31 March 2C21 The financial slalemenls have been prep3red in accordance wilh the accounting policie5 set out on pages 18 and lg and comply with the Comp8nie8 Act and applicable law Thg Trustees, Repon Include8 th8 Dir8Ctors' Report as wuired by ¢Dmpany law. Charity Rgglstrotlon Number 1049632 Company Registration Number 03091835 Prlnclpal Ofn¢• 270-272 High Road London NW10 2EY The charity ig Incorporatod in England 2nd Wales. Page I
BRENT CITIZENS ADVICE BUREAUX Reference and Administrative Details Chairrna David Askwith Vlce Chairman John Bash Chlef Ex¢cutlv• Offlcgr Jacqugline Carr Trustees David Askwilh John Bash Mabel SumnEr Victor R8e-Reeves Louisa Martin Linda Lam Marie Helen Gla$son Robert Roscoe Mohamoud Ibrahim Ideceased De¢ember 20201 Sanioy Sen Iie51gned November 20201 Sacretary Sophia Johnson Bankorn National Weslminster Bank PIC Park Roy31 Branch 1 Abbey RDad Loiidon NW107RA Auditor Br&bners Chartered Accountants & Stalutory Auclitor 130 Shaftesbury Avenue London W1D5AR Page 2
BRENT CITIZENS ADVICE BUREAUX Trustees. Report for the Year Ended 31 March 2021 I. STRUCTURE. GOVERNANCE AND MANAGEMENT 1.1 8renl Citizons Advice Bureaux Is a campany limited by guarantee governed by Ils Momorandum and Articles ol Associalion dated December 2007. 11 is registered as a charity with the Charity Commission Until otherwise deterTnined by the Bureau in General Meeting the nutnber ol Tfuslees shall not be neither less than nine nor more than wenty being 8ilher-. al elected al the Annual General Meeting. Jnd who Sh211 hold office from th8 conclusion of that rneeting bl notnin8led by a member organisation ¢1 co-opted by the Trustee Board, Provided that Ihe total nurnbef of co-opted and nominal8d Trustees doeg not excead one third of the lolal number ol Tru51ee5 Each appoinlfflenl of a co-opted or nominated Trustee sh311 bB made at an ordinary w&eting Df the Trustee Board and shall lake Èlfecl Immedi3lely unless the dypoinimènt is to lill a place which ha5 not yel been vacated In which :3se the appo'ntmenl shall run from the dat8 when Ihe post becomes vacant All &lecled Trustees shall rolire frorn othce at the third Annual Gener21 M&8ting IAGMI following the AGM at which ',hey were ele¢led but may be ie-elecled. All nominated or co-opted Trusi&es shall retirg from office al the third AGM following lh8 ordin2ry m8eling of the Trustee Board at which they were appointed bul may be re-3PPOlnted. At khe ordinary tneeling of the Trus:ee Board Immediately preceding the AGM. the Trustee Board shall (if review Member oigan15ations. and consider any application lor representation on the Trustee Board from any member organisalion., ATly proposal from a Trustee to offer representation on I.e TrLJSte8 Board lo any member organisation. Any proposal from a Trustee to offor rèprèsenlalion to a member organisation Can bo Voted on. If this motion 19 passed by a majority ol at least bwo-thirds ol the Trustees present the TrLJsiee Board will decid8 how long ',he oig3nisation c8n be represent8cl for and Invit& It lo nomin81& a repr&senlalive. As set aul In thé Articl&s of A550cia'.ion the Chair of the Board of Trustee5 Is nominated and elected ai the meeiing Imm8diately following the AGM Th8 Honorary Tr8asurer Is similarly nominated and eiÈcled. The AGM Is held each year In February. Th8 Chair Is perrnitled to serve for a lolal period of 6 yèars but Is elected or re-elected al the AGM The Trustee5 seek 10 ensure that the needs of the community are appropriat8ly reflected through the diver511y of Ihe Dody of Trusleg5. To enhance the potential pool of the Trustees. the charity has through selective 2dvÉrtising In the press and attending the AGM5 Of residents, associations, ana eorkIng with loe81 and national companiès and organisations. Sought lo Ideniify peopl8 who would bg Irilere51ed In joiiiiiig Ihe board and using their experi8nce lo assist thè charity The charity also en¢oLrages formèr clients lo join the board. Page 3
BRENT CITIZENS ADVICE BUREAUX Tru$toes' Report for the Year Ended 31 March 2021 In an effc>rt lo tnainlain a broad skill mi¥, TfU5tees are requested to piovide a Iisl of their skills land update Il each ygarl and In th& 8V8nt ol particular ski11s being 105t due lo r8tiremenlg, Individuals are approac,ed to Gffer Ihetnselve5 for eleelion to lh& Trustees. 1.3 In(tudon and Tffoln!DgA(Truo10fft3. Nw Trust8es undeigo an oiienlation p&riod ta brief them on their legal obligations under charity and company law, the content of the MeNDrandm and Articles ol Assot.ialion the board and (Jecision-making processes. Ihe busine35 plan and recent fir,8ncisl peiform3ll¢e of the chaiily. Prior to IDin1ng the Board, they are Invited to attend a board meeting and 3 5ub4ommirtÉe meeting. During the Induction period they tlleel key employees and Other TrLislee5 11 availat>le. Trustees are also qUired to attend the Induction training gvent provdd by CIliz&Trs AclviLE lo Inform Ihein aboul lh& national bureau sÈrvite Trustees arp ericouraged lo att8nd aopropri81a axlernal training evefils where thes8 would tacilii3le th8 undertaking of their role. Trustee5 are also encouraged lo attend staff brief ngs lo familiaris& themselves with th8 Issues concerning the day-104ay aclivitses ol the organisation. The Trusiees adminisl8r the charity. rhe Board meets 5 tirne5 a year, this can be a mOt& meeting, and IhÈre ale syb<oTnrnitt&es covering Finance, Audit and Exlernal Engagem&nt, and Personnel. Hea5th 2nd Safety and Premises, which meet a minimum of 4 time5 a year, again Ihis can be rewotely. An Executive Committee exists and Is charged With strategic planning and 3n InforTnal Truslpelslaff group Ilhe Innovation ancj SeNic8 Delivery Group) exists io meet to discuss innovation and service delivery. 1.5 Arran .l.o.LS.ott1tiLPoan_Ram0iratro.0ff K•y.MaoigMDoDl.Pg.roDfflol Trustees di8cus$ pay and remuneration 31 the Personnel Health and Safety anol Pretnises subcommittee and rnake r8commendaliDn5 to the full Board. Th8 b&nchmarks used 810 from the national Citizens Advic8 report on Local Cilizer,s Advice SH13ry Data, the last of which was Issued In 2020 This enables Citizen5 Advice BIEnl to sei salsries that are comparable to other local Citizens Advice offiees. Page 4
BRENT CITIZENS ADVICE BUREAUX Trustees, Report for the Year Ended 31 March 2021 1.6 BI14?99mfjD1 Thè Trus18es pay due attention lo risk maragemenl and review risks lo the organisation al regular InleNals. The Board has a risk m3nag8rnent slraiegy which comprises." An ann'Jal review ol the iisks the chaiily may lace Th8 èstablishment of systems and piocedurgs to mitigate those risks Identified ln the plan, The Imolemenlation of procedures designed to minimise any potential Impact on the charity should thos& The yeai enaiiig 3151 March 2021 has seen Ihe fifth year of the three year. plus one, plus one contract with London Borough of Brént. The atnounl paid under the contract reduce5 by 5 10 each year and as Ihis Is the dominaTrl contract il has had a major Influence on our budget. This contract h8s been 8xlended until 315t Mar¢h 2022 The cunlinualion of auslerily has rlleanl thBI LB Brnt and other organisalions have continued to redu funding lor services provid8d by Citizens Advic& Brènt ICABI. The &ff6cls of Welfare Relorrn and th8 impact of Universal Credit n the borough and the coiilinued consequence5 of 8rexit for EU Nati¢nals means that al 3 lime of reduceol funding demand for as515lance and advice continuès to grow. Th15 year has s8en the cblminalion of many years of planning. and work lo relurbisii Ih8 office, which was ¢omple18d In July 2020. although because ol the Impact of COVID has yet lo be fu15y utilised CAB aro grateful lo LB Brent for a large grant toward5 the costs The organisation had moved to temporary premises al The Lewinson Centre at 165 Willesd&n High Road. Where a drop-ln service was not possible, and this resul+ed In 2 number of changes to the way the se1¢& could be carried out. In many ways these prÈ*mpled ch3ng88 necessitated by the Cttronaviius lockdown from 23rd March 2020, and this allowed 3 smoother Irangltion lo working from lome. This Service df livery model continuea lor the whole year ard despite a nurnber of logistical challÈnges, continued 10 provide a service to th8 r&sidenls of Brent. Our thanks go lo LB Brent for thé glft of 10 laptops ID enable the tearn to work liom home. De5Plte the many challenges. there was a successful Cibz8ns Advi Audit In March 2021, and mo$1 areas examined received the highesi fJiings with governan and fisk managemeni In this c2legory. The main LB Brenl contract which should have ended in March 2021 was extended, initially for six months and thon 12 months allowing more lime to prepare thp organisalion lo bid for th& new lender. During 2020-21 the major contract once again continued lo be Ihe olle with LB 8rEnl. atthough the tontract with the Departmeni of Work and P¢n510ns. giving advice and support lo peopl& claiming Universal Credit 15 also a $19nificant Income stream and has beén renewed for another 12 month$ The year nas also seen Changes lo the Trus199 8oard and bNO naw Chairs of the sub-commillees. 8ecaus8 of the vaiious COVID regulations all Board and sub-committ8e meetings have been held rernolely. P2ge S
