**Registered number: 03191085 Charity number: 1056102**
# **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
# **(A Company Limited by Guarantee)**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1 - 2|
|**Chairman's Statement**|3 - 4|
|**Trustees' Report**|5 - 13|
|**Independent Auditors' Report on the Financial Statements**|14 - 17|
|**Statement of Financial Activities**|18|
|**Balance Sheet**|19 - 20|
|**Statement of Cash Flows**|21|
|**Notes to the Financial Statements**|22 - 49|
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023**
|**Trustees**|Mr A K Arain|
|---|---|
||Ms J C Belman|
||Mr A H Bridges, Honorary Treasurer|
||Ms M R Cable|
||Mr C Claxton-Shirley|
||Dr P M Gray|
||Mr B Humphrey (resigned 7 November 2022)|
||Ms A P Jackson, Chair|
||Mr R L Johnson (resigned 22 April 2022)|
||Ms L J Jones|
||Dr D A Livesey (resigned 7 November 2022)|
||Mrs C Lloyd-Evans (resigned 7 November 2022)|
||Dr C J Powell|
||Dr G A Reid (resigned 16 May 2022)|
||Mr K Stonell (resigned 5 April 2022)|
||Mr G E D Wilson (resigned 3 July 2022)|
|**Company registered**||
|**number**|03191085|
|**Charity registered**||
|**number**|1056102|
|**Registered office**|66 Devonshire Road|
||Cambridge|
||Cambridgeshire|
||CB1 2BL|
|**Company secretary**|Ms H Jones|
|**Chief executive officer**|Ms R Talbot|
|**Independent auditors**|Price Bailey LLP|
||Chartered Accountants|
||Cambridge Business Park|
||Cambridge|
||CB4 0WZ|
|**Bankers**|Barclays Bank Plc|
||11 St Andrews Street|
||Cambridge|
||CB2 3AA|
|**Solicitors**|Tees Laws|
||Titan House|
||Castle Park|
||Cambridge|
||CB3 0AY|
Page 1
**CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **Accountants**
## **Patrons**
Peters Elworthy & Moore Salisbury House Station Road Cambridge CB1 2LA Patrons Lady Cass Lady Chadwyck-Healey Dr Pamela Raspe Cazzy Walshe
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**CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **STATEMENT FROM THE CHAIR OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
The financial year 2022/23 was a year of development and change within Cambridge and District CAB.
In April 2022 we took on the national “Help to Claim” contract providing advice on Universal Credit across the region. This was a major undertaking for the charity worth £420,993 for the year and included the TUPE transfer of 10 new staff from other CAB offices into Cambridge so that we were ready to go live from 1 April. This was initially a one-year contract underlining the short-term nature of much of our funding arrangements, but by the end of the year the contract was renewed into 23/24 pending a national procurement process for the contract from 24/25 onwards.
The national contract is an important source of income but it is also vital that we are focused on local need and continue to develop services to meet that need. Local service developments 2022/23 included:
The expansion of Help through Hardship which provides services via the Foodbank.
Two new joint projects with Rural Cambs CAB
- An Income Maximisation project funded with NHS money via the County council. We were awarded £50k set up costs and will have further funding into 23/24.
- A project funded by Change Grow Live to work with recovering addicts in their centres, giving financial and benefits advice. This comprised £16,634 start-up funding in 22/23 followed by funding for 23/24 to cover 2 FTE workers.
We also undertook work this year to develop a new Foodbank project to go live in 2023/24. This will see 2 FTE advisors visiting all foodbanks in South Cambs and Cambridge every other week, with the aim of addressing the underlying financial issues that are causing people to need to use a foodbank.
The scale of need we are addressing is illustrated by the number of clients we have supported. Some of the rise will be explained by the impact of the wider Help to Claim contract we are now delivering, but in addition the costof-living crisis is impacting a far wider range of people than we have seen previously.
We continued to offer telephone consultations, email, webchat and video to our clients and continued to focus our resources on outreach in the community and offering planned appointments, and some traditional drop-in at a few locations.
During 2022/23 we helped 26,429 clients (up from 20,564 in the previous year). Those clients gained £21.1m income (This compares to £11.2m in 21/22 and £6.8m in 2020/21.) The total number of issues raised by clients was 73,566. The majority of these (42,623) were benefits advice and unsurprisingly, given the national contract, 68% were about Universal Credit.
Our Equalities monitoring shows we continue to attract a younger age group than we did pre-Covid. We see a higher rate of females to males but only slightly. With regards to ethnicity, Black, Asian and Minority ethnic clients made up 22% of our client base. 51% of our client base has a disability or long-term condition. We have joined Disability Confident and added “Recite Me” to our website – an Assistive Toolbar that helps people with vison issues, learning disabilities, Literacy, Language, physical disabilities
In addition to providing the advice people need for the problems they face; another part of our mission is to try and help improve the policies and practices that affect people’s lives. We do this by ensuring we collect data and make our interactive dashboard available to funders and other policy makers. We regularly brief our local MPs on local need and the impact of policy on the local community. We are also being funded by the local Health Alliance to attend various health committee meetings and to produce data on the impact of the voluntary and community sector has on population health and wellbeing. This scale of this contribution is so often significantly underestimated. We have also continued to publicise advice issues on local radio and have attended pop-up cost of living events organised by Cambridge City Council.
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## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **STATEMENT FROM THE CHAIR OF TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
It was also good to start 2022/23 with some new tenants in our building providing much needed income. These are Cogwheel (who offer wellbeing and counselling support) and Lawstop (who are legal aid lawyers). The latter arrangement is also beneficial in that we can refer clients directly to them.
We are extremely grateful for the support we have received from Cambridge City Council, South Cambridge District Council, Cambridgeshire County Council and grants via Citizens Advice to help deliver national contracts on behalf of the DWP and the Trussell trust amongst others.
We are lucky to have a very dedicated and skilled Trustee Board. We said goodbye to a number of trustees during the year: David Livesey, George Reid, Caroline Lloyd Evans, Bill Humphries, Geoffrey Wilson, Keith Stonell and Richard Johnson. Many of them were very long serving Trustees and we are extremely grateful for the support that they gave the charity over so many years. We also welcomed Chris Powell as a new Trustee. During 22/23 Trustees reviewed our governance structures to ensure we were matching best practice for charities of our size and implemented an action plan to address some gaps.
At the heart of Cambridge and District CAB are the staff and volunteers who are dedicated to achieving good outcomes for our clients and do so effectively and compassionately. This year we have invested in new training and development plans for both staff and volunteers and sought to deliver more effective communication with them. We have also invested in more wellbeing support in recognising the isolating pressures of remote working and increasingly distressing calls and demands from clients. On behalf of the Trustee Board I would like to thank them all very much for their ongoing commitment and for everything they have achieved this year and to also recognise the leadership provided by CEO Rachel Talbot and her senior team.
Looking ahead to 23/24 some key aims:
- Open a refurbished reception area to enable larger/safer interview spaces and to accommodate our new tenants
- open 3 more outreach sessions offering both drop-in and appointments
- Develop support package for partner agencies including a strengthened trusted partner network and referral pathways to our caseworkers
- refresh our Trustee Board with some new trustees to address skills gaps amongst the Board and review our subcommittee structure.
## **Antoinette Jackson Chair**
Date:
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## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023**
The Trustees present their annual report together with the audited financial statements of the Cambridge and District Citizens Advice Bureau for the year 1 April 2022 to 31 March 2023. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **OBJECTIVES AND ACTIVITIES**
**Our Mission** : The Citizens Advice service provides free, independent confidential and impartial advice to everyone on their rights and responsibilities. It values diversity, promotes equality and challenges discrimination.
