Company registration number: 03091835 Charity registration number: 1049632
BRENT CITIZENS ADVICE BUREAUX
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2023
BREBNERS
Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue
London W1D 5AR
BRENT CITIZENS ADVICE BUREAUX
Contents
| Trustees' Report | 1 to 13 |
|---|---|
| Independent Auditors' Report | 14 to 17 |
| Statement of Financial Activities | 18 to 19 |
| Balance Sheet | 20 |
| Statement of Cash Flows | 21 |
| Notes to the Financial Statements | 22 to 40 |
BRENT CITIZENS ADVICE BUREAUX
Trustees' Report for the Year Ended 31 March 2023
REFERENCE AND ADMINISTRATIVE DETAILS
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out on pages 18 and 19 and comply with the Companies Act and applicable law.
The Trustees' Report includes the Directors' Report as required by company law.
Charity Registration Number
1049632
Company Registration Number 03091835
The charity is incorporated in England and Wales. Chairperson Helen Glasson Frances Hutchinson Chief Executive Officer Raj Kapoor (appointed 01 July 2023)
Sharon Wright (appointed 01 July 2022; resigned 30 June 2023) Phil Jew (resigned 30 June 2022)
Trustees
David Askwith (ceased 22 August 2023) Helen Glasson Louisa Martin, Treasurer John Bash (ceased 4 October 2022) Mabel Sumner Linda Lam Robert Roscoe Mohammed Inham Hassen Frances Hutchinson
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BRENT CITIZENS ADVICE BUREAUX
Trustees' Report for the Year Ended 31 March 2023
Registered Office 270-272 High Road London NW10 2EY Bankers National Westminster Bank Plc Park Royal Branch 1 Abbey Road London NW10 7RA Auditor Brebners Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue London W1D 5AR
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BRENT CITIZENS ADVICE BUREAUX
Trustees' Report for the Year Ended 31 March 2023
1. STRUCTURE, GOVERNANCE AND MANAGEMENT
1.1 Governing Document
Brent Citizens Advice Bureaux is a company limited by guarantee governed by its Memorandum and Articles of Association dated December 2007. It is registered as a charity with the Charity Commission.
1.2 Appointment of Trustees
Until otherwise determined by the Bureau in General Meeting the number of Trustees shall not be neither less than nine nor more than twenty being either:
a) elected at the Annual General Meeting, and who shall hold office from the conclusion of that meeting b) nominated by a member organisation c) co-opted by the Trustee Board,
Provided that the total number of co-opted and nominated Trustees does not exceed one third of the total number of Trustees.
Each appointment of a co-opted or nominated Trustee shall be made at an ordinary meeting of the Trustee Board and shall take effect immediately unless the appointment is to fill a place which has not yet been vacated in which case the appointment shall run from the date when the post becomes vacant.
All elected Trustees shall retire from office at the third Annual General Meeting (AGM) following the AGM at which they were elected but may be re-elected.
All nominated or co-opted Trustees shall retire from office at the third AGM following the ordinary meeting of the Trustee Board at which they were appointed but may be re-appointed.
At the ordinary meeting of the Trustee Board immediately preceding the AGM, the Trustee Board shall (if applicable):
• review member organisations; and consider any application for representation on the Trustee Board from any member organisation;
• Any proposal from a Trustee to offer representation on the Trustee Board to any member organisation.
Any proposal from a Trustee to offer representation to a member organisation can be voted on. If this motion is passed by a majority of at least two-thirds of the Trustees present, the Trustee Board will decide how long the organisation can be represented for and invite it to nominate a representative.
As set out in the Articles of Association the Chair of the Board of Trustees is nominated and elected at the meeting immediately following the AGM. The Honorary Treasurer is similarly nominated and elected. The AGM is held each year in February. The Chair is permitted to serve for a total period of 6 years but is elected or re-elected at the AGM.
The Trustees seek to ensure that the needs of the community are appropriately reflected through the diversity of the body of Trustees.
To enhance the potential pool of the Trustees, the charity advertises vacancies and skills and experience required on the trustee board locally and nationally, seeking to identify people who would be interested in joining the board and using their experience to assist the charity. The charity also encourages former clients to join the board.
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BRENT CITIZENS ADVICE BUREAUX
Trustees' Report for the Year Ended 31 March 2023
In an effort to maintain a broad skill mix, Trustees are requested to provide a list of their skills (and update it each year) and in the event of particular skills being lost due to retirements, individuals are approached to offer themselves for election to the Trustees.
1.3 Induction and Training of Trustees
New Trustees undergo an orientation period to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the board and decision-making processes, the business plan and recent financial performance of the charity. Prior to joining the Board, they are invited to attend a board meeting and a sub-committee meeting. During the induction period they meet key employees and other Trustees if available.
Trustees are also invited to attend an induction training event provided by Citizens Advice to inform them about the role of and relationship with the national organisation. Trustees are encouraged to attend appropriate external training events where these would facilitate the undertaking of their role. Trustees are also encouraged to attend occasional staff meetings to familiarise themselves with the issues concerning the day-to-day activities of the organisation.
1.4 Organisation
The Trustees administer the charity. The Board meets 5 times a year, this can be a remote meeting, and there are sub-committees covering Finance, Audit and External Engagement; and Personnel, Health and Safety and Premises, which meet a minimum of 4 times a year, again this can be remotely.
1.5 Arrangements for Setting Pay and Remuneration of Key Management Personnel
Trustees discuss pay and remuneration at the Personnel, Health and Safety and Premises subcommittee and make recommendations to the full Board. The benchmarks used are from the national Citizens Advice report on Local Citizens Advice Salary Data, the last of which was issued in 2020. This enables Citizens Advice Brent to set salaries that are comparable to other local Citizens Advice offices.
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BRENT CITIZENS ADVICE BUREAUX
Trustees' Report for the Year Ended 31 March 2023
1.6 Risk Management
The Trustees pay due attention to risk management and review risks to the organisation at regular intervals. The Board has a risk management strategy which comprises:
• An quarterly review of the risks the charity may face;
• The establishment of systems and procedures to mitigate those risks identified in the plan;
• The implementation of procedures designed to minimise any potential impact on the charity should those risks materialise
The year ending 31 March 2023 saw the end of the two five-year contracts with London Borough of Brent. Originally due to end on 31 March 2022 the new tender process did not end until October 2022 with the decision made in December 2022. During this period the previous contract was rolled forward. Brent Citizens Advice was successful in winning this contract for a further 2 years, plus one, plus one.
The new contract is significantly different to the previous contract and, given that is makes up the majority of the funding, will require a radical restructure of the Bureau both in order to deliver the contract and to make the Bureau financially viable. The delay in the awarding the contract has delayed the implementation of the restructure to 2023/24.
With the ending of the pandemic work patterns for staff changed during 2022/2023 with a shift away from home working and telephone advice to more office- based contact and advice, while accommodating flexible working where appropriate. This also reflects the expectations of LB Brent.
The delay in the awarding of the contract affected the appointment of a new Chief Executive Officer. At the start of the year the post was covered by a consultant, with the intention to appoint permanently in summer 2022. As this did not happen the Consultant identified an internal candidate to act as interim Chief Executive Officer from July 2022. Following the awarding of the contract a recruitment consultant was appointed to facilitate the appointment of a permanent Chief Executive and this process was ongoing at the end of the financial year. A permanent Chief Executive was appointed after the year end.
The delay in awarding the contract also delayed the election of a new Chair of the Trustee Board, however in February 2023 a new joint chair was elected. I, David, the outgoing Chair, would like to thank all staff, Trustee Board Members (current and past) and partners for their support and patience over the past seven years and wish Frances and Helen good luck for the future.