BRENT CITIZENS ADVICE BUREAUX Trustees, Report for tha Year Ended 31 March 2021 2. OBJECTIVES AND ACTIVITIES In setting obieclives and pl8nning for activities, the Tru51e63 have given due consideration lo general guid2ncÈ published by the Cliarily Corntn155ion relating to public benefit and In particular to Its supplement3ry public benalil guidance. 2.1 Gonoral obJoG.tLYoo Th& principal ohieciive of thp charty is 'Th8 pronlolion ol any chari13bl: PLJfPOSes for,'h& benelii of Ihp Gommiinity in London by tl18 3dtr8nLemÈiit of eiyucation, the proleciion of health and th8 Isli&l ol PLlV&rty. sickngss and d15frg55 The th2rily has the gen&ral aim ol contributing lo the quality ol life of the 335.300 rèsidents IONS eslitnatel Of the borough ol Brent through the prcvision ol free. Independent, Inipartial and confidential advi. Cilizei)s Advice 8rent ICABI prides itsplf on being a dynarnic, responsive organisalion, providing high quality advitt and Information for the full benèfit of Brent resiaenls OLJr advice covers the spectrum of 153LJes facing contemporary society Our Intervenliony frequently have a 51gnific3nl Impact on tr tlienls, live5 For example, during this ye8r of the pandemic we as515ted many Illore clients with applications for Universal Credit. Th& increa8Èd number of er,quirie5 io th15 category formed 21 lea51 15010 of th8 ben&fil enquiries we received an increase 01250 lu on tho previous year Our aim alvjays Is lo ensure have a better urder51anOing of their legal position and greater confiden¢e lo assert and political change has Impacted on the boraugh The Trustee Board acknowledges the Inherent challengE5. bul lo continue to provide a relevanl sep4ice In '.he modern erd. wè rnusl embrace change, adapt 3nd be 21ort fDr fresh oppOrtunlIeS 10 sustain and uevelop the vital rol& w8 perform Due lo th8 obvioLJS need for aclvice and 5UPPOrt on Universal CrEdit 35 a result of the pandernic. Citizens dvice rnanaged to Secure funding frorll Ibe Departrnenl lor Work and Pensions lo enable local Citizens Advice offices Ihrou9hodl Enylaiid and Wales lo support c1811narils. The pioiEcl 15 eiililled Help lo Claim. Prior lo the ¢105ure of job c8nlres during ',he pandemic, CAB provided advice al both Har1esden and Wembley Job Cenires. Wle now help claimants rèmtriÈly by telephone and webchat High levels of demand for our service continue. whelh8r delivered remotely by telephone or electronically 11 has not been p0551ble lo run 2 drop-ln service and there has beeri Iiicieased dem3na on the telephone sÈNice and pgopl8 r8questiDg advice via ema,.1 In particular. On& of our tasks Is 10 aggrpgate 3nonymisett Inlorm31ion obtained frotn in(Jividual cli&nls so that Il ean be used by national CiliLeFis Advice lo Inform ntral government ol the consequence of legislativc. cconomic and social change for Brcnl rosidenis In the various categories ol advice that we offer and ive coiitinue lo do this and provide Litizens Advice with fèedback on Ihgir fesearch and c8mpaign agenda. Th8 challenge lo CAB Is 10 maintain a highquality Seitt at a time of change when the competition for funding Ihroiighoui tha voluntary sector continues lo In=rease 3s In past years iwe greatly appreciate Ihe recognition giveii lo tsur work by the London Borodyh o)1 Brenl since CAB'5 iocepFion al 115 current location In 1981. Despite unparallÈle4 pressure on Ils r&sourc&s, the Council continues to support and encour3g8 cur work. Central to the wDrk til the orgèn15alion Is Ils educational role. both by enabling clien15 to exercise etter ¢onlrol over th8ir Iiv&s by easily at=essing the Inform81ion th&y need. ard through the recruitment and training of a tearn of local volunloors. P3ge 6
BRENT CITIZENS ADVICE BUREAUX Trustees. Report for the Year Ended 31 March 2021 As a result ol the skills acquired by our volunteers under a rigorDUS, bul suppartive training programme led by our Training Officer. most volunteers who leave our service succéssfully obtain paid work In a range of different C3reers. CAB is prcud lo contribute to the local economy In this viay The recruitment and training of volunteers during the year was h3pered by COVID reslriclions 2.2 Qatsqo.rq.1drt.ad As In previous year5, the demand for advice In welfar8 ber,efils, debt. employment 3nd holising was high and accounted for 88P/g of all ei)quiries, up 9 pèrcenlag& points on last ye3r. Financial gain5 madè lor ¢lienls during the year were £2 541,786 an Increasa of 701 on last year The number ol people frorn Black, A313n and minority ethnic backgroundg présenling al CAB fell to the lowest recorded In trany years al only 410lJ ol all clignts. The pandamic brought a surga ol While British clients. an Increa59 trom 8 /0 last year lo 23Dlo this year. These repres8nled people who would not ordinarily have come lo CAB bul have found themselves In need ol advice due lo the Impact of '.he pandemic, finding th&mselve8 laid off work. furloughed or having to c121ffl benefi15 for the first time. We will be monitoring thS closely to measure Ils Ther& was 3150 a slight recluction in tlienls from 'Other While background, al 14010. 36Q/o of our clients were disabled or had a long-term limiting health problem, down Irorn 41 % last year. 55Q/o of our clients were women Idown 210 on la51 yearl The number of people aged 25 and over approaching CAB continued lo be high, with 87.th aged bètwèon 25 2nd 64 Both the und81 25s and the aver 64s who consulted us retnained Itm. with bath under 25s and those over 65 being just 7910, the latter having reduced from 10,/. last year- yel another victim of the pandemic. Our shop-front pr8mises on the W111e5den High Road with 3 bus slop oulside th& door mean that we are visible and acc8ssible r&source for our cliÈnls, 35°/o of whom liv& In local wards. Stonebridge. Harlesden, Vdillesden Green and Kilburn. 2.3 Byth¥.IPJon Our obiÈclives lor 202U121 were lo-. 1. Maklng it ea818r to get relevant advlce Sn Breni CAB want to make Il Èasier 10 gel relevant advice In Brent by providing an a¢¢essible and multi-channel servi that rneet$ a$ m2ny Loniinunity and clienl needs a5 possible and respond lo clianging iieÈds CAB will Improve Its telephone advice servicg a5 3 priority. When we s&e clien15 face-to-lace we will provide our serviees In a pleasant. well-equipped and well-designed environrnenl. 2. Being mofe influential We will use the evidence provided by clients and users to be more Influential. dev81oping and conlribuling 10 rosear¢h and camp35gn activity that leacls lo ImprovÈmen's In policy 8nd practice and prevents problem5 and systemic failure We will woik In partnership with other agencies and oiganisalions wherever possible and und&rtake 'esearch and campaign work'.0 underslard and prevent systemic failures. 3. Bg¢omlng a stronger and mor9 Sustainablo $gTViCV and organisation CAB aitD5 to becornÈ a stronger and mor8 sustainable seiCe ancl organisaiion and aims lo be th8 first choice for funders and commis510ners We will inc.easo our financial 8UStain2bilily by diversitying our funding portfolio and look 81 mofe Innovative wèys of IncotnE generation. Page 7
BRENT CITIZENS ADVICE BUREAUX Trustees. Report for the Year Ended 31 March 2021 4. Being an oryanisation stafl and voluntggr5 lovo to work for CA8 will create a iullure that Is friendly, collaboraiivs and Innovative an(1 that adapts to the changing needs of our client5 Equaliiy. diversiry and Incl-Jsion will bè lundampnial to this tultdrÈ Whai should have been a return to refurbished offices that were Ill for purpose for boih clients and staff as Iruslraied by Ik.e various COVID restricl'ons Insiead from a totally olfice-basÈd and public facing seNi¢e. the organ1s3tion rnanaged lo fftigrate lo a remote hom8-based s8Nice, complying with GDPR and continuing to Lleliver the service al the required Standard. 3. ACHIEVEMENTS AND PERFORMANCE The level of demand has COntinu8d lo be high as Is rellect&d In the high volume of clients CAB dealt with during Ihe year. The bald figures cannot rellecl the complexity ol som£ of th8 cages resolved which viere rnDre challenging for the 3dvice team because of changes 10 legislation underpinning the govèrnmonl s attempts '.0 tackle the pandemic, eg the Introduction ol Ile furlough scheme and reslriclions on lkne recovery of debts and reposse5510n ol accommodation. CA8 ha5 had lo train all paid staff and volunteers In these new major areag as well as the changes to other categorie5 of our work Our team ha5 be&n Instrumental In training advisers In DlhEr organisaliDn5. Cor8 Advice Servica We h3ve a contract with Brent Council lo deliver advice services lo people who live, work Dr study in th8 borough Wle ar8 exp6rt5 in welfare benefits and debt and are a¢¢rediied with an AQS standard In general help with casework This accreditation was renewed In May 2021. We work clasely with Age UK Harrow, Hilling<Joii and Brent making referrals for p8op18 in need through eilher disability, or Ill hèalth. ur who have care r88ponsioililies anLI who Treed home visits. Durirg the P3nd8mic, AUKHHB h8V8 also b8en working remotely bul have continued lo provide a service. The overall council funding of £502,255 lof which É97.090 was paid lo partners! enabled us lo help witn 15,449 enquiries lan Increase of 16QA on last y&8rl Experiènce aS shown Ihal inve51inent In our advice servic98 directly benefits the Council becau58 our early iYterv&nlion can avert costly 8xp6nditur& on sla'.utory sÈNices further dawn the line, as 15 demonstrated by the positive outcorN85 we obtain for local residents The second contract, for which we are required lo form arid devElop an advice network and adminislei a grant progr)mrTr$ Is subconliaclecl lo CVS Bf&Trt CVS Brent also continua lo support us with the development ol the Brent Advice Matters IBAMI web51te and are subcontracted to do so.. the website Is design&d lo Improve access '.0 local advice and to assisl ivilh self_help lo those resident5 who are able lo support themselve8 which has been even more Importanl In the last year Visils to the 51te this year Increased by 25nl. S.p.e.clall.1149ry.Ic This s a pan-London debt advice sÈivitt.e, funded by the Money and Pen510n5 Service IMaPSI with 23 participating oiganisations. foynboe Hall Is IhÈ proiÈtt lead The contract Ihis year Is consid&r3bly mor8 onerous, with several new -hallenging KPIS being Introduce4 Wlhilst IhB nuff ber of people to be seen has rem31red constant there has been a signific3nl reduction In lunding The conlrael will be recommissioned In tho financial year 2021122 Page 8