## **Our Aims:**
- To provide the advice people need for the problems they face
- To improve the policies and practices that affect people’s lives
- To be proactive where possible and reactive when necessary
## **Our values** :
- **Purpose Driven** - We always focus on the people who need our help
- **People Focused** - We recognise, value and reward everyone's contributions and talents in an open, fair and meaningful way
- **Collaborative** - We build relationships across teams and locations to foster innovation and inclusive ways of working
- **Transparent** - We're open and honest, sharing information early and often whenever we can
## **Citizens Advice has 4 principles** :
- Independence
- Impartiality
- Free
- Confidentiality
The organisation has a comprehensive 3-year business plan which is reviewed annually and the objectives for the coming year are agreed at various meetings of the Board and staff and volunteers. Priorities from the previous year are reviewed and revised for the coming year.
The Board receives a quarterly Performance and Delivery report from the Senior Leadership Team against the primary objectives for the year. This includes dashboards from our casebook client data base i.e. real time information relating to numbers, issues, outcomes, demography, socio economic, nationality, disability and other factors.
We are also assessed quarterly by CA from the data they have been independently gathering. This is the Performance and Quality framework report containing 5 elements: Quality of advice (and comparators of where we are in our “family group” i.e. similar type CAB); Client experience (again compared with others); Leadership self-assessment (are we a well-run organisation?); People survey (what our staff and volunteers think): Financial health monitoring (are we in line with budget and have sufficient reserves/cashflow).
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## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
Annually, the organisation is subject to a Leadership Self-Assessment (LSA) audit by National Citizens Advice which is an external assessment of how the organisation is achieving under 9 categories:
- 1 Governance
- 2 Strategic business planning
- 3 Risk management
- 4 Financial management
- 5 People management
- 6 Operational performance management
- 7 Partnership working
- 8 Research and campaigning
- 9 Equality
We passed this assessment with full marks in 2022. This is a requirement for retaining the AQS (Advice Quality Standard), MAPs (standard for debt advice) and FCA (We are not allowed to do Debt work without this because it is a regulated activity).
## **Business plan 22-23 CCAB Strategic Objectives**
- To be recognised as the best comprehensive advice service by concentrating on helping as many people as possible and getting clients to the most effective help in the shortest time. We will continue to build on our status as the premier provider of generalist advice locally.
- To continue to develop advice in the community via outreaches.
- To continue to develop partnership projects which, among other things, will enable and empower groups in the community to deliver basic information locally.
- To help people to use ICT effectively - to bridge the digital divide and enhance the delivery of advice, training and initiatives by providing or helping people to utilise free access to these services in community locations.
- To continue to develop a diversified funding base and introduce efficiencies in the back-office service delivery functions.
- Reach more young people by working on making what we do more accessible to them and helping them to understand that what we do is relevant to their generation.
- To add value through the use of highly trained volunteers offering professional- level advice, building a robust and diverse workforce and increasing it to meet the increase in client numbers and maximise the impact of our volunteers.
- To use our advice hub building to raise income to support the core work of the organisation
- • To continue to expand our financial education and to offer comprehensive and preventative money advices services and extend into work on employability and skills for work utilising volunteering opportunities as a base
- Extend our research and campaigning work to involve more people and generate more evidence to support our endeavours to influence policy and decision makers
In our business plan we have set out 10 core Objectives and we achieved much of what we set ourselves including new projects such as reinstating an Outreach at Addenbrooke’s hospital and attracting commercial sponsorship to achieve some of these aims.
However, at business planning sessions (in person meetings on hold during Covid), Trustees, volunteers and staff agreed that whilst having a background of 10 key objectives in the main business plan we needed to hone in on a more realistic number to focus on during each year:
## **1. Need to look for different channels for advice – webchat, and video appointments**
Successfully set up video units at various outreach centres. Created a “local” Webchat function and revised the website to ensure accessibility for people with disability and language issues.
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## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **2. Changes to benefits (UC, PIP)**
Requests for help with benefit issues has been higher than any year.
## **3. Profile raising – recruit volunteers**
We were successful in re-establishing our volunteer recruitment process and attracted over 40 during the year.
## **4. Partnership development – keep and develop outreach, especially at new venues e.g. Food hubs, Cambridge Mosque**
We established a partnership with the Cambridge City Foodbank and they have commissioned us to be present at all their foodbanks during the next year. We have also brokered a similar partnership with Change, Grow, Live.
## **Overview**
The client is at the heart of the Citizens Advice service. The organization is here to ensure that people who need help get the right help at the right time.
With an increase in the demand for advice, caused by (and expected to far outlast) the recent economic upheaval, this is quite a challenge to step up to. And it doesn’t mean simply doing more of what we’re already doing either. We want to go further than that.
Members of the public expect to be able to access advice easily, when and how they choose, and to feel comfortable doing it. We want to meet their expectations with a more flexible, responsive and approachable service.
Our funders expect strong clear evidence of outcomes and higher service delivery standards. We want to meet their expectations too, with effective advice and preventative services that are well led and well administered.
The core area of our work bureau is generalist advice work. The generalist work consists of 'one off' advice in the 14 key areas of benefits, consumer issues, debt, education, employment, finance, health, housing, immigration and nationality, legal, relationships, tax, travel and utilities.
Additional services include casework up to representation at tribunal in debt, welfare rights, and housing plus financial capability education work including energy advice. A lot of our debt work slowed down because of the hold on various actions like evictions but we are starting to see a steady increase and expect a large increase in demand for this type of help as we see the impact of people “living on empty”. The Financial Conduct Authority and the Money and Pensions Service have warned that the current economic climate will bring a large demand for money and debt advice.
## **Volunteers**
On average there were 50 volunteers contributing towards activities throughout the year. These include generalist advice, help with administration, Caseworker support functions, IT support, and Trustees. The first level Generalist Advice function is primarily resource by volunteers. We have calculated that the value of this voluntary work would be worth £294k (using a social calculator that Citizens Advice supply).
## **Public Benefit**
The Trustees have complied with the duty in Section 4 of the 2006 Charities Act to have due regard to guidance published by ·the Charity Commission when exercising any powers or duties to which the guidance is relevant. CCAB provides free advice services to the general public of Cambridge and surrounding areas by the means of face- to-face, phone, email and remote (web based) systems. During this and the previous year a qualifying thirdparty indemnity provision was in force for the benefit of the Trustees.
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## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
As per the Chair’s report, our advisers logged 26,429 clients (20,564 in the previous year), 73,566 issues (42,623 in the previous year – reflecting the impact of the work we deliver towards national contracts) and 34,500 contacts/activities (24,625 in the previous year). 68% of our work is on benefits advice.
We helped with financial outcomes (income and debt) totaling £24,632,944 – nearly double the previous year.
## **Quality**
During the year we maintained and improved our Quality of Advice score. We continue to work to the Advice Quality Standard mark and the Financial Conduct Authority. We retained our status as a Living Wage Foundation accreditation and joined the Disability Confident Employers group. Our specialist money advisers are members of the Institute of Money Advisers, are qualified Debt Relief Order Intermediaries and all our advisors are fully trained to the appropriate levels of GGDA (Giving Good Debt Advice) as required by the Money Advice Service Quality Framework and FCA.