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BRENT CITIZENS ADVICE BUREAUX
Trustees' Report for the Year Ended 31 March 2023
2. OBJECTIVES AND ACTIVITIES
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit and in particular to its supplementary public benefit guidance.
2.1 General objectives
The principal objective of the charity is:
“The promotion of any charitable purposes for the benefit of the community in London by the advancement of education, the protection of health and the relief of poverty, sickness and distress”.
The charity has the general aim of contributing to the quality of life of the 367,000 residents (ONS estimate) of the borough of Brent through the provision of free, independent, impartial and confidential advice.
Citizens Advice Brent (CAB) prides itself on being a dynamic, responsive organisation, providing high-quality advice and information for the full benefit of Brent residents.
Our advice covers the spectrum of issues facing contemporary society. Our interventions frequently have a significant impact on our clients' lives. Our aim always is to ensure our clients have a better understanding of their legal position and greater confidence to assert their rights appropriately in future. Fulfilling this aim has been tested to the full as national social, economic, and political change has impacted the borough. The Trustee Board acknowledges the inherent challenges, but to continue to provide a relevant service in the modern era, we must embrace change, adapt and be alert for fresh opportunities to sustain and develop the vital role we perform.
High demand levels for our service continue, whether delivered in-person, remotely by telephone or electronically. Notably, the protected delay with the LA commissioning of the CAB current contract impacted our ability to run a drop-in service during this year.
The Help to Claim project, which allows CAB to provide tailored advice and support to Brent residents on Universal Credit (UC), ended on 31/03/2022. As the previous year's report advised, Citizens Advice Hounslow (CAH) now provides the Help to Claim service to Brent residents by telephone and Webchat. Nonetheless, we continue to see a high demand for the service. Indeed, 10% of CAB enquires during this year are about UC, and thus we make referrals to CAH, where appropriate, to ensure that Brent residents that need this additional help receive it.
One of our tasks is to use anonymised clients' information and experiences to inform the central government of the consequence of legislative, economic and social change for Brent residents in the various categories of advice that we offer. We do this in different ways, including submitting social policy evidence forms and responding to Citizens Advice monthly Network Panel survey on their research and campaign agenda. CAB is also well-position to identify and highlight emerging issues affecting Brent residents and campaign for change. We also use our platform as the Advice and Advocacy thematic group lead in the borough to partner with other advice agencies and stakeholders to campaign for and promote change locally.
The challenge to CAB is maintaining a high-quality service at a time of change and high demand and when the competition for and pressure on funding for the voluntary sector continues to increase. We greatly appreciate the recognition given to our work by the London Borough of Brent since CAB's inception at its current location in 1981. Despite enormous pressure on its resources, the Council continues to support and encourage our work.
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Trustees' Report for the Year Ended 31 March 2023
Central to the organisation's work is its educational role, enabling clients to exercise better control over their lives by easily accessing the information they need and recruiting and training a team of local volunteers. As a result of the skills acquired by our volunteers, under a rigorous but supportive training programme led by our Training Officer, most volunteers who leave our service successfully obtain paid work in a range of different careers. CAB is proud to contribute to the local economy in this way, and LB Brent recognised this during the tendering process for the new contract.
2.2 Category of Enquiries and client base
As in previous years, the demand for advice on welfare benefits, debt, employment and Housing was high and accounted for 87% of all enquiries, up 7% from last year. Financial gains made for clients during the year were £3,714,681.00. The Help to Claim project, which ended in the previous financial year, accounted for the noticeable decrease in overall financial outcomes. However, we continue to see an increase in the average income gain per client.
The number of people from Black, Asian and minority ethnic backgrounds presenting at CAB rose from 51% last year to 59 % of all clients. White British and' white other' clients represented 41% of all clients seen. 46% of our clients were disabled or had a long-term limiting health problem - up from 36% in 2021-22 and 41% in 2020-2021. As in the previous year, 59% of our clients were women. The number of people aged 25 and over approaching CAB continued to be high, with 84% aged between 25 and 64. Those under 25 and over 65 represented 5% to 11%, respectively, of clients seen during this year.
Our shop-front premises on the Willesden High Road with a bus stop outside the door mean that we are a visible and accessible resource for our clients, 49% of whom live in local wards: Stonebridge, Harlesden & Kensal Green, Dollis Hill, Roundwood, Willesden Green and Kilburn.
2.3 Business Plan
Our objectives for 2022/23 were:
1. Making it easier to get relevant advice in Brent
CAB want to make it easier to get relevant advice in Brent by providing an accessible and multi-channel service that meets as many community and client needs as possible and respond to changing needs. CAB will improve its telephone advice service as a priority.
When we see clients face-to-face we will provide our services in a pleasant, well-equipped and well-designed environment.
2. Being more influential
We will use the evidence provided by clients and users to be more influential, developing and contributing to research and campaign activity that leads to improvements in policy and practice and prevents problems and systemic failure. We will work in partnership with other agencies and organisations wherever possible and undertake research and campaign work to understand and prevent systemic failures.
3. Becoming a stronger and more sustainable service and organisation
CAB aims to become a stronger and more sustainable service and organisation and aims to be the first choice for funders and commissioners. We will increase our financial sustainability by diversifying our funding portfolio and look at more innovative ways of income generation.
4. Being an organisation staff and volunteers love to work for
CAB will create a friendly, collaborative and innovative culture that adapts to our clients' changing needs. Equality, diversity and inclusion will be fundamental to this culture.
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BRENT CITIZENS ADVICE BUREAUX
Trustees' Report for the Year Ended 31 March 2023
3. ACHIEVEMENTS AND PERFORMANCE
Demand for advice and generalist services
The level of demand has continued to be high. CAB assisted just under 5,000 people in 2022-23, with 9,450 issues. The headline figures cannot reflect, however, the complexity of some of the cases we resolved which were more challenging for the advice team, in part because the government has removed or substantially scaled back the measures put in place to tackle the pandemic-related hardship experienced by many of our clients. But also, in part due to the rising inflation, unprecedented hike in energy costs and general costs of living crisis attributable to the unjust and unprovoked invasion of Ukraine.
CAB has had to train all paid staff and volunteers in supporting clients with managing their energy bills, helping clients with deficit budget to reduce non-priority expenditure, and maximising their income, as well as the changes to other categories of our work. Our team has been instrumental in training advisers in other organisations.
Advice, Information and Guidance Service
The two previous contracts with Brent Council to deliver advice services to people who live, work or study in the borough finally ended in December 2022, as mentioned above. This also ended the sub-grant agreement with AgeUK. Similarly, the Brent Advice Partnership (BAP) Brent Advice Matters (BAM) website and grant programme, which were mainly subcontracted to Brent Council for Voluntary Service (BCVS) have ended.
Having put in a successful bid, Brent Citizens Advice now has a new contract with the Brent Council to Advice, Information and Guidance Service for Brent residents only. The contract, which commenced in December 2022 is for a fixed period of 2 years with an option for two single-year extensions (2+1+1). The overall council funding is now £489k.
Experience has shown that investment in our advice services directly benefits the Council because our early intervention can avert costly expenditure on statutory services further down the line, as is demonstrated by the positive outcomes we obtain for local residents.
We are an organisation with expertise in social welfare law area, including Welfare benefits/credits, Housing, Employment, debt, and immigration. We also hold an AQS Casework in Welfare Benefits and Debt. The accreditation is due for renewal in February 2024, with a plan to apply for AQS Casework for other areas of our work, such as Housing.