BRENT CITIZENS ADVICE BUREAUX Tru3tees' Report for tho Year Ended 31 March 2021 4olllLEliher Frtyo L•4al Adlll£th Th15 proiecl, now ID 115 20th year. continue5 to be generDU51y 5UPPOrted by Clyde & Co LLP. This International law firm ha5 been fundin9 a coordinator lo SÈNI-É our Honorary Leg31 Advice IHLAI sessions since Ipe prJiÈci siartÈd In December 2001 and we are Indebtod to Ihem for Ineir ¢onlinuod supprirt of the project. Oui Virtual HLA EmplDytnenl Advice Clinic continuès lo thrive, an4 cliEn15 are advised by lawyer5 from Clyde & Co via Skype. Thi8 model ol dElivery nas provÈn lo be essential during thE pandewic and attempts arÈ being made to retruil more volunteers lo the seNItÈ Hejp to CJ4lm This proie¢i has been funded the DWP since April 2019 and Is designed lo en8urÈ that pÈople who claim time 2nd ensur8 thai paym8nl Is basèd on accurate. up to dais Inforrnaiion. We h81p pÉople lo comp18t8 the form, which can be daunting lor those who are not familiar with 18chnology, as everything now has 10 be done online, and support IheTn with the claim up to the date of their fir51 p3yment. This puls CIliz8n8 Advice offices in a strong position to become lamiliar with the pitfalls of the clairn proces5 and to challenge Cèntr81 Gov&iniMent to address and Improve them EuEQll¥uA[Qo S*ttlofftonLSupttort CAe ioingd five local Citizens Advicè offices In north London to provide lelp to vulnerable EU Citizen5 Vlno wish lo settle In the UK. Again appli¢aiions must be made online and clients re¢ei¥e support vvith this. Thè project 1$ led by Citizens Advice Barnel and fund8d by th6 Home Oftice Funding was éxi&nded to June 2021 whan Ihe EUSS scheme 8nded. Wlndru9h CAB successfully 5UPPOrted several clients who have been affécted by the government's mishandling of their slalu5 In the UK. The project was funiJ&d by the Home Office aiid brokered by Citizens Advi¢e This has been a particularly challenging experience for both clients and the adviser working on the pro-&ct a$ they relived the Iniuslice5 01 their experiences in order lo make their cl8ims Oulrea¢h 8Èr¥ices There has b&en a further extension of tris contract to March 2022, but funding has been reduced yet again by a further 10 Its. Tbe approach adopted at Ihe c8nlres. Ivhere parents ol chilrjren under the age of 5 are seen and appointments for complex cases are made at our Willesden office continues, although appointments are given lor parent5 to be advised via the telephone CAB worked with the Centre$ in the design of the new Family Hubs ol which the are 8 In the borough. JrLB0yALC1rOfoLmjDtdLIQ4L Pond INard. Pili& Ward and Slioie Ward at Park Royal Mental Health Centre in Breiii are aaull Inpali&nl wards providing a safe and Iherapeulic Fjiviropment Iof peoplg with acLJte mental health problems CAB has been funded to provide an advice Eervic.e for Ihpir inpatient5 since 2004 and work corlinues supporting them priTnarily with 'Nelfare benelils, hou51ng and debt Thatters. A significant relaliDnshiD ivith the Trust has built up over".he years 3ncI we hope lo extend Ihis Into th8 lulure. Page 9
BRENT CITIZENS ADVICE BUREAUX TfUSt&es' Report for the Year Ended 31 March 2021 3.4 Collaborative work Working With colleagues from local agencie5 18 now an established part of our tullure There are Inherent ch311enges. for exa(nple. some agencies 5pecialise In certain service8 lor a particular calggory of clients bul over811, we believe thal by collaborating with other organisaiions we offer clients joined up services, and reduce the Iisk ol failed relerials. delays and confusion for cliÈnls who may 31ready be desperate for help. 3.S med1a.and.p.fomoQnll Y¢otK CAB Is an avid usèr ol Twittof. enabling us lo reach new and &xisling clients. comrnunity groups, voluntary organisations, ¢ouncillor$ and MP$ and the wid8r public Our web511e enables re51dents wilh a¢tes8 to t& Inlernel lo ob121n Inlorm8lion about policy and legislative chang85 of gengial ifflportance, as W811 as those that may aff8cl th8ir 6ntillem8nl to ben&fils. This aspect has been partiGJlarly useful during Ihe COVID Wle will continu& to demonstrate to funders, opinion ftrrmers and policy m8k8rs the value of our work by presentlng 5tat151ical outcotnes that show the Impaci of our v#ork. Our staff is our greatest resourc8. and Ineir dgveloprnenl Is vital lo aIntaiN a qu21ity servic6 lo clien15 Staff enhance their ski115 by attending remolEly training sessions, regular team bri&ling8 3nd supervision 5e5sions during which they contribute lo the prDce5s of reviewing Ferformance and raising slancl8id5. ThÈ staff team regularly meet remoi&ly 10 review Ineir work, lo discuss pro9res5 and lu scruiinise practice lo ensure consistency and &fficiency In the delivery of advi There have been changes during the year lo locus on service delivery and during 2021, there will be a re51ruciure of the management of CAB to target reflect staff role changes and target delivery. Volunteers have a vitsl and Incregsingly Important rol8 111 service delivery. The Trustee B03r4 eonsisls ol volunteers who bring a 'ange ol skills and experience to the serwice. Their ¢ommitmenl and contribution Is 3 great asset We would like to express parti¢ulor thanks to Ashok Shah a volunteer for 34 year5, 13tterly as Finance Officer. who Is retiring in 2021. His s8rvic8 Is reflected In th8 sound financial tn3nagemenl and control of CA Brent finances, leading lo the successful funding of the refurbishtnent. an(1 '.hat Ihe organizalion hava had to employ a paid replacement. Page 10
BRENT CITIZENS ADVICE BUREAUX Tru$tees' Report for the Year Ended 31 March 2021 4 FINANCIAL REVIEW In previous years we have reported on the chgllenges all voluntary sector agencies face In the ctsmpetition lor SLillLe funds. We completed thé second of the +1-year contract with L8 Brent on 31 March 2021 and are entering 8ri extra ye3r. The contract continues lo attraci $8vings of 5 /0 year on yèar which reflocls thg new norm Other fullders of our service are also responding similarly or a re-structuring their sÈrvices hilst the level and complexity of need DI Qui Service users Increases. Typic31 gran15 die offered w,'Ih a minimal window ol opportunity to apply, and on 8 short-term basis with many strings attached. CA8 has hatl lo accept the n8w way ol the world and has risèn lo the challengè whilst also gearing up lo advis c118nts on the lange Df available options. an¢J the congeouénce8 of oebt and low pay continued to lak8 a Set within the above context, we Devertheless report that during the year we Made Iinancial gains for our clients, including debt writeff5 benefit claims and 3ppeals of over £2 5 rTrillion 1115 appropriate agai lo pay tribul& 10 th8 teamwork, commitment and skill of our manag915, 3dvi59r5 and volunteer5 wno rnadg this succes5 POS51ble The Trustees have continued with Investm8nts In highgl Inl8r8St accounts pending the cornplelion ol office refurbishment. Under the Mernorandum and Articles ol Association the charity ha5 the power to invest or deposit funds in any13wful rnanner whilst having regard lo the suitability of Investments and the need for diveisificalion. The Tfustees have exarnined the charity's requirements and has establi5h&cl the level ol reseNes Ilhal is Ih05e funds that freely aalable) that th8 charity ought lo havg In light of Ihe niain risks lo the organisaiion The aim Is lo ensure that the Bureau retains reseThes equivaienl to three monihs ol operating expenditure to reflect Ihe Trustee5 legal fiduciary obligations on a going concern b5515. fDr example payment of redundancies or other Iiabililies.. or bridge the funding gaps behveen spending and receiving resources ftom fundefs. They are also held lo cover possible emergencies. for example sustaining operations whilst in¢ome generaiiiig aLlivili*s are ui)der way. and lo meet the working capital requirements of the organizalion lo "oniinue the work ol the organizalion In the event of a significant reduction In funding. The levsl of unrestricted reservos ai 31st March 2021 were £474,12512020 13Bg.2801 which mèans tne bureau Is meeting Ils aims of holding three months, operating expenditure The Trusiegs tonlinue to employ th& fundraising slrale9y. concenlr31ing on raising SUMS that iequife a marginal staff C081. which has resulted In bringing our reseNes lo the current level. Page11