## **Internal and External Factors**
The Board has identified external factors affecting the charity which are outside of its control such as the ongoing impact of the pandemic and issued various policies to everyone as to how the organisation is responding and changing to adapt, the cost of living, changes to the welfare rights system and changes in funding streams Factors within control have been: effective cost management; high levels of satisfaction with the service provided; good partnership working and income generation despite the external factors having a negative impact on income from rent and Patrons fundraising.
## **Complaints**
The CCAB complies with the formal complaints procedure as set out by the Citizens Advice membership standards. We can report that there were: - 6 formal complaints brought against the bureau during the period. 2 partially upheld. (2 the year before with none upheld)
## **FINANCIAL REVIEW**
During the year, the Charity generated total income of £1,362,799 (2022: £940,754), comprising £1,154,703 donations and grants (2022: £805,557), £155,805 charitable activities (2022: £110,732), £50,769 property rent & hires (2022: £24,171) and £1,522 bank interest (2022: £294).
Total expenditure during the year was £1,328,737 (2022: £982,657), comprising £73,647 fundraising (2022: £62,709) and £1,255,090 charitable activities (2022: £919,948).
The net income before investment gains and losses was £34,062 (2022: £41,903 net expenditure). After the loss on revaluation of the investment property, the overall net movement in funds was a £24,938 deficit (2022: £34,903 deficit).
The total funds at the year-end were £1,034,699 (2022: £1,059,637), of which £188,727 were restricted (2022: £80,207) and £845,972 were unrestricted (2022: £979,430).
## **Reserves Policy**
The trustees believe that the bureau should hold sufficient financial reserves to allow for the following:
- To ensure that the charity can continue to operate and meet the needs of its clients in the event of unforeseen and potentially damaging circumstances, including a lapse in funding.
- To ensure that the charity can fulfil its contractual commitments.
- To permit the charity to undertake projects that require initial funding from the charity before funds will be provided from external bodies.
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## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
The trustees review the level of necessary reserves on at least an annual basis.
Unrestricted reserves consist as follows:
- General Fund - To maintain a healthy cashflow for the day-to-day operations of the bureau. It is desirable that this should be sufficient to cover around 6 months of typical unrestricted expenditure in a scenario where external funding has lapsed. Fund balance is £30,972 (2022: £105,430). The target for liquid assets is £165,000.
- 66 Devonshire Road - The net value of the investment part of the property purchased by the bureau. The 25-year loan for the purchase of this property should be met by the sale of this asset. As the fund consists solely of the value of the building, it is not considered to be a liquid asset. Fund balance: £570,000 (2022: £570,000).
- Revaluation Reserve – This includes the investment proportion of the property above. Fund balance: £145,000 (2022: £204,000).
- Development Reserve - This fund was created to provide cashflow for development opportunities where funding might be delayed or held back by funders until completion of a project. Fund balance: £80,000 (2022: £80,000).
- Building Maintenance – This fund is designated for the ongoing maintenance and renewal of the bureau’s property at 66 Devonshire Road and its contents, including plant and ICT-related equipment. Fund balance: £20,000 (2022: £20,000).
In addition to the funds described above, the bureau aims to achieve a surplus of £50,000 each year for capital repayment of the mortgage. However, in this year, the bureau had an extended period of uncertainty regarding other financial commitments, and thus did not make such a repayment. No repayment was made in the prior year either due to the impact of Covid on rental income.
The total funds held by the charity at the year-end were £1,034,699 (2022: £1,059,637). Of these funds £715,000 (2022: £774,000) is related to the investment part of the property and £188,727 (2022: £80,207) in respect of restricted funds not available for general use.
## **Restricted Reserves**
Any funds that are restricted by the donor or funder cannot be used for the general purposes of the bureau. Their existence, and the sums of money therein, do not imply that there has been an underspend but may result from a variety of circumstances including timing differences between the bureau's financial year and the funding year of the project concerned.
We currently hold restricted fixed assets which are being depreciated annually.
## **Principal Funding Sources**
The charity primarily seeks funds in the form of grants from local government organisations, philanthropic institutions and other corporate charitable initiatives. The principal sources of our core funding were Citizens Advice 47% (34% in 2022) and Cambridge City Council 27% (39% in 2022).
In addition to these activities, fundraising is carried out by the charity's patrons, volunteers and staff through social events and online promotion.
The charity does not make use of professional fundraisers or commercial participators to raise funds, other than bid-writing services to assist in the preparation of grant applications, nor does the charity have fundraising carried out on its behalf by third parties other than basic payment conduit services provided by CAF Donate.
The charity is aware of its obligations under the Charities (Protection and Social Investment) Bill to ensure that any future written agreements mandate adequate fundraising standards, as required under the Bill, with appropriate safeguarding for vulnerable members of the public from intrusive or persistent approaches.
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## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
In the year ended 31 March 2023 no fundraising complaints were received (2022: nil).
## **Investment Policy and Objectives**
The charity has no long-term funds to invest, but aims for any surplus funds to be invested in interest-bearing deposit accounts. Detailed targets for rental income are set and agreed by the trustees in advance of the financial year and results monitored on a quarterly basis.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing Document**
The bureau was originally set up as a charity in September 1939 but subsequently changed its status to a charitable company limited by guarantee by incorporation on 26 April 1996 and was registered under a new charity number on 13 June 1996. The company is established under a Memorandum of Association which identifies its objects and powers and is governed under its Articles of Association. In the event of the company being wound up every member (including members who ceased to be members within one year prior to such winding up) would be required to contribute to the company's assets an amount not exceeding £1.
The Charity's objects are to promote any charitable purpose for the benefit of the community in the area of the City of Cambridge, South Cambridgeshire District Council and elsewhere ("the area of benefit") by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress.
## **Recruitment and Appointment of New Trustees**
The maximum number of trustees is 21 and the minimum is 4. Trustees are either elected at the annual general meeting, or nominated by member organisations or co-opted by the trustee board (provided that the number of co-opted trustees does not exceed one third of the total number of trustees). All elected and nominated trustees shall retire from office at the third annual general meeting following their election or appointment respectively but may be re-elected or reappointed for a further term.
In addition to the above trustees, the following attend the board meetings as non-voting members:
Rachel Talbot - Chief Executive Helen Jones – Deputy CEO Julie Cornwell - Observer from Cambridge City Council Carla Melvin – Relationship Manager from Citizens Advice
## **Organisational Structure**
## _Governance_
The organisation has role descriptions for the trustees, the chairman, the vice chairmen, the honorary treasurer and the company secretary and these are reviewed from time to time.
Good governance is achieved through the following subcommittee and group structure. The organisation has an Operations Committee, a Staff/Personnel Committee, an Appeals Committee and a Research and Campaigns Group. Each of these report to the trustee board. The Chief Executive attends all meetings of the sub committees and some of the working groups. (A review of the committee structure has been underway and some of these committees have not been meeting)
- 1 Operations Committee
Functions: Monitoring, challenging and approval of all budgets/end of year accounts/projects/contracts, strategic and business planning/salaries.
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## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
There is a standing invitation to all Board Members to attend the meetings of this committee if they so wish.
- 2 Staff/Personnel Committee
Functions: Annual review of HR matters and review of changes in staff and volunteer issues as and when needed. This committee leads on salary and remuneration reviews.
- 3 Appeals Committee
Functions: To process disciplinary and grievance issues at the appropriate stage of the procedure.
- 4 Research and Campaigns Group
Functions: To determine the Research and Campaigns strategy and to oversee the quality of this work.