Specialist services
Debt Free London
This pan-London debt advice service is funded by the Money and Pensions Service (MaPS) with 27 participating organisations. Toynbee Hall is the project lead. CAB holds a contract to deliver debt advice in Brent. In 2022-23 our service assisted 697 people with combined problem debts of £3,236,012, an increase of 6% compared to the previous year. On the back of successfully delivering the previous contract, which ended on 31 January 2023, we were awarded a new contract. The contract period is 1/02/2023 to 31/03/2024 (2+12) with a possible 4-month extension to July 2024, totalling 18 months.
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Trustees' Report for the Year Ended 31 March 2023
John Fisher Free Legal Advice Service
This project is now in its 22nd year and is generously supported by Clyde & Co LLP. This international law firm has been funding a coordinator to service our Honorary Legal Advice (HLA) sessions since the project started in December 2001, and we are indebted to them for their continued support of the project. Our Virtual HLA Employment Advice Clinic continues to thrive, and lawyers from Clyde & Co advise clients via video call/telephone. This delivery model has proven essential during the pandemic, and attempts are being made to recruit more volunteers for the service.
Park Royal Centre for Mental Health
Pond Ward, Pine Ward and Shore Ward at Park Royal Mental Health Centre in Brent are adult inpatient wards providing a safe and therapeutic environment for people with acute mental health problems. CAB has been funded to provide an advice service for their inpatients since 2004 and continues supporting them primarily with welfare benefits, Housing, and debt matters. A significant relationship with the Trust has built up over the years, and we hope to extend this into the future. We assisted 141 people with 798 issues at PRCMH in 2022-23. The previous year's Client to Issue ratio was 1:2. This year, it is 1:5. This means that clients are presenting more complex and multiple issues.
Outreach services
Family Wellbeing Centres (FWCs)
Under our current IAG service contract, as with our previous primary advice contract with Brent Council, we continue to deliver advice at the eight FWCs in the borough. Parents of children under 18 (previously limited to 5) who are registered with the Centres and need social welfare advice are provided with appointments to see or speak to a CAB adviser. During much of 2022-23, pandemic restrictions meant that the service was delivered by telephone, but from early 2022, in-person appointments resumed at FWCs.
Brent Hubs
CAB commenced delivery of one advice session per week at two of the Brent Hubs in early 2022 - at the Civic Centre and Harlesden Library. Under the current IAG service, we will deliver advice sessions one day a week at each of the 4 Brent Hubs: Civic Centre, Harlesden, Kilburn and Kingsbury. Residents attending the Hubs can be referred to our adviser on days when we are present.
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Trustees' Report for the Year Ended 31 March 2023
3.4 Collaborative work
Working with colleagues from local agencies is now an established part of our culture. There are inherent challenges, for example, some agencies specialise in certain services for a particular category of clients, but overall, we believe that by collaborating with other organisations we offer clients joined up services, and reduce the risk of failed referrals, delays and confusion for clients who may already be desperate for help.
3.5 Media and promotional work
CAB is an avid user of Twitter, enabling us to reach new and existing clients, community groups, voluntary organisations, councillors and MPs and the wider public. Our website enables residents with access to the internet to obtain information about policy and legislative changes of general importance, as well as those that may affect their entitlement to benefits. This aspect has been particularly useful in this period of costs of living crisis.
We will continue to demonstrate to funders, opinion formers and policymakers the value of our work by presenting statistical outcomes that show the impact of our work.
3.6 Staff development and recruiting volunteers
Our staff team is our greatest resource, and their development is vital to maintain a quality service to clients. Staff enhance their skills by attending face-to-face, e-learning, and live/recorded webinars training sessions, regular team briefings and supervision sessions during which they contribute to the process of reviewing performance and raising standards. The Advice and Development Manager meets regularly with the advice supervisor and training officer to discuss, review, and share good practices to ensure consistency and efficiency in the delivery of advice service to Brent residents and support the continuous professional development of the advice team, including the advice volunteers.
Volunteers have a vital and increasingly important role in service delivery. The Trustee Board consists of volunteers who bring a range of skills and experience to the service. Their commitment and contribution are a great asset.
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Trustees' Report for the Year Ended 31 March 2023
BRENT CITIZENS ADVICE BUREAUX
4 FINANCIAL REVIEW
4.1 Financial challenges
CAB continued to face financial challenges in 2022/23 as high levels of competition for scarce funds continued. There will be a restructure to ensure that the Bureau is tailored to the needs of the funders and is also financially viable. A key strategy will be to seek to widen the circle of funders which will reduce the importance of the LB Brent contract and make the Bureau more sustainable.
4.2 Investment powers and policy
The Trustees have continued with investments in higher interest accounts. Under the Memorandum and Articles of Association the charity has the power to invest or deposit funds in any lawful manner whilst having regard to the suitability of investments and the need for diversification.
4.3 Reserves policy
The Trustees have examined the charity's requirements and has established the level of reserves (that is those funds that are freely available) that the charity ought to have in light of the main risks to the organisation. The aim is to ensure that the organisation retains reserves equivalent to three months of operating expenditure to reflect the Trustees' legal and fiduciary obligations on a going concern basis, for example payment of redundancies or other liabilities; or bridge the funding gaps between spending and receiving resources from funders. They are also held to cover possible emergencies, for example sustaining operations whilst income generating activities are under way, and to meet the working capital requirements of the organisation to continue the work of the organisation in the event of a significant reduction in funding.
The level of unrestricted reserves at 31 March 2023 were £608,133 (2022: £524,199), which means the organisation is meeting its aims of holding three months' operating expenditure.
The Trustees continue to employ the fundraising strategy, concentrating on raising sums that require a marginal staff cost, which has resulted in bringing our reserves to the current level.
5. PLANS FOR THE FUTURE
CAB will continue the activities outlined above subject to satisfactory funding arrangements. The major concern for the charity is the need to remove the reliance on the LB Brent contract, the need to restructure and the impact on our clients of inflation and the cost-of-living crisis. Against a backdrop of financial cutbacks and significantly less money available to fund local voluntary groups from traditional sources CAB managed to sustain a reasonable income level this year. The Trustee Board commends this achievement. One of the difficulties affecting all voluntary sector agencies is that funding is typically short-term. This makes strategic planning a significant challenge, especially when demand continues to increase, as is the experience of CAB.
The Trustees are committed to supporting a quality service for our clients, one that reflects a wide range of need in the local community.
The value placed on the contribution of CAB by service users is demonstrated in the high level of satisfaction recorded in our regular surveys of their views.
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BRENT CITIZENS ADVICE BUREAUX
Trustees' Report for the Year Ended 31 March 2023
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Brent Citizens Advice Bureaux for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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Trustees' Report for the Year Ended 31 March 2023
Disclosure of information to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Reappointment of auditor
Brebners will be proposed for re-appointment in accordance with Section 485 of the Companies Act 2006.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The annual report was approved by the trustees of the charity on 20 November 2023 and signed on its behalf by:
......................................... ......................................... Helen Glasson Frances Hutchinson Chairperson and trustee Chairperson and trustee
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BRENT CITIZENS ADVICE BUREAUX
Independent Auditor's Report to the Members of Brent Citizens Advice Bureaux
Opinion
We have audited the revised financial statements of Brent Citizens Advice Bureaux (the 'charity') for the year ended 31 March 2023, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).
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In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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BRENT CITIZENS ADVICE BUREAUX
Independent Auditor's Report to the Members of Brent Citizens Advice Bureaux
Opinion on other matter prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime, and take advantage of the small companies exemptions in preparing the directors' report, and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities (set out on page 12), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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BRENT CITIZENS ADVICE BUREAUX
Independent Auditor's Report to the Members of Brent Citizens Advice Bureaux
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the Charity and the sector in which it operates, we determined that the principal risks of non-compliance with laws and regulations related to the reporting framework (FRS 102, Companies Act 2006 and the Charities SORP 2019), health and safety legislation and data protection legislation. These risks were communicated to our audit team and we remained alert to any indications of non-compliance throughout our audit.