BRENT CITIZENS ADVICE BUREAUX Truste8s' Report for the Year Ended 31 March 2021 5. PLANS FOR THE FUTURE CA8 will continue '.he activities outlined above 5ubiecl lo salisfaclory funding arrangements. Tha major Concerns for the ¢arItY 'will be the continuing IinaDci31 uncertainty, competition from other 3gencies that ay seok lo ufidercut by sacrificing qLJality for quantity Ib8 impact on our cli&nls of th& pandemic. ano the planned ¢ul lo the £20 a week uplift lo Universal Credit, cuts lo grants lo local aulhorities by central government as a result ol the economic downiuin 3nd the rolling out ol competitive tendering for advi services. Against a backdrop of financial cutbacks and signific3nlly I&ss money available lo fund local voluntary groups from tr)dilional sources CAB tnanaged to sustain a reasonable Income level th15 year. The Trustee Board commends Ihis achievement. One ol the difficulties affecting all voluntary sector agencies Is that funding Is ,ypically short-terrn. This makes Strategic planning a $19nificanl challenge, especially when dem2nd ¢onlinues lo IncrE35e. as Is the experience of CAB. The next year will see the recommissioning of several ctinlratls currently held by CAB 3nd priority will be given to rnaking a successful bid The Trustees are cornmitted to sUppOng 8 quality 58rvic8 fof our clienls. on& th21 refl8cts a wide rang8 of need In the local community. The v31ug placed on the contribution ol CAB by service users is demon51rat8d In the high 1gvg1 of sali$faction re¢orded In our rEgul3r supJeys of their view5. Statomgnt ol Tru$t84#' R••pon•ibiliti•* Th8 trus186s (who are also the 4irEclors of Brent Citizen5 Advice Bureaux fvr the purposes of CDrnpany lawl are responsiblè for prgparing the Irusiee$' report an4 the financial slalemenl$ In a¢cordanGe with the United Kingaom Accounting S'.andards IUfiil@d Kingdom GenEr3lly Accepted Accounting PraGIIGel and applicable law and regulations. Company law rÈquirÈs the trus100$ to prepare finan¢1al $13'.emen15 for each Financial year. Under company law the tru8le8s musl not approve the fiTrancial 5t31ement5 unles3 they are $3115fiecl thai they give a true and fair view of the slate of affairs af the cnaritable company and of Ils incoming resources and application of resources. Including Ils Incoffle and expendilur8. lor that period. In proparing these financial stat8m8nts. the Iruslee5 are required to select suitab18 accounting policies and Èpply them Consistently, Otssee the melnods and prinLiples In the Cliarilies SORP.. mak& iudgèments and eslimales thal are reasonabl8 and prudent, slate whether applicable UK Accounliiig Slaiidards have been followed, subject lo any material departures disclosed and eyplained In th8 financi21 slal&mentS. 2nd prepare the financial 5talement5 on Ihe going concerll basis Ljnless il Is inappropriate to presume that the charitable company will ¢onlinue In busine5S. The Iruste8s are responsible lor keepiyg ad&quate accounting records Ihal are sufficient to show and explain the charit3Dle company s transactions and disclose with reasonaDle accuracy at any time the financisl ptssitioi) ol the charitable company ancj enable them lo ensure that the financial 51alemenls comply wilh the CoiTipanig5 Act 2?06 They are also ie5pon51ble lor saleguarding the assets of Iht3 ctraritdble compapy and hence for lakin9 rea50Trable steps for Ihe prevention ano detection of fraud other Page 12
BRENT CITIZENS ADVICE BUREAUX Trustees, Report for the Year Ended 31 March 2021 Dlsclosure of Snformatlon to auditor Each trust8& h35 taken sieps that they oughl lo have taken 8s a trustee in orcjer to fflake Ihems&lve5 aware of any relevant audit Information and lo establish that the charity's auditor Is aware of that Information The Irusiees confirm that there 15 no relevani Information that th&y know of and of which they know the auditor 18 unawafe. Reappointment of auditor Brebnerg will be pioposed for re-appointtnent In 3¢Gordance with Section 485 of the Companie5 Act 2006 In pr8paring this report. the truslEÈS have taken advantage ol th8 small companiey 8x8mplions provid&d by section 415A of the CornpaniÈs Act 2008 Thg annual repDrt was approved by the trustee5 of the charity trn ?4)Zi and signed on Its behalf by. id Askwilh Chairman and Tru81ee Amanded accounts These accounts replace a pieviously filed Set ol accounts for the finan¢ig1 year ended 31 March 2021. due lo the previously filed sel of 3ccounls not being In acLordance wilh UK GAAP ss reslricled funds were Incorrectly slated. As a resull of this amgndrnent an amoiinl has bèen reclassified from restricted lo unie51ricted funds. These amended accounts are now Ihe stalulory account5 for the charity for thB financial year ended 31 March 2021. They have been prepared as al 29 September 2021 and not at the dale of the revision. and accordingly do not deal with events between those dales. Page 13
BRENT CITIZENS ADVICE BUREAUX Indopendent Auditor's Report to the Members of Brent Citizens Advice Bureaux Opinion We hav8 audil&d the revised fin8n¢121 slat?menls of 61 Citizens Advi Bureaux Ilhe 'charily'l for the year ended 31 March 2021. which comprise the StatÈment of Financial Activities, BalantÈ SheÈl, Slat&menl of Cash Flows, and Notes lo the Financial Sialemenls, including a summary ol significant 3ccouDling policies The financial reporting fr3m2work thai has been applied In their preparation Is UnitÈd Kingdllm Accounting Standards. comprising Charities SORP . FRS 102 'The Financisl Reporiing Standard applicable 111 the UK and Republic of Ireland, and applicable law IUr,i'.ed Kingdom Generally Accepted Accounting Practi). In our opinion the revised Iinantial sl2lÉments. give 8 true 3nd fair view of the stale of Ihe charity's affairs 2s at 31 March 2021 and of ils incoming resources 3nd application of resource5, Including It5 Income and expènditure. for the year then ended, have be8n properly prèpared In ac¢oroan¢e with United Kingdorn Generally Accepted Accounting Practice, and have been prepared In accordance with the requiremen15 01 the Companies Act 2008. fa,led 10 comply wilh the requirements of the Compan3 Act 2006 In lye rèspects .den'.Ilied by the Basis for opinioTh We conducted our audit in 3ccoidanc8 with Inlern21ional S12ndards on Auditing IUKI IISAS IUKII and applicable law. Our respon51bililies under those standard5 are further described In the Auditor's responsibilitie$ for the audit of the financial statements section of our report. We are Independent ol the charily in accordancè with Ihe Ethical requirements that are relevant lo our audit of the financial Statements In the UK. Including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities In accordance w,tY I.eSe requirem8nls We b81ieve that the auuii evidenco we havo obtsined Is suffi¢ignl and appropriate lo provide a basis for our opinion Conclu$ion$ relating to going concern In audiling the financial statement5. we have concluded Ilal th8 Iruslees use of the going Concem basis of accounting In the preparation of Èhe linan¢iai statements s appropriate Based on the work we have performed, have not Identified any Tnaterial uncertainties relating to event5 as a going concern for a period ol al16asl twelv8 mofjlhs from when the original Iinancial sialÉinenls wero aulhorised for Issue. Our re500nSIDiliti&s and the re8pon8ibililies of the Iru$tees with respect to going concern 3re described In Ibe relevant sections ol this report other Inlormatlon rhe Irusleeg are responsible for Ihe olher Infortnalion. Th8 other Inforrllalion comprises th8 Inforrnation Included in the annual r8por¢ other ltr.an the financial 51alemert5 and our auditor 5 'eport Ihereon Our opinion on Ihe financ131 $131emenis does not Cover Ihe other Information ar.d except lo the extent othetwise explicitly 51aled In oar report we do not expre95 any fortn ol 35sur3nce ccnclusion Ihereon. Page 14
BRENT CITIZENS ADVICE BUREAUX Independent Auditor's Report to the Mombers of Brent Citizens Advice Bureaux In coiiiieclion with our audit Df the financial sialemenls, our re5PQnsibilily is to read the other Information 3nd, In doing SL>, ¢onsid8r whether the other Inforrnation Is matorially Inconsistent with the fin3n¢121 slatÈment5 or our knowledge obtained In the audit or otherwise appears to be materially fflis51aled. If we Identify such material InconsislenciÈs or appar8nt material misslatemenis, we arg required to determine whether there Is a mal6rial misst3ternent In Ihe financial slaiemenls or a material rn15slalement of thÈ other Information. If, bs8ed on the work we have perfortned. we coiiclude tnat there is a tnalerial misstatement ol this ather Infortnalion w8 are required to report that faci. We h3ve iolhing lo report In this regard Opinion on other rnatters pre8cribed by th¢ Companies Act 2006 ln our opinion, based on the work undert3k&n in th8 course of the audit. th& Information given In the Trustees, Report for the financial year for which Ihe f.'nan¢i21 slat&menls ar8 prepared Is consislgnt with tho fiiianci21 stalernen15, the Trustees. Report ha$ been prepared in aGcordanc8 with 3pplicable legal requirement5 Matters on which we are required to rèport by excepts'on In the light Dt our knowledge and understanding of the company and Its environment abiained In the course of the audit, we have not Idoniified material misslaleThenls In th8 Truslee5' Report. We have nothing to report In respect of thp following matters where thè Companies Act 2006 requires tD reoort lo you if. In our opinion adequate accounting records have not been kept, or returns adequala lor Dur audit have not been received from branches not Vlsiled by us. or the financial sialements are not In 8greernent with the accounting rgcordg and returns.. or certain disclosures of trustees refnuneraiion specified by law are not made., or we have not receivecl all the Information and explanations we require for our auLlit. th& trustee5 were not entitled to prepare the financial statement8 In accordance with the sm311 companies regime, and take 8dvanlage of the small conpanies èxemptions in preparing the directors. report. and from the requirement lo prepar8 a stralegic report Responslbilitles of tru$tÈe8 A5 explained more fully in the S131ement of Responsibilities 15el out on page 121. th2 Iru51ee8 ar8 respon51ble for the preparation ol the financi31 statements and for being satisFied Iliat they give a true and fair view and for such Internal control as the trustees d818rmine 15 ne¢es$3ry to enab th8 preparation ol financial sl3tetnenls that are free frorn rnalerial misstatement, whether due to Ir8ud or error In preparing the financial 5talemopls. te trustees are rpsponsible for as5essillg the charity s ability to continue as a going concern, di8cIDSing, as applicable. matters related lo going con¢ern and using the going Lonc&rn bas15 Of accounling unlpss the Iruslees èither Inlend to Iiquidaie Ihe charity or ID ce35e opor21ions, or have no realistic allernalive but 10 do so. P2ge15