## The Chief Executive is responsible to the Board:
- for management, development and strategic planning
- to show vision and leadership in the continuing development of CCAB
- to serve and advise the trustee board of Directors in carrying out their responsibilities, in maintaining an overview of the organisation and in making appropriate strategic, policy and financial decisions.
## **Remuneration Policy**
Salaries follow the NJC guidelines and this sets the cost of living rises each year. The CEO salary is reviewed by a sub group of the board which is led by the Chair of the Personnel committee and consists of the Chair of the Board, the 2 Vice Chair and the Treasurer.
## **Regulation**
CCAB is regulated by the Financial Conduct Authority FRN: 617537 CCAB is a qualified Living Wage employer CCAB is regulated under the Advice Quality Standard and the Money Advice Service quality framework
## **Induction and Training of New Trustees**
New trustees are provided with an 'Induction Pack' covering such topics as legal status and governance, structure, organisation and staffing, finances, policy and strategy. They are invited to attend the bureau and observe service delivery. In addition, to familiarise themselves with the charity and the context within which it operates, new trustees are invited and encouraged to attend training courses organised by Citizens Advice and to attend specialised training where it is considered to be appropriate.
## **Citizens Advice**
The charity is a member of Citizens Advice (CA) and is regulated by its membership requirements and its aims, principles and policies.
## **Risk management**
The Trustee Board has approved the risk management strategy and reviews the risk assessment regularly. CCAB has identified high and medium level operational level risks in IT, HR and Finance.
## **Risks are identified and evaluated in the following ways:**
Regular reviews are performed by the Trustee Board in order to assess the likelihood and impact, relevance of risks, current strategies applied and the strength of the strategies. The residual risk is identified and action plans are created to further mitigate risk.
The Trustee Board is responsible for monitoring external developments that may impact on the organisation.
Comprehensive budgeting systems and financial reporting, which indicate financial performance against the budget, and forecasts are reviewed and agreed by the Operations Committee and the Trustee Board.
The most significant risks faced by CCAB have been identified by the Trustee Board and relate to the following:
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## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
- CEO on long term sickness or dies
- Cuts to Local Authority funding
- Lack of the right quality of volunteers to fill advice rotas
- - Information breach
## **These risks are mitigated by:**
- a Deputy CEO Post
- diversifying our funding streams
- changing our selection and training system
- rigorous training, new policies, spot checking under GDPR.
## **PLANS FOR THE FUTURE**
- To continue to develop advice in the community via outreaches by opening 3 new outreaches each year.
- • To train 40 frontline workers
- To fully introduce local webchat to make service more accessible.
- Reach more young people and marginalised communities by working on making what we do more accessible to them and helping them to understand that what we do is relevant
- Extend our research and campaigning work to involve more people and generate more evidence to support our endeavours to influence policy and decision makers.
## **GOING CONCERN**
The Trustees consider that there are no material uncertainties about Cambridge and District Citizens Advice Bureau’s ability to continue as a going concern despite the net current liabilities position of £254,738 which has occurred due to the reclassification of the loan as at 31 March 2023 to creditors due within one year. Since the year end Unity Bank have confirmed they will issue a reservation of rights and would only seek repayment if arrears were present. All payments are up to date and income and expenditure are being closely monitored on a monthly basis such that costs will be reduced if income is not sufficient to cover them and that restricted funding is closely monitored to ensure that budgets are met. Additionally, there is no unplanned expenditure from reserves. With regard the following year (and most years), the most significant areas of uncertainty are the level of grant funding which needs to be raised each and every year due to very few grants and contracts being agreed for more than 1 year.
## **TRUSTEES' RESPONSIBILITY STATEMENT**
The Trustees (who are also directors of Cambridge & District Citizens Advice Bureau for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors 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 directors 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 the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors are required to:
Page 12
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
1. select suitable accounting policies and then apply them consistently;
2. observe the methods and principles in the Charities SORP FRS102;
3. make judgments and accounting estimates that are reasonable and prudent;
4. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
5. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
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. Insofar as the Trustees are aware:
- There is no relevant audit information of which the charitable company’s auditor is unaware.
- The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is themselves aware of that information.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The Trustees are responsible for overseeing any significant fundraising activities including those involving members of the public to ensure that robust processes are adopted and adhered to. Since Covid, the charity has not undertaken any significant public fundraising activities. A new trustee finance sub-committee will oversee all significant fundraising activities from January 2024 onwards.
## **APPOINTMENT OF AUDITORS**
In accordance with the Financial Procedures of the charity, the bureau’s Trustee Board is responsible for recommending the appointment of an auditor at the annual general meeting prior to the year end, with the Treasurer and CEO responsible for reviewing this appointment.
A full review of auditors should be carried out at least once every 7 years. This process was last concluded in October 2016, with Price Bailey appointed, and will be carried out again this year with a comprehensive tender process.
Approved by order of the members of the board of Trustees and signed on their behalf by:
**Ms A P Jackson Chair**
**Mr A H Bridges Honorary Treasurer**
Date:
Page 13
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **OPINION**
We have audited the financial statements of Cambridge and District Citizens Advice Bureau (the 'charity') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company'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;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 14
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (CONTINUED)**
## **OTHER INFORMATION**
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. 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. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- 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 charitable company 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 in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- 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 Trustees' Report and from the requirement to prepare a Strategic Report.
Page 15
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (CONTINUED)**
## **RESPONSIBILITIES OF TRUSTEES**
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **AUDITORS' 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 Auditors' 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:
We gained an understanding of the legal and regulatory framework applicable to the charity and how it operates and considered the risk of the charity not complying with the applicable laws and regulations including fraud in particular those that could have a material impact on the financial statements. This included those regulations directly related to the financial statements. In relation to the charity this included employment law, financial reporting and health & safety.
The risks were discussed with the audit team and we remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified. These included the following:
- We reviewed systems and procedures to identify potential areas of management override risk. In particular, we carried out testing of journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions to identify large or unusual transactions.
- We reviewed key authorisation procedures and decision-making processes for any unusual or one-off transactions.
- We reviewed minutes of Trustee Board meetings and agreed the financial statement disclosures to underlying supporting documentation.
- We have made enquiries of management and officers of the charitable company regarding laws and regulations applicable to the organisation.
Page 16
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (CONTINUED)**
- We reviewed the risk management processes and procedures in place including a review of the Risk Register and Board reporting in this regard.