We understood how the Charity is complying with relevant legislation by making enquiries of management and conducting a review of board minutes. We also considered the results of our audit procedures and to what extent these corroborate this understanding and assessed the susceptibility of the Charity's financial statements to material misstatement. This included consideration of how fraud might occur and evaluation of management's incentives and opportunities for fraudulent manipulation of the financial statements.
We designed our audit procedures to identify any non-compliance with laws and regulations. Such procedures included, but were not limited to, inspection of any regulatory or legal correspondence; inspection of grant documentation and the conditions contained therein; challenging assumptions and judgements made by management; identifying and testing journal entries with a focus on large or unusual transactions as determined based on our understanding of the business; and identifying and assessing the effectiveness of controls in place to prevent and detect fraud.
Based on our understanding of the Charity and the sector in which it operates, we determined that the principal risks of non-compliance with laws and regulations related to the reporting framework (FRS 102, Companies Act 2006 and the Charities SORP 2019), health and safety legislation and data protection legislation. These risks were communicated to our audit team and we remained alert to any indications of non-compliance throughout our audit.
We understood how the Charity is complying with relevant legislation by making enquiries of management and conducting a review of board minutes. We also considered the results of our audit procedures and to what extent these corroborate this understanding and assessed the susceptibility of the Charity's financial statements to material misstatement. This included consideration of how fraud might occur and evaluation of management's incentives and opportunities for fraudulent manipulation of the financial statements.
We designed our audit procedures to identify any non-compliance with laws and regulations. Such procedures included, but were not limited to, inspection of any regulatory or legal correspondence; inspection of grant documentation and the conditions contained therein; challenging assumptions and judgements made by management; identifying and testing journal entries with a focus on large or unusual transactions as determined based on our understanding of the business; and identifying and assessing the effectiveness of controls in place to prevent and detect fraud.
Page 16
BRENT CITIZENS ADVICE BUREAUX Independent Auditors Report to the Members of Brent Citizens Advlce Bureaux A5 Part of an audit in accordan¢e vrith ISAS (UK), we exe1$e professional judgement and maintain professional sceptiusm throughout Ihe audit. We also. Identfy an11 assess the risks of material misstatemenl of the financAal slalernents. whether due to fraud or error, design and perform audr( pledUS SponSive to those risks. and obtain 8udii evidence that is sufficient and appropriate to provKle a basis for our opinion. The risk of nol detecting a material misstatement resutting from fraud is hiyher than for one resulling from 8rTor, a5 fraud may invofve (xJIIu5ion. forgery. Intention omi&sions. misrepresentations, or the overTide of intem31 control. Obtsin an understanding of intemal control relewant to the audit in order to design audTt procedures that are appropriate in the CiTuJmstance5, but not for the wrpose of expressing an opinion on the effectiveness of the charTty's inlemal control. Evalu8le the appropfialeness of acUnting poIleS used and the wsonableness of aeeoun15ng estimate5 and related disdosures ma(Je by the trustees. Condude on the appropriateness of the trustees use of the going Concern basis of arUnting and, based on the audit evidence obtsined. whelher a rnaterial uncertainty exists related to events or condriion5 that rnay cast signthcant doubl on 1he char$ ability to continue as a going concem. If we CLJndude th8t a material Lbncertainty extsts, we are required to draw attenti in our auditorfs report to the related di5d05ures in the financial statements or. rf suth disdosures are inadequaie, to mtsdity OUT opinion. Our condusions are based on the audit ewdence obtained up to the d8le ol our 8uditorfs report. However. future events or condition5 may cause the charity to cease to continue as a going concem. Evaluate Ihg overall presentation. slruclure and content of the finanoal ststements, including the disc105ure5. and whether the ffinancial statem2nts present the unde.ng transactions 8nd events in a manner th#t achieves fair presentation. We communicate wrth those charged WTth govemance regarding, among other matters. Ihe planned scope and timing of the audit and significant finding5, induding any significant defiryenryes in intemal control that we identify during our audit. Use of our report This report is made solety to the charilable company's trustees. as a body, in accordance wilh Chapter 3 of Part 16 of the Cwnpanies Act 20c. Our audil work has been undertaken so that we rnigm state to the charitys trustees those matters we are required 10 State to them in an auditorfs report and for no other purpose. To the fulle eent permitted by law. we do not accept or assume responsibilty to anyone other than the charitable company and tts trustees as a body. for our audrt work. for thi5 report, or ft)r the opinions we have fomied. Darren Bond ISenioT Statitto Auditor) For and on behaw of Brebners, Ststutory Auditor 130 Shaftesbury Avenue Lolldon W1D5AR Dale.. 2013 Page 17
BRENT CITIZENS ADVICE BUREAUX
Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Unrestricted | Designated | Restricted | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | Funds | funds | 2023 | ||||||
| **Year ended 31 March 2023 ** | Note | £ | £ | £ | £ | ||||
| Income and Endowments from: | |||||||||
| Local Authority Grant | 3 | 493,265 | - | - | 493,265 | ||||
| Grants & Contracts | 4 | - | - | 286,783 | 286,783 | ||||
| Donations | 5 | 1,115 | - | - | 1,115 | ||||
| Investment income | 6 | 2,280 | - | - | 2,280 | ||||
| Other income | 1,098 | - | - | 1,098 | |||||
| Total income | 497,758 | - | 286,783 | 784,541 | |||||
| Expenditure on: | |||||||||
| Charitable activities | (413,824) | - | (355,694) | (769,518) | |||||
| Total expenditure | (413,824) | - | (355,694) | (769,518) | |||||
| Net income/(expenditure) | 83,934 | - | (68,911) | 15,023 | |||||
| Net movement in funds | 83,934 | - | (68,911) | 15,023 | |||||
| Reconciliation of funds | |||||||||
| Total funds brought forward | 463,467 | 60,732 | 138,818 | 663,017 | |||||
| Total funds carried forward | 19 | 547,401 | 60,732 | 69,907 | 678,040 |
The notes on pages 22 to 40 form an integral part of these financial statements. Page 18
BRENT CITIZENS ADVICE BUREAUX
Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
Comparative Statement of Financial Activities for the Year Ended 31 March 2022
| Unrestricted | Unrestricted | Designated | Restricted | Total | |||||
|---|---|---|---|---|---|---|---|---|---|
| funds | Funds | funds | 2022 | ||||||
| Year ended 31 March 2022 | Note | £ | £ | £ | £ | ||||
| Income and Endowments from: | |||||||||
| Local Authority Grant | 3 | 497,257 | - | - | 497,257 | ||||
| Grants & Contracts | 4 | - | - | 605,778 | 605,778 | ||||
| Donations | 5 | 999 | - | - | 999 | ||||
| Investment income | 6 | 3,535 | - | - | 3,535 | ||||
| Other income | 21,920 | - | - | 21,920 | |||||
| Total income | 523,711 | - | 605,778 | 1,129,489 | |||||
| Expenditure on: | |||||||||
| Charitable activities | (473,637) | - | (674,844) | (1,148,481) | |||||
| Total expenditure | (473,637) | - | (674,844) | (1,148,481) | |||||
| Net income/(expenditure) | 50,074 | - | (69,066) | (18,992) | |||||
| Net movement in funds | 50,074 | - | (69,066) | (18,992) | |||||
| Reconciliation of funds | |||||||||
| Total funds brought forward | 413,393 | 60,732 | 207,884 | 682,009 | |||||
| Total funds carried forward | 19 | 463,467 | 60,732 | 138,818 | 663,017 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 19.