BRENT CITIZENS ADVICE BUREAUX Independènt Auditor's Report to the Members of Brent Citizens Advice Bureaux Auditor's responsibiliti85 for the audit of the flnanclal statefflents Our objectives are to obtain re8sonable 2ssur2n¢e about whether the fipanci8151atemenl8 as 3 whole a Iree Irom material misslalement, whether due lo fraud or error, and to Issue an auditor's report th81 Includes our Dpinion. Reasonable assurance is a high lgvel of assurance, bul Is not a guarantee that an audit conducl8d In accordance with ISAS IUKI will always delect a walerial miss181emenl when il exists. Misslalemenls tan ar'se from fraLd or error and are considered material If. Individually Of In th& aggregate, they could reasonably be exppcled lo Influ8nce the &conomi¢ de¢isions of user5 taken on the basis of these financial slalements. Irrpgularilie5. Including fraud, are In%tances of non-compliafjce with laws and regulation5. We desig prtrcedures In line with our r8sponsibililies, ouilined above lo del&ct rllat8rial misslateillenls In respect of Irregularities, Including fraud. The exi&nt to which our procedure5 3re capaole ol delecliDg rregUlaritIes. Including fraud Is detailed below- Based on our unoerstanding of the Charity and the sector in which il operatès, WÈ determined that the i?rinLipal risks non-compliance with law5 and re9ulatiofjs related lo th& reporiing frarnÈwork IFRS 102. Companies Act 200S and the CharilioÈ SORP 20191, health and safely legislation and data proie¢tion legislation These risk5 were cominunicaled lo our audit team and we r8main&d al&rt lo any Indic3tions ol non-compliance throughout our audit We understood how the Charity Is complying with relevant gislatIon by making enquiries ol fftanagernent and conducting a ieview of baard minLles. WÈ 2150 considered the results of our audit procedures and lo what extent these ¢orroDorate this und&rslanding and as5e5sed the su5ceplibility ol the Charity's financial statements lo material rry155talemenl. This included considoraiion of how fraud rnight occur evalijalion of rnanagement's inceniivFs and opportunities for fraudulent manipulation of the financial slateTnents We designed our auojit procedures lo Identify any non-compliance with laws and gUlations. Such procedures Included, but WFJre not limited to, Inspection of 3ny regulatory or legal COfrespondencÈ, Inspection ol grant docuTnentalion an(J the conditions contained therein, challenging as5bmPtions and judgements rnade by managemonl, identifying and lesling iourn21 entr'e5 wilh a focus on large or unusual tran5acrioTrs as o5elermined based on our undersianoling ol the business,. and IdÉniifying antj assessing the effectiveness of controls In place lo prevent 3nd detect fratjd. As part of an audit In accordance wilh ISAS IUKI, we exera8e professional judgement and maint8in professional sc8Pticisrr. throughout th9 audit. We also.. Identify and assess Ihe risks of malèrial Inissiaietnent of the financial stalemenls, wheik.er clue lo fraud or erior, design and perform audit proce4urcs responsive to Ih05e risks, and obiain 31Jdil evid&nce Iat is Suffieienl and apprcpriate lo piovide a oasis for our opinion. The risk of not detecling a material misslalemeni resulti from frauj Is higher than lor one resulting frorn error as fraud may involv8 collusion, forgery, '.nlenlional omission5, ffjisrepresenlalions or tho override of Internal control Ob131n an undEf513nding of Internal control relevant to the aijdil In crder to (Jesign audit procedures that are appropriate In the cir¢urnstance5. bul not lor the purpose of exprgssing an opinion on thè effectiven&ss of the charity s Internal conl".ol. Evaluatè the appropriateness of accounting policies used and tne reasonaJlen&8s of a¢¢ounting eslimale$ and related disclosures mado by the trustees. Page 16
BRENT CITIZENS ADVICE BUREAUX Independent Auditor's Report to the Members of Brent Citizens Advice Bureaux Conclude on the appropriateness of the trustees use of the going concern basis of accounting and, based on the audit evidence obtained. whether a material nrtaInty exists related lo events or ndilions that may cast significant doubl on the charity's ability to continue as a going concern. If we nclude that a material uncertainly exists. we are required lo draw attention in our auditor's report lo the related disclosures in the finanaal statements or. if such disclosures are inadequate. to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and conlenl of the financial stslemenls, including the disclosures, and whether the financial slalements represent the underfying transactions and events In a manner that achieves fair presentation. We communicate with those Charged with governance regarding, among other matters, the planned scope and liming of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use ofour report This report is made solely lo the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stsle to the charity's trustees those matters we are required lo slate to them in an auditor's report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and ils trustees as a body, for our audit work, for this report. or for the opinions we have formed. Darren Bond (Senior Slalutory Audilorl For and on behalf of Brebners, Ststulory Auditor 130 Shaftesbury Avenue London W1D5AR Date.. 14 December 2021 Page 17
BRENT CITIZENS ADVICE BUREAUX Statement of Financial Activities for the Year Ended 31 March 2021 Ilncluding Intomg and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrlct&d Designated funds Funds Restricted fund8 Total 2021 Year ended 31 March 2021 Noto Incorne and Endowmonts Irom.. Lo¢al Authority Grant Gran15 & CDnlracls Donalioris 502.255 502.255 713.905 502 1.340 713.905 502 1.340 ".8,540 Inv88lm8nt Incom6 Other Income Total InCDrn8 Expendilure on.. 522.637 713.905 1.236.542 437.792 717.583 1.155.375 Total e¥penditure 437.7921 717,583 11,155,375 Nei inGornellexpenditurel B4,845 3,678 Net mov&meTht in funds 84,845 13.6781 81.167 Reconciliation of funds Total fund5 biought fotward 328,548 60.732 211 562 600,842 Total funds f3Trigfl forward 413,393 60,732 207,B84 682,009 The notes on pages 22 to 40 lom) an Integral part of these financial sl&lemenls Page 18
BRENT CITIZENS ADVICE BUREAUX Statement of Financial Activities for the Year Ended 31 March 2021 Ilncluding Incomg and Expenditure Account and Statement of Total Recognised Gains and Losses) Comparative Statement of Flnancial Actlvitie5 for tho Year Ended 31 March 2020 Unre$tri¢tod Designated fund$ Funds Rostrlctod funds Total 2020 Year ènded 31 March 2020 Income and Endowments Irom= Local Authority Grant Grants & Conir3Ct5 Donations Inv8Strn8nt income Noto 514,403 7284 63 3,453 514,403 808,013 63 3,453 800,729 Total In¢ome Expenditur8 On.. 525,203 800.729 1,325.932 402,133 41.258 1663.T90 1.107.191 Tot31 exponditure 402,133 41.288 863,790 Not Incomellexpendlturel 123,070 41,268 136939 218,741 Net movemènt in fund8 123,070 141,2681 136,939 218,741 Reconcili3titsn ol tunds Tolsl lunds brought forward 205,478 102 000 74.623 382,101 Total funds c¥rrl¢d forward 19 328,548 211,$62 600,842 All of the tharity's activitie5 derive from continuing operations during the above two penoés. The funds bre3kdown for 2020 Is shown In note 19. All recognised gains and loss88 are includ8d In the Statement of Financial Aclivilies. The notes on pa9es 22 10 40 form an integr81 part of these financial stalÈmenls Page 19
BRENT CITIZENS ADVICE BUREAUX IRegistration number.. 030918351 Balance Sheet as at 31 March 2021 2021 2020 Noto Fixed a68ets Tangible assets 13 271.892 140.988 Current as88t8 Debtors Cash al bank and In hand 14 216.477 573.090 104,908 749.832 789,567 854 740 Ci8diiof8'. Arnount8 falling due withln ono year Net Cufronl a$$ei$ 1167 6671 1221.414 621,900 633,326 rotal asset¥ le55 current liabilitios 893,792 774,314 ProvlBlon8 17 1211 7831 1173,4721 Not assels 682,009 600,842 Funds of the charlty.. Restrictgd Incofflo funds Reslricleo lunds 207.884 211.562 Unrg$tTl£ted income funds Unreslricled funds Designate4 Funds 413393 60.732 328.548 60.732 Total un¥eslrict8d funds 474 125 389.280 Total funds 19 682 009 600,842 The Financial Statements have been prèpared In accordance wilh the provisions applicable to Small companies ar.eordins to Part 15 of the Conipariies Acl 2006. financial statements on page$ 18 10 4Q were approved by the Irusle8s. an4 aulhorised for Issue on .'4.v U arid signèd on their b&hall by.. skwith ChairTnan and Trustee The notes on pgges 22 to 4D form an integral part of these financial statement3. Pago 20