- We have reviewed any correspondence with the Charity Commission and reviewed the procedures in place for the reporting of incidents to the Trustee Board including serious incident reporting of any such matters, if necessary.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
## **USE OF OUR REPORT**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
**Suzanne Goldsmith (Senior Statutory Auditor)** for and on behalf of **Price Bailey LLP** Chartered Accountants Statutory Auditors Cambridge Business Park Cambridge CB4 0WZ
Date:
Page 17
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023**
|**Note**
**INCOME FROM:**
Donations and grants
4
Charitable activities
5
Investments:
6
Property rent & hires
Bank interest
**TOTAL INCOME**
**EXPENDITURE ON:**
Raising funds:
7,8
Investment property
Other fundraising
Charitable activities:
9
Advice provision
Partner funding
**TOTAL EXPENDITURE**
**NET INCOME/(EXPENDITURE)**
**BEFORE NET (LOSSES) GAINS ON**
**INVESTMENTS**
Net (losses)/gains on investments
16
**NET INCOME/(EXPENDITURE)**
Transfers between funds
21
**NET MOVEMENT IN FUNDS**
**TOTAL FUNDS CARRIED FORWARD**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
Net movement in funds|**Restricted**
**funds**
**2023**
**£**
**1,113,787**
**65,340**
**-**
**-**|**Unrestricted**
**funds**
**2023**
**£**
**40,916**
**90,465**
**50,769**
**1,522**|**Total**
**funds**
**2023**
**£**
**1,154,703**
**155,805**
**50,769**
**1,522**|Total
funds
2022
£
805,557
110,732
24,171
294|
|---|---|---|---|---|
||**1,179,127**|**183,672**|**1,362,799**|940,754|
||**-**
**60,543**
**981,124**
**29,750**|**12,805**
**299**
**244,216**
**-**|**12,805**
**60,842**
**1,225,340**
**29,750**|11,418
51,291
890,198
29,750|
||**1,071,417**|**257,320**|**1,328,737**|982,657|
||**107,710**
**-**
**107,710**
**810**|**(73,648)**
**(59,000)**
**(132,648)**
**(810)**|**(34,062)**
**(59,000)**
**(24,938)**
**-**|(41,903)
7,000
(34,903)
-|
||**108,520**|**(133,458)**|**(24,938)**|(34,903)|
||**188,727**
**80,207**
**108,520**|**845,972**
**979,430**
**(133,458)**|**1,034,699**
**1,059,637**
**(24,938)**|1,059,637
1,094,540
(34,903)|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 22 to 49 form part of these financial statements.
Page 18
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee) REGISTERED NUMBER: 03191085**
## **BALANCE SHEET AS AT 31 MARCH 2023**
|Total unrestricted funds
21
**TOTAL FUNDS**
**FIXED ASSETS**
**Note**
Tangible assets
15
Investments
17
Investment property
16
**CURRENT ASSETS**
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within one
year
19
**NET CURRENT (LIABILITIES) / ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
Creditors: amounts falling due after more
than one year
20
**TOTAL NET ASSETS**
**CHARITY FUNDS**
Restricted funds
21
Unrestricted funds
Designated funds
21
General funds
21|**74,869**
**488,763**|**2023**
**£**
**573,937**
**500**
**715,000**|35,567
418,859|2022
£
578,021|
|---|---|---|---|---|
|||||500
774,000|
|||**1,289,437**
**(254,738)**
**1,034,699**
**-**||1,352,521
345,884|
||**563,632**
**(818,370)**||454,426
(108,542)||
||**815,000**
**30,972**||874,000
105,430||
|||||1,698,405
(638,768|
|||**1,034,699**||1,059,637|
|||**845,972**
**1,034,699**
**188,727**||979,430
80,207|
|||||1,059,637|
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
Page 19
**CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee) REGISTERED NUMBER: 03191085**
# **BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023**
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**Ms A P Jackson Chair**
**Mr A H Bridges Honorary Treasurer**
Date:
The notes on pages 22 to 49 form part of these financial statements.
Page 20
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023**
|**CASH FLOWS FROM OPERATING ACTIVITIES**
**Note**
Net cash used in operating activities
23
**CASH FLOWS FROM INVESTING ACTIVITIES**
Interest and rents from investments
Purchase of tangible fixed assets
**NET CASH PROVIDED BY INVESTING ACTIVITIES**
**CASH FLOWS FROM FINANCING ACTIVITIES**
Repayments of borrowing
Interest paid
**NET CASH USED IN FINANCING ACTIVITIES**
**CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR**
Cash and cash equivalents at the beginning of the year
**CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR**
24
The notes on pages 22 to 49 form part of these financial statements|**2023**
**£**
2022
£
**81,973**
(81,329)|
|---|---|
||**52,291**
24,465
**(17,389)**
-|
||**34,902**
**24,465**|
||**(24,368)**
(25,927)
**(22,603)**
(24,915)|
||**(46,971)**
**(50,842)**|
||**69,904**
**(107,706)**
**418,859**
526,565|
||**488,763**
418,859|
|||
Page 21
**CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. GENERAL INFORMATION**
The Charity is a company limited by guarantee incorporated in England and Wales and has no share capital. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. There are 18 members (2022: 21 members). The registered office address is 66 Devonshire Road, Cambridge CB1 2BL.
## **2. ACCOUNTING POLICIES**
## **2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Cambridge and District Citizens Advice Bureau 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.
## **2.2 GOING CONCERN**
The Trustees consider that there are no material uncertainties about Cambridge and District Citizens Advice Bureau’s ability to continue as a going concern despite the net current liabilities position of £254,738 which has occurred due to the reclassification of the loan as at 31 March 2023 to creditors due within one year. Since the year end Unity Bank have confirmed they will issue a reservation of rights and would only seek repayment if arrears were present. All payments are up to date and income and expenditure are being closely monitored on a monthly basis such that costs will be reduced if income is not sufficient to cover them and that restricted funding is closely monitored to ensure that budgets are met. Additionally, there is no unplanned expenditure from reserves. With regard the following year (and most years), the most significant areas of uncertainty are the level of grant funding which needs to be raised each and every year due to very few grants and contracts being agreed for more than 1 year.
## **2.3 FUND ACCOUNTING**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds are unrestricted funds of the Charity which the trustees have decided at their discretion to set aside to use for a specific purpose. The aim and purpose of each designated fund is set out in the notes to the financial statements.
Restricted funds are for Cambridge and District Citizens Advice Bureau’s work or projects being undertaken by the Charity. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each material designated and restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund.
Investment income, gains and losses are allocated to the appropriate fund.
Page 22
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.4 INCOME**
All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Where income has related expenditure (as with fundraising or contract income and partner funding), the income and related expenditure are reported gross in the Statement of Financial Activities.
## **2.4 INCOME (CONTINUED)**
Donations, grants and gifts are recognised when receivable. In the event that a grant is subject to fulfilling performance conditions before the Charity is entitled to the funds, the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year end are accounted for in income and accrued income in debtors.
Income received in advance for a future fundraising event or for a grant received relating to the following year are deferred until the criteria for income recognition are met.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Interest on deposit funds held is included when receivable and the amount can be measured reliably by the Charity which is normally upon notification of the interest paid or payable by the bank.
## **2.5 EXPENDITURE**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual’s basis under the following headings:
Costs of raising funds comprise fundraising costs incurred in seeking donations, grants and legacies. This includes staff time as well as additional support and event costs.
Investment property income and expenditure relates to the first-floor tenant accommodation and meeting room available for hire. An allocation based on floor area (36%), of premises and loan interest costs is charged to this as well as direct costs associated with external bookings and hires.
Expenditure on charitable activities includes the costs of providing specialist and generalist advice to clients, and the associated support costs.
Partner funding costs relate to those parts of an award due to a project partner. In those cases, the bureau is the lead grantee.
Support costs comprise those costs which are incurred directly in support of expenditure on the objects of the Charity and include governance cost, finance, and office costs. Governance costs are those costs incurred in connection with the compliance with constitutional and statutory requirements of the Charity. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Support costs are allocated to each of the activities on one of the following bases: either floor space or staff time or staff headcount depending on the nature of the support costs, to best allocate the costs to each attributable heading.
## **2.6 VOLUNTEERS**
The value of the services provided by volunteers is not incorporated into these financial statements.
Page 23
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.7 TANGIBLE FIXED ASSETS AND DEPRECIATION**
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
|Freehold property|- 2% on cost|
|---|---|
|Fixtures and fittings|- 20% on cost and 20% on reducing balance|
|Payments on account of fixed|- not provided|
|assets||
|Computer equipment|- 20% on cost|
## **2.8 INVESTMENTS PROPERTY**
Investment property is shown at most recent valuation and re-evaluated by trustees at year end and is stated at its fair value. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.