All recognised gains and losses are included in the Statement of Financial Activities.
The notes on pages 22 to 40 form an integral part of these financial statements. Page 19
BRENT CITIZENS ADVICE BUREAUX
(Registration number: 03091835) Balance Sheet as at 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 13 | 90,057 | 181,046 | ||
| Current assets | |||||
| Debtors | 14 | 327,319 | 269,818 | ||
| Cash at bank and in hand | 15 | 504,234 | 594,780 | ||
| 831,553 | 864,598 | ||||
| Creditors: Amounts falling due within one year | 16 | (70,001) | (182,562) | ||
| Net current assets | 761,552 | 682,036 | |||
| Total assets less current liabilities | 851,609 | 863,082 | |||
| Provisions | 17 | (173,569) | (200,065) | ||
| Net assets | 678,040 | 663,017 | |||
| Funds of the charity: | |||||
| Restricted income funds | |||||
| Restricted funds | 69,907 | 138,818 | |||
| Unrestricted income funds | |||||
| Unrestricted funds | 547,401 | 463,467 | |||
| Designated Funds | 60,732 | 60,732 | |||
| Total unrestricted funds | 608,133 | 524,199 | |||
| Total funds | 19 | 678,040 | 663,017 |
The Financial Statements have been prepared in accordance with the provisions applicable to small companies according to Part 15 of the Companies Act 2006.
The financial statements on pages 18 to 40 were approved by the trustees, and authorised for issue on 20 November 2023 and signed on their behalf by:
......................................... Helen Glasson Chairperson and trustee
......................................... Frances Hutchinson Chairperson and trustee
The notes on pages 22 to 40 form an integral part of these financial statements. Page 20
BRENT CITIZENS ADVICE BUREAUX
Statement of Cash Flows for the Year Ended 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Cash flows from operating activities | |||||
| Net cash income/(expenditure) | 15,023 | (18,992) | |||
| Adjustments to cash flows from non-cash items | |||||
| Depreciation | 7 | 90,989 | 92,825 | ||
| Investment income | 6 | (2,280) | (3,535) | ||
| 103,732 | 70,298 | ||||
| Working capital adjustments | |||||
| Increase in debtors | 14 | (57,501) | (53,341) | ||
| (Decrease)/increase in creditors | 16 | (127,561) | 14,895 | ||
| Increase in deferred income | 15,000 | - | |||
| Charged/credited to SOFA | (26,496) | (11,718) | |||
| Net cash flows from operating activities | (92,826) | 20,134 | |||
| Cash flows from investing activities | |||||
| Interest receivable and similar income | 6 | 2,280 | 3,535 | ||
| Purchase of tangible fixed assets | 13 | - | (1,979) | ||
| Net cash flows from investing activities | 2,280 | 1,556 | |||
| Net (decrease)/increase in cash and cash equivalents | (90,546) | 21,690 | |||
| Cash and cash equivalents at 1 April | 594,780 | 573,090 | |||
| Cash and cash equivalents at 31 March | 504,234 | 594,780 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 22 to 40 form an integral part of these financial statements. Page 21
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
1 CHARITY STATUS
The charity is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The charity's registration number is 1049632 and its company registration number is 03091835.
The address of its registered office is: 270-272 High Road London NW10 2EY
2 ACCOUNTING POLICIES
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Brent Citizens Advice Bureaux meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The charity has adapted the Companies Act formats to reflect the special nature of the charity's activities.
The financial statements are presented in sterling which is the functional currency of the charity. Amounts within the financial statements are rounded to the nearest £1.
Going concern
The charity is dependent on the continued support of funders. The trustees believe that the charity will contine to receive support and accordingly consider that it is appropriate to prepare financial statements on a going concern basis. If funding was cut the trustees believe that the charity's activities, and consequently costs, could be reduced accordingly, and with the current level of unrestricted funds they believe that the charity could continue in operation at a lower level of activity for the foreseeable future. The financial statements do not include the adjustments that would result if the charity was unable to continue as a going concern.
In preparing the accounts, the trustees have therefore adopted the going concern basis.
Page 22
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
Income
Donations and legacies income received by way of donations and grants is recognised when the charity is legally entitled to the income, certain of receipt and the amount can be quantified with sufficient reliability. Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income is deferred only when the charity has to fulfil conditions or the income relates to future periods.
Investment income arises from interest bearing bank accounts and is recognised on a receivable basis.
Funds
Unrestricted funds comprise accumulated surpluses and deficits on general funds which are available for use at the discretion of the trustees, in furtherance of the general charitable objectives.
Restricted funds are subject to specific restricted conditions imposed by the donors.
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Investment income
All the investment income arises from an interest-bearing deposit account.
Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. All expenditure is categorised as expenditure on charitable activities includes governance costs and support costs. Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets, other than assets under construction, so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class
IT & Communication Equipment Leasehold Improvements
Depreciation method and rate 25% per annum straight line 25% per annum straight line
Page 23
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
Debtors
Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.
Trade and other debtors are recognised at the settlement amount due.
Cash and cash equivalents
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Provisions
Provisions are recognised when the charity has an obligation at the reporting date as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Operating lease agreements
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pensions
Members of staff who joined prior to 31 October 2000 were eligible to join the Charity's defined benefit managed by the National Association of Citizens Advice Bureaux after the completion of a qualifying period of service. The scheme is a multi-employer pension scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to Brent Citizens Advice Bureaux. In accordance with FRS 102 therefore, the scheme is accounted for as a defined contribution scheme. Contributions to the scheme are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.
Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Fixed assets other than freehold land are recorded at depreciated historical cost and all other assets and liabilities are recorded at cost which is their fair value.
Page 24
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
3 LOCAL AUTHORITY GRANT
| Unrestricted | ||||
|---|---|---|---|---|
| funds | Total | |||
| Total | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| London Borough of Brent: | ||||
| General Advice grant | 373,978 | 325,783 | ||
| Brent Advice Partnership | 119,287 | 171,474 | ||
| Total Local Authority Grants Received | 493,265 | 497,257 | ||
| Less Payments To Partners | (49,495) | (88,000) | ||
| Net Grant | 443,770 | 409,257 |
4 GRANTS & CONTRACTS
| Restricted | ||||||
|---|---|---|---|---|---|---|
| funds | Total | |||||
| Total | ||||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Clyde & Co | 30,000 | 30,642 | ||||
| Brent Housing Management (Partnership) | 6,554 | 26,217 | ||||
| Children's Centres | 57,409 | 114,817 | ||||
| Park Royal Centre for Mental Health | 23,000 | 23,000 | ||||
| Capitalise | 80,993 | 70,791 | ||||
| Winter Warmth Project | 98 | 600 | ||||
| Energy Advice | 35,284 | - | ||||
| Universal Support | 2,749 | 301,535 | ||||
| European Union Settlement Scheme | 7,320 | 16,266 | ||||
| Trussell Trust | 27,376 | 21,910 | ||||
| GLA - Cost of Living Advice | 16,000 | - | ||||
| Total Restricted Grants & Contracts Total Grants & Contracts |
286,783 286,783 |
605,778 605,778 |
||||
| DONATIONS | ||||||
| Unrestricted | ||||||
| funds | Total | |||||
| Total | ||||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Anonymous Donations | 1,115 | 999 | ||||
| 1,115 | 999 |
5 DONATIONS
Page 25
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
6 INVESTMENT INCOME
| Unrestricted | ||||
|---|---|---|---|---|
| funds | Total | |||
| Total | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Interest receivable and similar income; | ||||
| Interest receivable on bank deposits | 2,280 | 3,535 | ||
| NET INCOME/EXPENDITURE | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| This is stated after charging: | ||||
| Audit of the financial statements | 8,100 | 7,200 | ||
| Depreciation of tangible fixed assets | 90,990 | 92,825 | ||
| Operating lease payments | 23,985 | 28,600 | ||
| 123,075 | 128,625 |
7 NET INCOME/EXPENDITURE
8 TRUSTEES REMUNERATION AND EXPENSES
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses from the charity during the year.