BRENT CITIZENS ADVICE BUREAUX statement of Cash Flows for tha Year Ended 31 March 2021 2021 2020 Noto Cash flows from opergting activities Net cash Income 81,167 218.741 Adlu$tments to cash flows trom nonwcash items Depreciation Inve51menl Income 94.727 1,340 8.000 13.453 174,554 223.288 Worklng capital adlustrnents Iln¢reaselldecre8se In debtors ID8crease jIinCaSe In Creditors Charyedlcre4iled to SOFA Net cash flows from operating actlvitie5 78.120 91457 14.629 153,7471 388 236 Ca8h flow5 Irom invèsting activit185 Interest receivable and similai Income Purchase of tangible fixed a88els 1,340 225631 3,453 136.3451 Net cash flows from Invosting activities 1224.291 132,8921 Not Idocreasellin¢roa$• In cash and ca8h equivalents 1176,7421 255,344 Cash and cash equivalents al l April 749,832 494.488 Cash and cash equlvalents at 31 March 573 090 749,832 All of the cash flow5 are derived from continuing operations during Ihe above periods. The Dotes on pages 22 to 40 form an Integral part of these financ1al 8t2lement$ Pag& 21
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 March 2021 1 CHARITY STATUS The charity Is a company limited by guarantee, Incorporated In England and Wales, and consequently doès not have share capital Each ol the Iruslees Is Iiat>le to contribute an amouiil not èxtÈ&ding £1 towards the as5els of Ihe ch3rily In Ihe event of liquidation The ch2rily's registration number Is 1049632 and Ils company registration number Is 03091835. The address of Ils registered ottice is. 270-272 High Road NW102EY 2 ACCOUNTING POLICIES Summary of significant accounting polltiÈs and kgy accounting estimates These accounts replace a previously filed sel of accounls for Ihe financial year ended 31 March 2021. due to the previously filed Sel of accounts not being In ac¢ordan¢e wiltt UK GAAP as reslricled funds were Incorrectly staled As a result Df Iliis artieiidtnenl an amount has been reclassified from restricted to unrestricted funcjs. These amended accounts 3re rtow the statutory accounts for the eh3rity for the year ended 31 M3ich 2021 The principal a¢¢ounling policies applied In the preparation of the58 financial siatemenls are set out below. Thgse policies have Lieen consisleniiy applied lo all the yeats presented, unles5 olheN¢ise stated. Statement of compliance The financial slbtements have been prepared In a¢¢Ordan with Accounting and Reporting by Charities siatÈmÈnl ol Recomrnended Piactice applicable lo chariti&s prep3ring their accounls In accordsnce with th8 Financial Reporting Standsrd applicable In the UK and Republic of Ireland IFRS 1021 (effective 1 Janu8ry 20191- Ichaiilies SORP ',FRS 10211 te Financial Reporting Standard applicabl& In the UK and Republic of Ireland fFRS 1021. Théy also comply wilh the Companies Act 2006 and Chari11es Act 2011. Ba515 of preparation Brent Citizens Advice Bureaux m&e15 +he dèfinition of a public benefit entity under FRS 102. Assets ancl relevant accounting policy no'.es The charity has adapted the Companiès Act formats to reflèct the sp&cial The financial sl3temeThls are presented in $terling which is '.he functional currency of the charity. Amounts wilhin the fifiancial Statements are rounded lo the n8arEst £1. Paga 22
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 March 2021 Going con¢&rn The charity is dependent on the continued support of funder5 The Iruslees believe that the charily will contin& lo ieceive support and accordingly consider Ihal Il Is appropriate lo prepare Iinancial 8ialemenls on a going concern basis If funding was cul the tr518 believe that the charity's activitlES, and consequently cost5. could oe reduced accordingly, and wilh the current level of unre51ricied funds they believe that th charity could Ccnlinue In operation al 3 lower level of activity for the foresÈeable future. Ihe financi81 slalemenls do not include Ihp adiuslmeTriils Ih8t would result If the charity ur13blé lo continue as a 90ing concern. The COVID.19 p3nQemic and 2ssocialed lockdown ha5 affected the way In which Ihe charity delivers 115 $ervicf 8. Man3gement ha5 lormu181ed an action plan tts $leer the charity through this Deriod and believes that the chafily's re¢¢Tlt experience of providin9 2 telephone Service mean5 that the charity Is well-positioned to deliver a rernote sep<ice. In preparing tha 2ccoun15. the trustees have therefore adoFled the going Concern basis. The principal accountin9 policies adopted in the preparation of the financi31 slalements are sel Oui below Incorne Donations and leg3C18s Income received by way ol donations and gr3nts Is re¢ognised when the charity is leg311y enlilled to the income, certain of receipt and the amount can be qu2nlifi8d with sufficient reliabilty Incom8 15 recognised when Ihe charity has enlillemenl lo the lunds. any performance conditions attached to the Items of Income have been wet. It 15 proD3bl& that the Income will be received and the 3mouni can be measured reliably. Income 15 dèferred only when the tharity has lo fulfil conditions or the Income relates lo future periods. Investm8nl Income arise8 from Irterest bearing bank a¢counls 2nd Is recognised on a receivable basis. Funds Unre51rictÈd funds comprise 3ccumu131ed surpluses and deficits on general fuiids which are available for use ai th8 discr&lion cf the Irusteès, In furtherance of the gÈnÈral charitable obieclives. Restricted funds are subjeel to specific restricted condilions irnposed by th8 donors. Investsnent Income All the Investment Incotne 3rises from an Inlere5t-bearing deposit aecounl Expenditure All expenditiire is 2CCDunt8d ',01 on an accruals b2S15 and has been ¢lassified under heading5 that aggreg8le all costs related lo the category. Expenditure Is recogTrised where there ,8 a legal or conslruc'.Ive obligalion lo make paym&nls lo Ihird pa¢.iÈs, It 15 probable th31 the sèlllemeni will be required and the amount of th8 obligation c3n bé mÈ2sured r81iably. All oxpondiluro is caiegorised as axpendilure o haritable acliwil.e5 Include3 governance costs and 5UPPOrt ¢o$t$. Governance cosls nclude those Incuried In the governance of the charity and ils assets and are primarily associal&d with conslitulinnal and staiulory roquiremenls. Page 23
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 March 2021 Charltable actlvltle$ Charilable expenditu comprises those c0515 incurred by the charity In the dolivery of Ils a¢tivitie5 and services for Ils oeneficiaries 51 Includes bcilh c051s that can be alloealed direciSy to such a¢ii¥ilies and those cosls of an indire¢t naluro necessary to 5UPPOrt them. Deprociatlon and amortisatlon Depreciation is proviood on tangible fixed assets other Ilan as5els under construction, so 2$ to write off the cost or valuation, les8 any &stirnaled residual value, over their expected useful economic life as follows. Asset cla8S Deproclatlon method and rate IT & Communication Equipment 25,/0 per annum 5traighl line Leasehold Improvernen15 25./0 per annum 51raight line Research and dgv&loprnent Research and devÈlopmenl expenditure Is written off as Incuried. Dgbtor$ Prepayments are valued al the amount prepaid net of any trade di5counls due. Accrued Income 8nd lax recDverdble 15 Included at the besl eglimale ol the amounts receivable al the balance sheet dale Tradg and other debtor8 are recogn15ed at the sgttlemgnl amount due. Cash and cash equlvalent Cash al bank ano cash In hand includes cash and short term highly liquid Investmen15 with a short maturity of three months or less frorn thg date of acquisition or opening of the deposit or similar account. Creditors Creditor5 are recognised wher8 the charity ha$ a present obligation resulting Irorn a past event Ihal will probably result In the transf8r of fuiids lo a Ihird party and Ihe amount oue to 59ttle the obligalion can be measured or e51ifflaled reliably. Creditors are normally iecogn15ed al their settlement amouni after allowing for any Ir2de discounts due. Operatlng leaB8 agreements Rentals payable under operaiing leases are Charged against Income on a straight line basis over Ihe lease iem) Penslon? Meinbers of slaff who ioineo* prior to 31 October 2000 w8r& eligible 10 join the Charity's defined benefit rnanaged by the Naticnal Association of CItlZEn5 Advice èure8ux after lh& completion ol a qualifying period of service The scheme Is a multi-&mployÈr pension Scheme and It is not possible to identify th& assets and Iiabililiès of the scherne which are attributable to 8reni Citizeng Advice Bureaux. In 3ccor¢ance with FRS 102 therefore, the 5cb.eTne 15 accouTrled far as a delineo contribution scheme Contributions lo lkne scheme arè cliarged lo the Slalernenl ol Financial Activities as they becorne payable In accoidance with the rules of th8 scheme. Page 24
BRENT CITIZENS ADVICE BUREAUX Notes to tha Financial Statements for the Year Ended 31 March 2021 Flnancl¥l instruments instrument5. Basic financial 1nStrurYent5 are Initially r8cognised at transaction value and 5ub5equenlly m8asured at Iheii settlernenl value Wllh the exception ol bank loans which are subsequently measured al arnort.lsed ¢)sl using the effective Interest method Fi%8d assets other than freehold land a recorded al cleprecialeé historical cost and all other assets and Iiabiliti&s are recorded at cost which is their lair value. 3 LOCAL AUTHORITY GRANT Unr8Strictsd fund8 Total 2021 Total 2020 London Borough of Brent.. GenÈral Advice grant 8renl Advice P3rtngrship Total Loc81 Authority Giants ReTrived Less Payment5 To Partners Nel Grant 330,780 171,475 502.255 97.090 400 1615 342.928 171475 514,403 134.000 380 403 4 GRANTS & CONTRACT5 Re8trlcted funds Total 2021 Totsl 2020 Clyde & Co Brent Housing Man8gemenl (Partllgrshipl ChiiJren's Cenlres P3rk Royal C8nlre for Mental Health 27.492 26217 128283 23 000 81 054 400 279.146 135,626 12.687 713905 2T,492 26,217 141,041 23,000 116,530 400 300,768 152,268 13,013 800,729 7,284 808.013 Winter WaTmlh Proieci Universal Support NCIL European Union Setllemenl Scheme Total Re51ri¢ied Grants & Contracts Other LJD.r&stricled TDtal Gran15 & Conlratls 713,905 Page 25