The investment property was valued by Kate Proctor (RICS registered valuer) of Carter Jonas, 1 Station Square, Cambridge CB1 2GA on a fair value basis as at 15th May 2023.
## **2.9 OPERATING LEASES**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straightline basis over the lease term.
## **2.10 CASH AT BANK AND IN HAND**
Cash at bank and 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.
## **2.11 DEBTORS**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable are included at the best estimate of the amounts receivable at the balance sheet date.
Page 24
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.12 LIABILITIES AND PROVISIONS**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.13 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 are valued at depreciated cost and investments at fair value which is market value.
## **2.14 PENSIONS**
The Charity contributes to employees' personal pension schemes (defined contribution scheme). Contributions are charged to the Statement of Financial Activities in the period to which they relate.
## **2.15 TAXATION**
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 25
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT**
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
## **Valuation of investment property (66 Devonshire Road)**
The valuation of the investment property is affected by many assumptions, including rental expectations and interest rates. Please see note 16 for further details.
## **4. INCOME FROM DONATIONS AND GRANTS**
|General donations
Batterson-Chivers Foundation
Chadwyck-Healey Trust
Cambridgeshire Community Fund
Pye Foundation
Patron & Staff Fundraising Events
**Total donations and charitable trusts**
Grants|**Restricted**
**funds**
**2023**
**£**
-
-
-
3,800
-
-|
**Unrestricted**
**funds**
**2023**
**£**
10,350
2,500
20,000
-
6,000
1,890|**Total**
**funds**
**2023**
**£**
**10,350**
**2,500**
**20,000**
**3,800**
**6,000**
**1,890**|
|---|---|---|---|
||3,800|40,740|**44,540**|
||1,109,987|176|**1,110,163**|
||1,113,787|40,916|**1,154,703**|
Page 26
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **4. INCOME FROM DONATIONS AND GRANTS (CONTINUED)**
|General donations
Batterson-Chivers Foundation
Chadwyck-Healey Trust
Pye Foundation
Patron & Staff Fundraising Events
**Total donations and charitable trusts**
Grants|Restricted
funds
2022
£
-
-
-
-
-
-
747,771
747,771|Unrestricted
funds
2022
£
13,708
2,000
20,000
6,000
15,634
57,342
444
57,786|Total
funds
2022
£
13,708
2,000
20,000
6,000
15,634|
|---|---|---|---|
||||57,342|
||||748,215|
||||805,557|
Included in grants above is £465,000 from local authorities (2022: £415,000). Funding from South Cambridgeshire District Council includes £29,750 paid out to other bureaux for partner projects (2022: £29,750).
## **5. INCOME FROM CHARITABLE ACTIVITIES**
|Contracts|**Restricted**
**funds**
**2023**
**£**
65,340
65,340|**Unrestricted**
**funds**
**2023**
**£**
90,465
90,465|**Total**
**funds**
**2023**
**£**
**155,805**|
|---|---|---|---|
||||**155,805**|
Page 27
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **5. INCOME FROM CHARITABLE ACTIVITIES (CONTINUED)**
|Contracts
Casework training and consultancy|Restricted
funds
2022
£
Unrestricted
funds
2022
£
61,785
45,002
-
3,945
61,785
48,947|Total
funds
2022
£
106,787
3,945|
|---|---|---|
|||110,732|
||||
## **6. INVESTMENT INCOME**
|Rental income
Bank interest
Rental income
Bank interest|**Unrestricted**
**funds**
**2023**
**£**
50,769
1,522
52,291
Unrestricted
funds
2022
£
24,171
294
24,465|**Total**
**funds**
**2023**
**£**
**50,769**
**1,522**|
|---|---|---|
|||**52,291**|
|||Totall
funds
2022
£
24,171
294|
|||24,465|
Page 28
**CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **7. EXPENDITURE ON RAISING FUNDS**
## **COSTS OF RAISING VOLUNTARY INCOME**
|Other fundraising costs
Fundraising staff costs
Other fundraising costs
Fundraising staff costs|**Restricted**
**funds**
**2023**
**£**
-
60,543
60,543
Restricted
funds
2022
£
-
49,356
49,356|**Unrestricted**
**funds**
**2023**
**£**
299
-
299
Unrestricted
funds
2022
£
1,460
475
1,935|**Total**
**funds**
**2023**
**£**
299
60,543|
|---|---|---|---|
||||60,842|
||||Total
funds
2022
£
1,460
49,831|
||||51,291|
## **8. INVESTMENT MANAGEMENT COSTS**
|Premises costs
Loan interest costs|**Unrestricted**
**funds**
**2023**
**£**
2,393
10,412
12,805|**Total**
**funds**
**2023**
**£**
**2,393**
**10,412**|
|---|---|---|
|||**12,805**|
Page 29
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **8. INVESTMENT MANAGEMENT COSTS (CONTINUED)**
|Premises costs
Loan interest costs
|Unrestricted
funds
2022
£
2,449
8,969
11,418|Total
funds
2022
£
2,449
8,969
11,418|
|---|---|---|
## **9. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES**
## **Summary by fund type**
|Advice provision
Partner costs
Advice provision
Partner costs|**Restricted Unrestricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
981,124
244,216
29,750
-
1,010,874
244,216
Restricted
Unrestricted
funds
funds
2022
2022
£
£
747,085
143,113
29,750
-
776,835
143,113|**Total**
**2023**
**£**
**1,225,340**
**29,750**|
|---|---|---|
|||**1,255,090**|
|||Total
2022
£
890,198
29,750|
|||919,948|
Page 30
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **10. ANALYSIS OF EXPENDITURE BY ACTIVITIES**
|Advice provision
Partner costs|**Activities**
**undertaken**
**directly**
**2023**
**£**
883,722
29,750
913,472|**Grant**
**funding of**
**activities**
**2023**
**£**
1,601
-
1,601|**Support**
**costs**
**2023**
**£**
340,017
-
340,017|**Total**
**funds**
**2023**
**£**
**1,225,340**
**29,750**|
|---|---|---|---|---|
|||||**1,255,090**|
||||||
|Advice provision
Partner costs|Activities
undertaken
directly
2022
£
654,487
29,750
684,237|Support
costs
2022
£
235,711
-
235,711|Total
funds
2022
£
890,198
29,750|
|---|---|---|---|
||||919,948|
Included above is £29,750 paid out to other partner bureaux for partner projects
## **ANALYSIS OF DIRECT COSTS**
|Staff costs
Staff travel & training
Volunteer travel & training
Project costs
Marketing costs|**Advice **
**provision**
**2023**
**£**
859,325
21,159
2,445
130
663
883,722|**Partner**
**costs**
**2023**
**£**
-
-
-
29,750
-
29,750|**Total**
**funds**
**2023**
**£**
**859,325**
**21,159**
**2,445**
**29,880**
**663**|
|---|---|---|---|
||||**913,472**|
Page 31
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **10. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)**
## **ANALYSIS OF DIRECT COSTS (continued)**
Partner costs relate to joint projects where the bureau was the lead for a group of organisations. Funding received was paid out directly to partners for their own project costs. £29,750 received from South Cambridgeshire District Council went to South Cambridgeshire District Council went to Citizens Advice North Herts (£17,850), Citizens Advice Suffolk West (£5,950) and Citizens Advice Uttlesford (£5,950).
|Staff costs
Staff travel & training
Volunteer travel & training
Project costs
Marketing costs|Advice
provision Partner costs
2022
2022
£
£
634,504
-
14,978
-
1,007
-
1,042
29,750
2,956
-
654,487
29,750|Total
funds
2022
£
634,504
14,978
1,007
30,792
2,956|
|---|---|---|
|||684,237|
Partner costs relate to joint projects where the bureau was the lead for a group of organisations. Funding received was paid out directly to partners for their own project costs. £29,750 received from South Cambridgeshire District Council went to Citizens Advice North Herts (£17,850), Citizens Advice Suffolk West (£5,950) and Citizens Advice Uttlesford (£5,950).