Page 26
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
9 STAFF COSTS
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Staff costs during the year were: | ||||
| Wages and salaries | 498,133 | 732,332 | ||
| Social security costs | 20,868 | 67,663 | ||
| Pension costs | (2,110) | 30,047 | ||
| 516,891 | 830,042 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2023 | 2022 | |||
|---|---|---|---|---|
| No | No | |||
| General Bureau Services | 11 | 10 | ||
| Projects | 3 | 9 | ||
| Support | 4 | 8 | ||
| 18 | 27 | |||
No employee earned in excess of £60,000 during the year (2022: no employee).
The charity considers its key management personnel to comprise of one person, the Chief Executive. During the year and the prior year this position was held by two individuals, with no overlap in periods of service. The total aggregate employment benefit for this role was £54,333 (2022: £55,596).
10 AUDITORS' REMUNERATION
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Audit | of | the | financial | statements | 8,100 | 7,200 |
11 TAXATION
The charity is a registered charity and as such is entitled to certain tax exemptions on income and surpluses on trading activities carried on in furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes.
Page 27
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
12 ANALYSIS OF EXPENDITURE
| ANALYSIS OF EXPENDITURE | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current year | Staff Costs £ |
Direct Costs £ |
Governance & Suppport Costs £ |
2023 Total £ |
|||||||
| General Bureau Services | 258,786 | 90,399 | 64,639 | 413,824 | |||||||
| Projects | 258,105 | 54,376 | 43,213 | 355,694 | |||||||
| Totals | 516,891 | 144,775 | 107,852 | 769,518 | |||||||
| Prior year | Staff Costs £ |
Direct Costs £ |
Governance & Suppport Costs £ |
2022 Total £ |
|||||||
| General Bureau Services | 278,124 | 145,860 | 53,512 | 477,496 | |||||||
| Projects | 551,918 | 73,154 | 45,913 | 670,985 | |||||||
| Totals | 830,042 | 219,014 | 99,425 | 1,148,481 | |||||||
| Support cost analysis | 2023 £ |
2022 £ |
|||||||||
| Staff travel cost | 1,636 | 7,013 | |||||||||
| Printing, postage and stationery | 671 | 2,367 | |||||||||
| Telephone and fax | 5,808 | 6,560 | |||||||||
| Computer expenses | 3,333 | 5,268 | |||||||||
| Office sundries | 788 | 6,860 | |||||||||
| Insurance | 598 | 5,874 | |||||||||
| Rent and rates | 23,986 | 28,600 | |||||||||
| Light and heat | 1,071 | 5,930 | |||||||||
| Water | - | 2,792 | |||||||||
| Premises and equipment maintenance | 7,934 | 3,729 | |||||||||
| Cleaning | - | 272 | |||||||||
| Training cost | - | 95 | |||||||||
| Reference material | 9,714 | 2,141 | |||||||||
| Membership fees | - | 7,851 | |||||||||
| Payroll charges | 3,441 | 3,202 | |||||||||
| Bank charges | 382 | 495 | |||||||||
| Depreciation | - | 3,176 | |||||||||
| Total support costs | 59,362 | 92,225 |
Page 28
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
| Support cost analysis | 2023 £ |
2022 £ |
|||||
|---|---|---|---|---|---|---|---|
| Total support costs brought forward | 59,362 | 92,225 | |||||
| Governance | |||||||
| Legal fees | 30,380 | - | |||||
| Accountancy fees | 10,010 | - | |||||
| Audit | 8,100 | 7,200 | |||||
| Total governance costs Total support and governance costs |
48,490 107,852 |
7,200 99,425 |
13 TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | ||||||
|---|---|---|---|---|---|---|
| IT & | Leasehold | |||||
| Communications | Improvements | Total | ||||
| £ | £ | £ | ||||
| Cost | ||||||
| At 1 April 2022 | 84,539 | 358,595 | 443,134 | |||
| At 31 March 2023 | 84,539 | 358,595 | 443,134 | |||
| Depreciation | ||||||
| At 1 April 2022 | 82,790 | 179,298 | 262,088 | |||
| Charge for the year | 1,340 | 89,649 | 90,989 | |||
| At 31 March 2023 | 84,130 | 268,947 | 353,077 | |||
| Net book value | ||||||
| At 31 March 2023 | 409 | 89,648 | 90,057 | |||
| At 31 March 2022 | 1,749 | 179,297 | 181,046 |
Page 29
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
14 DEBTORS
| DEBTORS | ||||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| £ | £ | |||||
| Prepayments and accrued income | 327,319 | 269,818 | ||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Funds received as agent | 49,495 | 88,000 | ||||
| Funds paid as agent | (49,495) | (88,000) | ||||
| Balances held | - | - | ||||
| CASH AND CASH EQUIVALENTS | ||||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Cash at bank | 504,234 | 594,780 | ||||
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Trade creditors | 1,012 | - | ||||
| Other taxation and social security | 11,497 | 23,697 | ||||
| Other creditors | 25,088 | 18,625 | ||||
| Accruals | 17,404 | 140,240 | ||||
| Deferred income | 15,000 | - | ||||
| 70,001 | 182,562 | |||||
| 2023 | 2022 | |||||
| Deferred income | £ | £ | ||||
| Deferred income at 1 April 2022 | - | - | ||||
| Resources deferred in the period | (15,000) | - | ||||
| Amounts released from previous periods | - | - | ||||
| Deferred income at year end | (15,000) | - |
15 CASH AND CASH EQUIVALENTS
16 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Deferred income comprises funds received by the Charity which relate to grants whose conditions for recognition are fully or partially unmet at the year end.