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Ststemonts for the Year Ended 31 March 2021 S DONATIONS Unrestrictsd funds Total 2021 Total 2020 Anonymous Don21ion5 502 63 502 83 6 INVESTMENT INCOME UnYe$tricted funds Total 2021 Totsl 2020 Interest receivable and similar Income, Int8rest rec8ivable Dn bank clep051t5 3,4S3 7 NET INCOMEIEXPENDITURE 2021 2020 This is stated after charginy.. Audit of the financial statements Depreeialion of tangibl& fixed assets Operating lease payments 7200 89,649 7,200 120427 8 TRUSTEES REMUNERATION AND EXPENSES No trustees, Tror any persons connected w,Ih Ihem. have received any rernuneration from the charity during Ihe year. No trustees hav8 r8C8IV8d any reimtjursed expens&s from the chanty during the year. Page 26
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 March 2021 9 STAFF COSTS The aggregate payroll cost5 were as follow 2021 2020 staff cost8 during the year wore: Wages 3pd salaries Social security ¢osts Pension costs 708,060 65.536 58,651 706.135 63,101 26,341 832 247 795 577 The rnonlhly averaga number ol persons (including senior managernenl teaml eTnplDyed by the ch8rity unng Ihe yèar eKpre55ed as full time equivalents wa5 a5 follows 2021 2020 No General Bureau Services Projects Support 29 29 No 8mployee earned In èxce8s of £60,000 during the year12020' no employ8&1. The charity ¢onsiders its key tllanagernent personnel lo comprise of one person, the Chief Execulive. During the year the total employment benefil was É53,57012020- £53.5701. 10 AUDITORS, REMUNERA TION 2021 2020 Audit of the fiiiancial staletnenls 7,200 11 TAXATION The charity 15 a registered charity 2nd as such 15 entitled to certain lax exemptions on Income and surpluses on trading activities carried on In furtherance of the eharily's primary obieclives. If these profits drid surpluses are applied solely lor charitable purposes Page 27
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 Mar¢h 2021 12 ANALYSIS OF EXPENDITURE Governance & Suppport Costs Current year Staff Cost5 Direct Costs 2021 Total Gen&ral Bureau Sefyic8s 320,159 512,.J88 812.247 108.257 9,376 78.788 88 144 Governance & Suppport Costs 437,792 717,583 1,155,375 Projects 1?6727 234,984 Prior year staff Costs Direct C03ts 2020 Total General Bur8au Services 223,230 143.183 35.740 402,133 663,790 Projects Designated Irefurbishmenll Totals 572,347 26,570 41 268 211,001 64,873 795,577 100,613 1 107 191 Support ¢ost analysls Staff travel cost 2021 2020 3.162 65D Printing, postage and Stationery Telephone and lax Computer expenses Office sundrie$ 1,591 9.777 4.854 5.870 7,483 10.892 528 3.333 Insurance 4,597 23,578 4.946 4.929 Rent and rates 28.6OLI Light and heat Water 5.991 300 236 Premises and equipment maintenante Cleaning Trainirg cost Reference material 7.043 5.647 843 2.235 283 682 2,367 2.194 M8mbership fees Payroll charges Bank charges Depreciation Total support costs 5,753 3.100 5.815 3.106 415 343 5.078 80.944 8000 93.377 Page 28
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 March 2021 Support cost analysis Total support costs brought forwaid Governance 2021 2020 80,944 93,377 Trustee Boèrd ÈxpensÈ8 36 7200 7200 Total governance Costs Total support and governance costs 7,200 88,144 100,613 13 TANGIBLE FIXED ASSETS IT& As$ets Under Communication$ Construction Leasohold Improvem¢nts Total Cost At 1 April 2020 Additions Reclassificatio 79,1T9 3.381 136.345 215524 225.631 222.250 136.345 136.345 At 31 Msrch 2021 82.560 358,595 441.155 D•pro¢latlon Al 1 April 2020 Charge for the year 74.536 5.078 74.536 94.727 89,649 At 31 March 2021 79.614 89.64g 169263 Net book value At 31 Mar¢h 2021 2.946 268,946 271,892 At 31 March 2020 136 345 140988 In the prior year, assets under conslruclion related lo the rtTrajor refurbishment of thè Charity's principal location. In the current y&ar this ¥vork was completed and the refurbished a55ets entered service. The a55ets under constiuelion have accordingly been deie¢ognised and reclassified viilh a new category of tangible a55el.. Leasehold Iwprovemenls. Depreciation has been charged on these Iletlls fiotn the dale on which they entered service. Page 29
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 March 2021 14 DEBTORS 2021 2020 Prepayments and 8¢crued income 216477 104908 2021 2020 Funds receive(J as agent Funds paid as ag&nl Balances held 97,090 197,0901 134,000 1134,0001 15 CASH AND CASH EauivALENTS 2021 2020 Cash at bank J73,090 74?,8J2 16 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 202Q Other laxalion and social security Other creditors Accruals 27 240 5.319 135.1Q8 19.140 25.720 17S.554 167 667 221 414 2021 2020 Deferred incomo D8ferred income at 1 April 2020 Amounts releas8d from previous perio4$ 113,4661 13.466 126,9331 13.467 Deferred 5ncome at yÈar end 13,466 Deferred Incoma compris8s funds received by the Chanty which relate to grants whose condition5 for recognition ar8 fully or partiallly unmet al the year end. Pag& 30
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for Iho Year Ended 31 March 2021 17 PROVISIONS Pengion ¢ontribution8 provision Dilapidatio prgvi$lon Total Al 1 April 2020 Incr&as& from fair value adjustments 85,472 38.311 88.000 173,472 38.311 Al 31 March 2021 123,783 88,000 211,783 The dilapidation provision ielales lo the Charity's obligation5 in respect ol the main office lease which Is due lo expire in 2034. There is currently no unc8rtainty regarding Ihe timing of the cash outflow. nor regarding any possible reimburspmenl. 18 ANALYSIS OF NET ASSETS BETWEEN FUNDS Tot81 fund8 at 31 March 2021 Unr¢$trlcted fund8 Gtneral Designated RÈstri¢ted fund5 Tangible fixed assets Net current a$$el$ Provisions 131.727 493,449 1211.783 140.165 67 719 211,8g2 621,900 211,7831 60.732 Total net 8$sels 413,393 60,732 207,884 682 009 Total funds at 31 March 2020 Unre$trl¢t¢d funds G&naial Dèslunated Restrlctèd fund8 Tangible fixed assets Net current assets Provisions 4.643 497,377 173.472 13fj.345 75,217 140.988 633.326 173472 60.732 Total net ass818 328.548 60,732 211 562 600 842 Page 31
BRENT CITIZENS ADVICE BUREAUX Notes to tho Financial Statgmgnts for the Year Ended 31 March 2021 19 FUNDS Balance at 1 April 2020 Incombng r8sources Resources expÉnded Balance at 31 March 2021 Currènt year Unr98trict8d funds Gen&ral Gen8ral'.und Desiqnated Repairs r&serve 328,548 522 637 1437,7921 413.393 60,732 60,732 Total unrestrict•d funds 389 280 522,637 437 792 474.125 Restricted funds Children'5 CentrES 5.712 fj.476 2.286 1,713 112681 128,283 81,054 279, 146 26217 27,492 1127,9941 187 51DI 1278.2951 26.8291 127 8771 6,001 20 3,137 Universal Support Brent Housing Management Clyde & Co Park Royal Centre for Mental Health NCIL European Union Sertletnenl Sch8me London & Quadrant WDP Winier Warmth Proj&ct Catalyst Housing Brent Caldlysl Hou51ng - Ealin9 8renl Welfare Reform Project BAS41L wpwp VSIF 11.6531 8.215 136.345 23,000 135,626 124 4871 1131,8061 6728 14D.165 12 687 112,6871 19681 968 5,293 8,687 167 2.354 145 1,128 524 5,4D2 17,B62 8.545 1 976 19681 968 5,595 8687 167 2.354 145 1,128 524 5,402 17.862 8.545 1.976 400 1981 Veolia ottter Genesis Community Housing 8DIG Total restricted fund$ 211,562 713905 1717.5831 207,B84 Totsl fund8 600 842 1,236.542 1,155,375 682.009 Page 32
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 March 2021 Balance at 31 March 2020 Balanco •t 1 April 2019 Incoming resource¥ R&sourceB expended Tran$fers Prior year Unrestrl¢t¢d fund$ General General Dosignafed Repairs reserve Tiaining Officer 205,478 525,203 1402.1331 328 548 72 000 30.000 141.2681 30 000 30,000 60,732 ln? 000 141,268 60.732 Total UntrICted funds 307 476 525 203 389,280 Restrlcted Children's Cenlres 4.294 9,185 141,041 116.530 300.768 1139,fj231 It19,2391 1298,2611 5,71? 6.476 2.286 Universal Support Bont Housing Managernent Clyde & Co 3.370 13.1081 26.217 27,492 127,8741 125,6521 11.2681 Park Royal Contra for Mental Health NCIL 7.837 23,000 152,268 122.6221 115,9231 8,215 136,345 EurDpean Union Settlement Schetne London & Quadrant WDP 13.013 113.D131 19681 968 6.476 8.687 167 19681 968 5,293 8,687 167 Winter Warmth Project Calalysl Housing Breni C31$lysi Housing Ealing Brent Welfare R8forrn Projèct BAS41L wpwp VSIF 400 11.5831 2,354 145 1,128 524 5,402 17,862 2.354 145 1,128 524 5.402 17,862 Veolia Olhei Genesis Comrnunily Housing 8,545 1,976 8.545 1,976 8DIG Total restricted funds 74.623 800.729 663.790 211.562 Total funds 382.101 1.325 932 1 107,191 600,842 Page 33