Page 32
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **10. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)**
## **ANALYSIS OF SUPPORT COSTS**
|Staff costs
Training, travel & recruitment
Office administration
Premises costs
Audit (governance)
Legal and professional fees
Payroll and accounting fee
AGM (governance)
Bank charges
Irrecoverable VAT
Staff costs
Training, travel & recruitment
Office administration
Premises costs
Audit (governance)
Legal and professional fees
Payroll and accounting fee
AGM (governance)
Bank charges
Irrecoverable VAT|**Advice**
**provision**
**2023**
**£**
132,299
6,512
62,366
94,824
10,666
3,369
9,072
919
705
19,285
340,017
Advice
provision
2022
£
79,316
11,308
51,725
65,636
7,040
261
3,370
471
595
15,989
235,711|**Total**
**funds**
**2023**
**£**
**132,299**
**6,512**
**62,366**
**94,824**
**10,666**
**3,369**
**9,072**
**919**
**705**
**19,285**|
|---|---|---|
|||**340,017**|
|||Total
funds
2022
£
79,316
11,308
51,725
65,636
7,040
261
3,370
471
595
15,989|
|||235,711|
Page 33
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **11. ANALYSIS OF GRANTS**
||||**Grants to**|**Total**|Total|
|---|---|---|---|---|---|
||||**Individuals**|**funds**|funds|
||||**2023**|**2023**|2022|
||||**£**|**£**|£|
|Cambridge|Community|Fund: Surviving Winter|1,601|**1,601**|-|
## **12. AUDITORS' REMUNERATION**
||**2023**|2022|
|---|---|---|
||**£**|£|
|Fees payable to the Charity's auditor for the audit of the Charity's annual|||
|accounts|**8,950**|7,040|
## **13. STAFF COSTS**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2023**
**£**
2022
£
**913,107**
669,344
**76,685**
44,580
**62,375**
49,727
**1,052,167**
763,651|
|---|---|
The average number of persons employed by the Charity during the year was as follows:
|Chief Executive
Advisers and specialists
Administration and support
Project staff|**2023**
**No.**
**1**
**11**
**8**
**17**
**37**|2022
No.
1
10
4
9|
|---|---|---|
|||24|
Page 34
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **13. STAFF COSTS (CONTINUED)**
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel include the Trustees, Chief Executive Officer, Deputy Chief Executive Officer, Specialist Team Development Manager, IT & Admin Leader and Finance Manager. Total remuneration (including employer's national insurance and employer's pension contributions) paid to key management personnel amounted to £234,691 (2022: £189,787).
In addition, the Charity has the use of highly trained and professional volunteers. 50 (2022: 87) gave over time valued at £294,000 (2022: £485,321). This cost has not been recognised in the accounts.
## **14. TRUSTEES' REMUNERATION AND EXPENSES**
During the year, no Trustees received any remuneration or other benefits (2022: £NIL).
During the year ended 31 March 2023, expenses totalling £1,079 were reimbursed or paid directly to 5 Trustees in respect of meeting expenses and small gifts. In the prior year, £456 expenses were paid directly in respect of meeting expenses.
Page 35
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **15. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2022
Additions
Disposals
At 31 March 2023
**DEPRECIATION**
At 1 April 2022
Charge for the year
On disposals
At 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022|**Freehold**
**property**
**£**
**741,770**
**-**
**-**
**741,770**
**170,148**
**14,835**
**-**
**184,983**
**556,787**
571,622|**Fixtures and**
**fittings**
**£**
**142,389**
**17,389**
**-**
**159,778**
**136,258**
**6,370**
**-**
**142,628**
**17,150**
6,131|**Computer**
**equipment**
**Total**
**£**
**£**
**149,517**
**1,033,676**
**-**
**17,389**
**(139,399)**
**(139,399)**|
|---|---|---|---|
||||**10,118**
**911,666**|
||||**149,249**
**455,655**
**268**
**21,473**
**(139,399)**
**(139,399)**|
||||**10,118**
**337,729**|
|||||
||||**-**
**573,937**|
||||268
578,021|
The freehold property is pledged as security for the mortgage loan disclosed in notes 19 and 20.
## **16. INVESTMENT PROPERTY**
|**VALUATION**
At 1 April 2022
Unrealised loss on revaluation
At 31 March 2023|**Freehold**
**investment**
**property**
**£**
**774,000**
**(59,000)**
**715,000**|
|---|---|
Investment property comprises the let part of 66 Devonshire Road, Cambridge.
Page 36
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **16. INVESTMENT PROPERTY (CONTINUED)**
The property has been valued by the Trustees with the assistance of Kate Proctor (RICS Registered Valuer) of Carter Jonas, 1 Stations Square, Cambridge CB1 2GA on a fair value basis as at 31 March 2023. The significant assumptions include interest rates and achievable rental income.
The historical cost of the investment property is £570,000 (2022: £570,000)
## **17. FIXED ASSET INVESTMENTS**
|**COST**
At 1 April 2022
AT 31 MARCH 2023
Unlisted investments comprise 500 ordinary £1 shares in Allia Limited.|**Unlisted**
**investments**
**£**
**500**|
|---|---|
||**500**|
|||
## **18. DEBTORS**
|**DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments and accrued income|**2023**
**£**
**60,524**
**1,333**
**13,012**
**74,869**|2022
£
13,586
2,112
19,869|
|---|---|---|
|||35,567|
## **19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**2023**
**£**
**667,510**
**13,554**
**36,180**
**9,565**
**91,561**
**818,370**|2022
£
53,110
17,780
19,805
3,233
14,614|
|---|---|---|
|||108,542|
Page 37
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (CONTINUED)**
||**2023**|2022|
|---|---|---|
||**£**|£|
||**2023**|2022|
||**£**|£|
|Deferred income at 1 April 2022|**6,542**|54,562|
|Resources deferred during the year|**79,359**|6,542|
|Amounts released from previous periods|**(6,542)**|(54,562)|
|**Deferred income at 31 March 2023**|**79,359**|6,542|
|Deferred income relates to income billed in advance of the year.|||
|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**|||
||**2023**|2022|
||**£**|£|
|Bank loans|**-**|638,768|
|Included within the above are amounts falling due as follows:|||
||**2023**|2022|
||**£**|£|
|**BETWEEN ONE AND TWO YEARS**|||
|Bank loans|**-**|53,178|
|**BETWEEN TWO AND FIVE YEARS**|||
|Bank loans|**-**|159,533|
|**OVER FIVE YEARS**|||
|Bank loans|**-**|426,057|
|The aggregate amount of liabilities payable or repayable wholly or in part more|than five years|after the|
|reporting date is:|||
||**2023**|2022|
||**£**|£|
|Payable or repayable by instalments|**547,968**|426,057|
||**547,968**|426,057|
## **20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Page 38
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR (CONTINUED)**
In accordance with FRS102, the Unity Bank loan due within more than one year was reclassified to creditors due within one year at the year end date due to a breach in loan covenants. However since the year end Unity Bank have confirmed they will issue a reservation of rights and would only seek repayment if arrears were present.