Page 30
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
17 PROVISIONS
| PROVISIONS | ||||||
|---|---|---|---|---|---|---|
| Pension | ||||||
| contributions | Dilapidation | |||||
| provision | provision | Total | ||||
| £ | £ | £ | ||||
| At 1 April 2022 | 112,065 | 88,000 | 200,065 | |||
| Charged to the statement of recognised gains and | ||||||
| losses | (26,496) | - | (26,496) | |||
| At 31 March 2023 | 85,569 | 88,000 | 173,569 |
18 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Total funds at | ||||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted funds | Restricted | 31 March | ||||||
| General | Designated | funds | 2023 | |||||
| £ | £ | £ | £ | |||||
| Tangible fixed assets | 43,335 | - | 46,722 | 90,057 | ||||
| Net current assets | 677,634 | 60,732 | 23,186 | 761,552 | ||||
| Provisions | (173,569) | - | - | (173,569) | ||||
| Total net assets | 547,400 | 60,732 | 69,908 | 678,040 | ||||
| Total funds at | ||||||||
| Unrestricted funds | Restricted | 31 March | ||||||
| General | Designated | funds | 2022 | |||||
| £ | £ | £ | £ | |||||
| Tangible fixed assets | 87,603 | - | 93,444 | 181,047 | ||||
| Net current assets | 575,929 | 60,732 | 45,374 | 682,035 | ||||
| Provisions | (200,065) | - | - | (200,065) | ||||
| Total net assets | 463,467 | 60,732 | 138,818 | 663,017 |
Page 31
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
| **19 ** | FUNDS | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at 1 | Incoming | Resources | Balance at 31 | ||||||
| April 2022 | resources | expended | March | 2023 | |||||
| Current year | £ | £ | £ | £ | |||||
| Unrestricted funds | |||||||||
| General | |||||||||
| General fund | 463,467 | 497,758 | (413,824) | 547,401 | |||||
| Designated | |||||||||
| Repairs reserve | 60,732 | - | - | 60,732 | |||||
| Total unrestricted funds | 524,199 | 497,758 | (413,824) | 608,133 | |||||
| Restricted funds | |||||||||
| Children's Centres | (14,525) | 57,409 | (57,409) | (14,525) | |||||
| Capitalise | (385) | 80,993 | (80,993) | (385) | |||||
| Universal Support | - | 2,749 | (2,344) | 405 | |||||
| Brent Housing Management | - | 6,554 | (7,621) | (1,067) | |||||
| Clyde & Co | 1,972 | 30,000 | (30,000) | 1,972 | |||||
| Park Royal Centre for Mental | |||||||||
| Health | 6,728 | 23,000 | (29,728) | - | |||||
| NCIL | 93,443 | - | (46,722) | 46,721 | |||||
| European Union Settlement | |||||||||
| Scheme | - | 7,320 | (7,320) | - | |||||
| London & Quadrant | (968) | - | - | (968) | |||||
| WDP | 968 | - | - | 968 | |||||
| Winter Warmth Project | 4,795 | 98 | (950) | 3,943 | |||||
| Trussell Trust | - | 27,376 | (27,376) | - | |||||
| Catalyst Housing Brent | 8,687 | - | - | 8,687 | |||||
| Catalyst Housing - Ealing | 167 | - | - | 167 | |||||
| Brent Welfare Reform Project | 2,354 | - | - | 2,354 | |||||
| BAS4IL | 145 | - | - | 145 | |||||
| WPWP | 1,128 | - | - | 1,128 | |||||
| VSIF | 524 | - | - | 524 | |||||
| Veolia | 5,402 | - | (5,402) | - | |||||
| Other | 17,862 | - | - | 17,862 | |||||
| Genesis Community Housing | 8,545 | - | (8,545) | - | |||||
| BDIG | 1,976 | - | - | 1,976 | |||||
| Energy Advice | - | 35,284 | (35,284) | - | |||||
| Cost of Living Advice | - | 16,000 | (16,000) | - | |||||
| Total restricted funds | 138,818 | 286,783 | (355,694) | 69,907 | |||||
| Total funds | 663,017 | 784,541 | (769,518) | 678,040 |
Page 32
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
| Balance at 1 | Incoming | Incoming | Resources | Balance at 31 | Balance at 31 | ||||
|---|---|---|---|---|---|---|---|---|---|
| April 2021 | resources | expended | March | 2022 | |||||
| Prior year | £ | £ | £ | £ | |||||
| Unrestricted funds | |||||||||
| General | |||||||||
| General fund | 413,393 | 523,711 | (473,637) | 463,467 | |||||
| Designated | |||||||||
| Repairs reserve | 60,732 | - | - | 60,732 | |||||
| Total unrestricted funds | 474,125 | 523,711 | (473,637) | 524,199 | |||||
| Restricted | |||||||||
| Children's Centres | 6,001 | 114,817 | (135,343) | (14,525) | |||||
| Capitalise | 20 | 70,791 | (71,196) | (385) | |||||
| Universal Support | 3,137 | 301,535 | (304,672) | - | |||||
| Brent Housing Management | 1,101 | 26,217 | (27,318) | - | |||||
| Clyde & Co | (1,653) | 30,642 | (27,017) | 1,972 | |||||
| Park Royal Centre for Mental | |||||||||
| Health | 6,728 | 23,000 | (23,000) | 6,728 | |||||
| NCIL | 140,165 | - | (46,722) | 93,443 | |||||
| European Union Settlement | |||||||||
| Scheme | - | 16,266 | (16,266) | - | |||||
| London & Quadrant | (968) | - | - | (968) | |||||
| WDP | 968 | - | - | 968 | |||||
| Winter Warmth Project | 5,595 | 600 | (1,400) | 4,795 | |||||
| Trussell Trust | - | 21,910 | (21,910) | - | |||||
| Catalyst Housing Brent | 8,687 | - | - | 8,687 | |||||
| Catalyst Housing - Ealing | 167 | - | - | 167 | |||||
| Brent Welfare Reform Project | 2,354 | - | - | 2,354 | |||||
| BAS4IL | 145 | - | - | 145 | |||||
| WPWP | 1,128 | - | - | 1,128 | |||||
| VSIF | 524 | - | - | 524 | |||||
| Veolia | 5,402 | - | - | 5,402 | |||||
| Other | 17,862 | - | - | 17,862 | |||||
| Genesis Community Housing | 8,545 | - | - | 8,545 | |||||
| BDIG | 1,976 | - | - | 1,976 | |||||
| Total restricted funds | 207,884 | 605,778 | (674,844) | 138,818 | |||||
| Total funds | 682,009 | 1,129,489 | (1,148,481) | 663,017 |
Page 33
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
Name of fund
Children's Centres
Capitalise
Universal Support
Brent Housing Partnership
Clyde & Co
Park Royal Centre for Mental Health
Neighbourhood Community Infrastructure Levy
European Union Settlement Scheme
Trussell Trust
Energy Advice
Cost of Living Advice
Personal Budget Service
London & Quadrant (L&Q)
Westminster Drug Project (WDP)
Winter Warmth
Catalyst Housing Brent
Catalyst Housing Ealing
Brent Welfare Reform Project
Description, nature and purpose of the fund
Generalist advice to parents with children aged 5 and under in the London Borough of Brent.
The provision of specialist debt advice to Brent residents.
Help to Claim project supports Universal claimants, up to the date of their first payment, to receive their full entitlement to this benefit.
The provision of money and debt advice to Brent Council tenants and leaseholders.
The provision of free honorary legal advice with the support of Clyde & Co International Law Firm.
Welfare benefits and money advice to inpatients of Park Royal Centre for Mental Health.
Refurbishment of the Brent Citizens Advice Bureau office which is included within fixed assets where the expenditure is considered capital in nature.
Assistance for vulnerable EU nationals in the Borough of Brent in supporting applications for leave to remain under the EU Settlement Scheme.
Provision of financial advice to help address the root causes of food poverty.
The provision of advice to people struggling with their energy bills and usage.
Funding for the delivery of crisis prevention and specialist casework for vulnerable Londoners.
Provision of support with personal budget to Universal Credit claimants.
Provision of money advice to L&Q tenants under their Pound Advice Project.
Provision of welfare benefits, employment and housing advice to clients of Westminster Drug Project.
Provision of financial suppport to those experiencing fuel poverty through donations made by patrons of the Tricycle Theatre and others.
The provision of money advice to Catalyst Housing tenants and leaseholders living in Brent.
The provision of money advice to Catalyst Housing tenants and leaseholders living in Ealing.
The provision of welfare benefits and debt advice to Brent residents directly affected by changes to the welfare benefits system.
Page 34
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
Name of fund
BAS4IL
WPWP
Voluntary Sector Initiative Fund (VSIF)
Veolia Genesis Community Housing Brent Disability Interim Gateway (BDIG)
Description, nature and purpose of the fund
The provision of debt and employment advice to people aged 18-64 referred to the office by Age UK Brent in order to promote and maximise the independence of Brent's older and disabled people through high quality accessible advice and guidance.
The provision of legal and welfare benefits advice to residents of the St Raphael's Estate, in addition to supporting them to manage their personal finances successfullly, as well as providing advice and to upskilling those living in Brent who are directly affected by the rolllout of Universal Credit.
Funding to improve the employability of local unemployed residents through volunteering.
Funding to allow local residents to clear domestic water debts (ended in December 2012).