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 March 2021 Name of fund De5criptlon. nature and purpose of the fund Generalist advice to parents Wlth children aged 5 and under In ',he London Borough of Brent. The prov151Dn ol specialist debt advice to Brent resentS Children's Centres Helty 10 Claim prvie¢i supports Universal ¢19imants. up to the dale ol Iheir first payment, 10 receive their Univer581 Support 8ieiil Huuèii)y Parti)ership The provision of mon8y and debl advic8 to Brent Counc',I tenants and leaseholdÈr8 The provision of free honorary legal advi with the support of Clyde & Co Inlefnalional Law Firm. Wglfarg benefits and Wioney advice '.0 Inpaiienls of Park Royal Centie lor Mental Health. Refurbishm8nl of the Brent Cilizgns Advice Bureau office which Is Included within fixed 3$sels where the exp&n(JItLire is considered c3piial In nature. Assis12nce lor vulnerable EU nationals in the Borough ol Brent In 5UPPQrting applications for 18ave lo remain under the EU Settlement Schem8. Provision of support with p8rsonal budget to Universal Credit claimants Provision DI mon?y advice to L&Q tenants under their Pound Advi¢e Proi&cl. Provision of welfare benefits, Èmployment and hou51ng advice lo clients of Weslminster Dru9 Project. PrOls1on of financial suppport to those axperiencing Iu81 poverty through donations made by patrons of Ihe Tricycle Tbeaif8 and others. The provision ol woney advice lo Calalysi Housing Ipnanls and leaseholders living In Brent. The provision of rnoney advice to Catalyst Housing lenant5 and le38ebolders living In Ealing The prov1510n ol wellar& benefits 3nd debt advice ID Qrent residents directly attected by chaoges lo thÈ welfare benefits syst8m Thg provision of debt and 8rrployMenl sdvic8 10 people aged 1844 referred to the oTfice by Age UK er8nl In order lo promote 2nd maximise the Independence ol Brent's older and disabled PEopLe through high quality acressible advice and guidance Clyde & Co Park Royal Cenlre for M&ntal Health NeighbDurhood Community Inlrasiructure Le European Union Selllemenl Scheme Personal Budget Servi London & Quadrant IL&QI Wo$tminster Drug Prniecl IWDPI Wintèr Wamth Catalyst Housing Brent Latalyst Housing Ealing 8rent VVell8re Reforrn Project 8AS41L P2g8 34
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 March 2021 Name of lund De$¢ription, nature and purp059 of thg fund The provision of legal and wellara benefits advic8 10 residenls of the Sl Raph381's Eslale In addition lo 5UPPOrting Ihem lo manage their personal financ&s succ8ssfullly, as well as providing advic8 and to UP5killing those living In Brent who 3re directly affected by the rolllout of Universal Credit. Funding lo Improve the employability of local unefflploy8d residents through volunle6rin9. Funding to allow local residents to clear dom85tic water d&bls (ended in D8e&mber 20121. rhe provision of money and debt advice to Genesis Cotnmunily Housing tenants andl8aseh0erS (ended March 20131. Fun4ing to deliver 8dvice to disabled people and people with long-term limiting health problems wpwp Voluntary Sector Initiative Fund IVSIFI Veolia Genesis Community Housing Brent Disability Interim Gateway IBDIGI The designated unreslricied fund 'Repairs Reserve relates lo funds originalSy set aside lo cover ur)expecled expendituie aiising from the office reluibishmenl. The work has now been ¢ompleted and the Iruslees expect lo return these funds ID general unrestricted funds In the next financial year. Page 35
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 March 2021 20 PENSION AND OTHER SCHEMES Defined benefit pen5itsn *chemo8 The charity participate5 In the National Association of Gilizens Advice Bureaux Pen510n Jnd Assurance Plan 119911 wh ch Is a funded d&liiied benefit arfapg8rrÈnl The employers operate a dpfined benefit scheme In th8 UK This Is a sep2raie truslee-administerèd fund holding the pension 5cherne assets to meet long-lerm pension Iiabililies. The major assumpiion8 used by the acruary and delai15 ?f thÈ 8cherne are In tho scheolLilps annp¥Ad tn t4. ar.r.niinlS Th? schedules do not form part ol the audited financial statements Th2 annual contributions by 8rÈnl Citizens Advice Bureaux is £9.000. Citizens Advic8 I'thg Principal Employrsr'l op8rate5 3 defined b8nefit schome I'lhe P13n'l In the UK which rovides both pension5 In retirÈment and death benefits lo membeis Pension b8nef1t5 are related 10 the members, final salaries at ielirement and their length ol sérvice 31 the date they reiirefj 01 left pÈnsior)able 5eNi¢e The Plan closed lo lulure accrual on 31 March 2008. The Plan al80 contains some money purchase AVCS and Pfolecled rights funds. which are not ..ncluded In Èlese disclosures. In 8ccordanGe with the schedule of conlribulions in force over th8 2021122 accttunting year. the contributions to the Plan lor the year ending 31 March 2022 are expected lo be E2 579.000. which In¢lu4os £2,279,000 towards the deficit aid £300.000 a5 an allowancè ltsr adminislralian expense5 and all scheme levies The Plan Is a registered scbeme under UK legislation. The Plan is subject lo the 5cherne funding requiromenls outlined In UK legislaiion The Plan Is govorned by thg Plan'$ Trust Dee<J ap.d Rulès d2te(14 April 2011 The Trustee Is responsible for the oper21ion 2nd the governan¢e of the Plan. Intluding making decisions regardipg Ilie Plan's funding Inveslmenl strategy lallhaugh Ihey ar8 required lo consult the Principal Employerl. A full actuarial valuation of thè Pl8n was carried out as al 31 March 2021 by a qualified Independent a¢tuary. based upon membÈrship data as at 31 March 2019. allowing for assumed tnembership movem&nls over the periGd from this date, as well 3$ any actual transfer5 oul or trivial commvlaiioi)s over thè period. The mosl recent formal actuarial valuation ol the Plan was as at 31 Maich 2019 and rovea18d a funding defic11 of £68 501 000 In the recovery plan 8gr&ed following Ihe valuation the Prin¢ipal Employer and olhÈr parti¢ipaiing employers agrep.d lo pay deficit reduction conlribulions of £2.279.000 per annum with the view to eliminaiing th8 delicil by 31 M2rch 2037 Thè Iiabililie5 of the Plan ar8 Dased on the ¢urrenl v81ue of &xpec'.ed ben&fit P3ymÈnt cashflows 10 member5 of the Plan over the ne¥1 60 or moro years The average duration ol the Iiabililie5 IS approximately 16 ye8r8 The Plan Is exposed lo actuarial risks such as market Iinve51rnenll risk, Interest rate risk. inflation risk, currency risk and longevity risk. Pag& 36
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statemonts for the Year Ended 31 March 2021 The major assumptlons used by the actuary wertr (In nominal termsj a$ lollows.- Asat31 March 2021 A8at31 March 2020 Discount rate 2.10 2.40 330 2.8 2.80 2.QO Revaluation ol deferred pensions In exc&ss of GMP Pen510Tr In payment Increases of- CPI or 5'h p.a. If less CPI innation since relir&meni or 5Vo p.a. compound If loss CPI or 3¥D p.a. If less Commulalion of pen510n for cash al r8liremenl l /p of HMRC maximum) 2.80 2.80 2.00 2.80 2.50 1.90 75.00 75.00 Assumed Ilfe expectancies on retiremont at age 65 ar•.. Asat31 March 2021 A$at31 March 2020 Year$ Years Currènt UK pensioners al retirement age- rnale Cuffenl UK pen510ners al retirement age letnale Futur8 UK pÉnsiDners al retirement ag8 mal Future UK pensioners al ffttirement age- female 21 24 23 24 23 26 26 Page 37
BRENT CITIZENS ADVICE BUREAUX Notes to thg Financial Statements for the Year Ended 31 March 2021 Tlre assets in the Plan were.. Value at 31 March 2021 Value at 31 Mar¢h 2020 Multi asset funds Sliuctured Equity Cash 72.995,000 24,849.000 1 509 000 61 086,000 24 279.000 594 000 Fair Value of Plan a888t$ 99,353,000 85,959.000 The a¢al return on asset5 over the perlod was.. A$at31 March 2021 A¥at31 Mar¢h 2020 Return on schem8 as88ts 14,282 000 188,000 R¢¢on¢lllatlon of schem8 a55ets and liabilities to assets and liabilities recogn15ed 2021 2020 Present value of defined benefit obligation Fair value of schem8 asset5 (181.415,0001 1140,310,ocoI 99,353.000 85.9i9,000 DBfln¢d benoflt ponslon Scherne dèflclt 62 062.000 IS4.351.000 R8conciliation of op¢nin9 and closing balanc85 of tlje Present valu¢ ol the defined boneflt obllgatlon 2021 Present value 21 start of year Currer,t service cos1 140.310.000 652.000 3.322,OOD 21,568 000 14 437.OQOI Actua1131 gains and losses 8enelils paid Present Value al end of year 181.415,000 Pag& 38
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 March 2021 Reconciliarlon of openlng and closing balances of thÈ fair value of Plan assets 2021 Fair value at start of year Interest Income Relrn Dn plan assets, excluding arnounls Includ8d in inl8re$l Incomellexpensel Employer contributions 8enefils paid 85.959.000 2.052.000 12230000 3.549 000 14.437.OGOI Fair valu8 at and Df year 99.3S3 000 The pension scherne has not Invested In any ol the charity's own financial inslrurnenls or In properties or other a55els used by the charity. The amounts r•eognlsed In profit or loss Asat31 Maich AS at 31 March 2020 2021 SeNice cost- Including current and p351 Servi costs and Iiabililie$ SeNice cost- 2dministr2tive cost 652,000 1,270.000 1,922,000 866 000 Nel Interèst on the nel defined benefit liability Total oxp8ns0 1 366 000 2,232.000 Rem&a$urement of the net delined b8nÈllt lialjllity (a5setJ to b8 shown in DCI Asat31 M•r¢h 2021 A$ ot 31 March 2020 21,568.000 12,823,000) ,995.000 Return on asset5, excluding Interest Income Changes in the effect of the asset ceiling excluding Interest Income Total remeasurem8nt of th¢ net defined b8n8fit liability lasseti to be shown In OCI 112,230.0001 9,338 000 828,000 Pag8 39
BRENT CITIZENS ADVICE BUREAUX Notes to the Financial Statements for the Year Ended 31 March 2021 21 FINANCIAL COMMITMENTS Total lulure minimum lease payment5 under non<ancellabl8 operatln9 IaSeS are a5 follows.. 2021 2020 Land and bulldlng¥ Within one year 6gtwo$n ono and fivg y9&rs After fiv8 y8ars 28.600 114,400 215,382 28,600 114.400 ?.64,550 378 382 407 550 22 LIABILITY OF MEMBERS The Charitable Company is limited by guar8nlee and has no share capital. In the event of the Charity beTrg wound up, the liability in respect ol Ihe guaranlEe Is limited lo 10 £1 per member of the Charity during the Iitne they are a tnember, or one year Ihereatter. zs staled in the Memorandum and Articl85 of Association. There is no one controlling party. 23 COMMITMENTS Capital coffjmitmtnts The totsl amount of fin8ncial ¢ommilment8 not included in the Slatem8nl of Financial Position is £NIl12020 £19e.J881. 24 RELATED PARTY TRANSACTIONS There wers no r8laled party Iran58clions in lh8 year. Paga40