The provision of money and debt advice to Genesis Community Housing tenants and leaseholders (ended March 2013).
Funding to deliver advice to disabled people and people with long-term limiting health problems.
The designated unrestricted fund "Repairs Reserve" relates to funds set aside to cover repairs and dilapidations commitments.
Page 35
Notes to the Financial Statements for the Year Ended 31 March 2023
BRENT CITIZENS ADVICE BUREAUX
20 PENSION AND OTHER SCHEMES
Defined benefit pension schemes
Citizens Advice ('the Principal Employer') operates a defined benefit scheme ('the Plan') in the UK which provides both pensions in retirement and death benefits to members. Pension benefits are related to the members' final salaries at retirement and their length of service at the date they retired or left pensionable service. The Plan closed to future accrual on 31 March 2008. The Plan also contains some money purchase AVCs and protected rights funds, which are not included in these disclosures.
In accordance with the schedule of contributions in force over the 2023/24 accounting year, the contributions to the Plan for the year ending 31 March 2024 are expected to be £2,579,000, which includes £2,279,000 towards the deficit and £300,000 as an allowance for administration expenses and all scheme levies. The 31 March 2022 valuation is currently underway and a new schedule of contributions will be put in place at its completion.
The Plan is a registered scheme under UK legislation. The Plan is subject to the scheme funding requirements outlined in UK legislation. The Plan is governed by the Plan's Trust Deed and Rules dated 4 April 2011. The Trustee is responsible for the operation and the governance of the Plan, including making decisions regarding the Plan's funding investment strategy (although they are required to consult the Principal Employer).
A full actuarial valuation of the Plan was carried out as at 31 March 2023 by a qualified independent actuary, based upon membership data as at 31 March 2022, allowing for assumed membership movements over the period from this date, and any material membership movements significantly different from those assumed (e.g. transfers out).
The most recent formal actuarial valuation of the Plan was as at 31 March 2019 and revealed a funding deficit of £68,501,000. In the recovery plan agreed following the valuation, the Principal Employer and other participating employers agreed to pay deficit reduction contributions of £2,279,000 per annum with the view to eliminating the deficit by 31 March 2037. The 31 March 2022 valuation is currently underway.
The liabilities of the Plan are based on the current value of expected benefit payment cashflows to members of the Plan over the next 60 or more years. The average duration of the liabilities is approximately 15 years.
The Plan is exposed to actuarial risks such as market (investment) risk, interest rate risk, inflation risk, currency risk and longevity risk.
Page 36
Notes to the Financial Statements for the Year Ended 31 March 2023
BRENT CITIZENS ADVICE BUREAUX
The major assumptions used by the actuary were (in nominal terms) as follows:
| As at | 31 | As at | 31 | |
|---|---|---|---|---|
| March | March | |||
| 2023 | 2022 | |||
| % | % | |||
| Discount rate | 2.85 | 3.25 | ||
| Inflation (RPI) | 4.80 | 2.80 | ||
| Revaluation of deferred pensions in excess of GMP | 2.85 | 3.25 | ||
| Pension in payment increases of: | ||||
| - | - | |||
| Discount rate | 3 | 3 | ||
| - CPI or 5% p.a. if less | 2.85 | 3.25 | ||
| - CPI inflation since retirement or 5% p.a. compound if less | 2.50 | 2.70 | ||
| - CPI or 3% p.a. if less | 2.50 | 2.70 | ||
| Commutation of pension for cash at retirement (% of HMRC maximum) | 75.00 | 75.00 |
Assumed life expectancies on retirement at age 65 are:
| Assumed life expectancies on retirement at age 65 are: | ||
|---|---|---|
| As at 31 | As at 31 | |
| March | March | |
| 2023 | 2022 | |
| Years | Years | |
| Current UK pensioners at retirement age - male | 21 | 21 |
| Current UK pensioners at retirement age - female | 24 | 24 |
| Future UK pensioners at retirement age - male | 22 | 23 |
| Future UK pensioners at retirement age - female | 25 | 26 |
Page 37
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
The assets in the Plan were:
| Value at 31 | Value at 31 | |||
|---|---|---|---|---|
| March | March | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Multi asset funds | 24,903,000 | 68,955,000 | ||
| Structured Equity | 35,116,000 | 27,488,000 | ||
| Cash | 726,000 | 5,771,000 | ||
| Fair Value of Plan assets | 60,745,000 | 102,214,000 |
The actual return on assets over the period was:
| As at 31 | As at 31 | |||
|---|---|---|---|---|
| March | March | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Return on scheme assets | (37,084,000) | 5,301,000 | ||
| Reconciliation of scheme assets and liabilities to assets and liabilities recognised | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Present value of defined benefit obligation | (111,169,000) | (148,768,000) | ||
| Fair value of scheme assets | 60,745,000 | 102,214,000 | ||
| Defined benefit pension scheme deficit | (50,424,000) | (46,554,000) |
Reconciliation of opening and closing balances of the present value of the defined benefit obligation
| 2023 | ||
|---|---|---|
| £ | ||
| Present value at start of year | 148,768,000 | |
| Current service cost | 832,000 | |
| Interest cost | 4,074,000 | |
| Actuarial gains and losses | (35,041,000) | |
| Benefits paid | (7,464,000) | |
| Present value at end of year | 111,169,000 |
Page 38
BRENT CITIZENS ADVICE BUREAUX
Notes to the Financial Statements for the Year Ended 31 March 2023
Reconciliation of opening and closing balances of the fair value of Plan assets
| 2023 | ||
|---|---|---|
| £ | ||
| Fair value at start of year | 102,214,000 | |
| Interest income | 2,801,000 | |
| Return on plan assets, excluding amounts included in interest income/(expense) | (39,885,000) | |
| Employer contributions | 3,079,000 | |
| Benefits paid | (7,464,000) | |
| Fair value at end of year | 60,745,000 |
The pension scheme has not invested in any of the charity's own financial instruments or in properties or other assets used by the charity.
The amounts recognised in profit or loss
| As at 31 March 2023 £ |
As at 31 March 2022 £ |
||
|---|---|---|---|
| Service cost - including current and past service costs and liabilities | |||
| - | - | ||
| Service cost - administrative cost | 832,000 | 771,000 | |
| Net interest on the net defined benefit liability | 1,273,000 | 1,285,000 | |
| Total expense | 2,105,000 | 2,056,000 |
Remeasurement of the net defined benefit liability (asset) to be shown in OCI
| As at 31 March 2023 £ |
As at 31 March 2022 £ |
As at 31 March 2022 £ |
||
|---|---|---|---|---|
| Actuarial (gains)/losses on the liabilities | (35,041,000) | (11,745,000) | ||
| Return on assets, excluding interest income | 39,885,000 | (3,240,000) | ||
| Changes in the effect of the asset ceiling excluding interest income | - | - | ||
| Total remeasurement of the net defined benefit liability (asset) to be | ||||
| shown in OCI | 4,844,000 | (14,985,000) |
Page 39
Notes to the Financial Statements for the Year Ended 31 March 2023
BRENT CITIZENS ADVICE BUREAUX
21 FINANCIAL COMMITMENTS
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Land and buildings | ||||
| Within one year | 28,600 | 28,600 | ||
| Between one and five years | 114,400 | 114,400 | ||
| After five years | 178,182 | 206,782 | ||
| 321,182 | 349,782 |
The total amount recognised as an expense relating to operating leases during the year was £28,600 (2021: £28,600).
22 LIABILITY OF MEMBERS
The Charitable Company is limited by guarantee and has no share capital. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to to £1 per member of the Charity during the time they are a member, or one year thereafter, as stated in the Memorandum and Articles of Association. There is no one controlling party.
Page 40