The loan is secured against the property on Devonshire Road and is repayable over 25 years, and commenced in July 2014. It was refinanced at that date from a loan from the Social Investment Business.
The mortgage is secured by a fixed charge over the property at 66 Devonshire Road, Cambridge. Repayments of capital and interest are made on a monthly basis. Interest is payable at 3.75% per annum (3.1% in previous year) calculated on a daily basis.
The carrying value of the assets secured in the accounts is £1,271,787 (2022: £1,345,521).
Page 39
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **21. STATEMENT OF FUNDS**
## **STATEMENT OF FUNDS - CURRENT YEAR**
|**UNRESTRICTED**
**FUNDS**
**DESIGNATED**
**FUNDS**
66 Devonshire
Road
Revaluation
Reserve
Development
Reserve
Building
Maintenance
**GENERAL FUNDS**
General Fund
**TOTAL**
**UNRESTRICTED**
**FUNDS**|**Balance at 1**
**April 2022**
**Income Expenditure**
**Transfers**
**in/out**
**Gains/**
**(Losses)**
**Balance at**
**31 March**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
**570,000**
**50,769**
**(12,805)**
**(37,964)**
**-**
**570,000**
**204,000**
**-**
**-**
**-**
**(59,000)**
**145,000**
**80,000**
**-**
**-**
**-**
**-**
**80,000**
**20,000**
**-**
**-**
**-**
**-**
**20,000**
**874,000**
**50,769**
**(12,805)**
**(37,964)**
**(59,000)**
**815,000**
**105,430**
**132,903**
**(244,515)**
**37,154**
**-**
**30,972**
**979,430**
**183,672**
**(257,320)**
**(810)**
**(59,000)**
**845,972**|**Balance at 1**
**April 2022**
**Income Expenditure**
**Transfers**
**in/out**
**Gains/**
**(Losses)**
**Balance at**
**31 March**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
**570,000**
**50,769**
**(12,805)**
**(37,964)**
**-**
**570,000**
**204,000**
**-**
**-**
**-**
**(59,000)**
**145,000**
**80,000**
**-**
**-**
**-**
**-**
**80,000**
**20,000**
**-**
**-**
**-**
**-**
**20,000**
**874,000**
**50,769**
**(12,805)**
**(37,964)**
**(59,000)**
**815,000**
**105,430**
**132,903**
**(244,515)**
**37,154**
**-**
**30,972**
**979,430**
**183,672**
**(257,320)**
**(810)**
**(59,000)**
**845,972**|
|---|---|---|
||||
||
||
|||**105,430**
**132,903**
**(244,515)**
**37,154**
**-**
**30,972**|
|||**979,430**
**183,672**
**(257,320)**
**(810)**
**(59,000)**
**845,972**|
Page 40
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **21. STATEMENT OF FUNDS (CONTINUED)**
## **STATEMENT OF FUNDS - CURRENT YEAR**
||||||||**Balance at**|
|---|---|---|---|---|---|---|---|
|**Balance at 1**||||**Transfers**|**Gains/**||**31 March**|
||**April 2022**|**Income **|**Expenditure**|**in/out**|**(Losses)**||**2023**|
||**£**|**£**|**£**|**£**|**£**||**£**|
|**RESTRICTED**||||||||
|**FUNDS**||||||||
|Big lottery|**7,057**|**-**|
**(7,222)**|**165**|**-**||**-**|
|National lottery -|**-**|**-**||||**-**|**-**|
|Coronavirus||||||||
|Community|**1,000**|**-**|
**(98)**|**98**||**-**|**1,000**|
|Support Fund||||||||
|Cambridge City|**2,758**|**419,251**|
**(323,482)**|**547**||**-**|**99,074**|
|Council||||||||
|Citizens advice|**7,850**|**644,986**|
**(631,123)**|**-**||**-**|**21,713**|
|GCP Investment in|**60,130**|**-**|
**(1,608)**|**-**||**-**|**58,522**|
|Communities||||||||
|John Huntingdon|**-**|**17,569**|
**(17,443)**|**-**||**-**|**126**|
|Charity||||||||
|South|**-**|**93,520**|
**(88,841)**|**-**||**-**|**4,679**|
|Cambridgeshire||||||||
|District Council||||||||
|Cambridge Housing|**877**|**-**|
**-**|**-**||**-**|**877**|
|Society – Winter||||||||
|Support||||||||
|Cambridge|**535**|**3,801**|
**(1,600)**|**-**||**-**|**2,736**|
|Community Fund||||||||
||**80,207**|**1,179,127**|
**(1,071,417)**|**810**||**-**|**188,727**|
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
**21. STATEMENT OF FUNDS (CONTINUED)**
Page 41
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF FUNDS - PRIOR YEAR**
||||||||||**Balance at**|
|---|---|---|---|---|---|---|---|---|---|
|**Balance at 1**||||**Transfers**||**Gains/**|||**31 March**|
||**April 2022**|**Income **|**Expenditure**|**in/out**||**(Losses)**|||**2023**|
||**£**|**£**|**£**|**£**||**£**|||**£**|
|**UNRESTRICTED**||||||||||
|**FUNDS**||||||||||
|**DESIGNATED**||||||||||
|**FUNDS**||||||||||
|66 Devonshire||||||||||
|Road|**570,000**|**24,171**|**(27,114)**|**2,943**||**-**|||**570,000**|
||||-|||||||
|Revaluation||||||||||
|Reserve|**197,000**
|**7,000**|**-**|**-**||**-**|||**204,000**|
|Development||||||||||
|Reserve|**80,000**|**-**|**-**|**-**||**-**|||**80,000**|
|Building||||||||||
|Maintenance|**20,000**|**-**|**-**|**-**||**-**|||**20,000**|
|**GENERAL FUNDS**|**867,000**
|**31,171**|**(27,114)**|**2943**|||**-**||**874,000**|
|General fund|**130,698**|**107,027**|**(129,352)**|**(2,943)**||**-**|||**105,430**|
|**TOTAL**||||||||||
|**UNRESTRICTED**|**997,698**|**138,198**|
**(156,466)**||**-**|||**-**|**979,430**|
|**FUNDS**||||||||||
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
**21. STATEMENT OF FUNDS (CONTINUED)**
Page 42
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
|**RESTRICTED FUNDS**
Big lottery
National Lottery - Coronavirus
Community Support Fund
Cambridge City Council
Citizens advice
GCP Investment in
Communities
John Huntingdon Charity
South Cambridgeshie District
Council
Cambridge Housing Society -
Winter Support
Cambridge Community Fund
**TOTAL FUNDS**|18,768
1,000
3,011
11,820
61,708
-
-
-
535
Balance at
1 April 2021
£|18,768
1,000
3,011
11,820
61,708
-
-
-
535
Balance at
1 April 2021
£|8,749
(20,460)
-
7,057
-
-
-
1,000
369,251
(369,504)
-
2,758
337,753
(341,723)
-
7,850
-
(1,578)
-
60,130
14,014
(14,014)
-
-
93,520
(93,520)
-
-
1,000
(123)
-
877
-
-
-
535
Income
Expenditure
Transfers
in/out
Balance at
31 March
2022
£
£
£
£|
|---|---|---|---|
||96,842||824,287
(840,922)
-
80,207|
||1,094.540||-
(997,388)
-
1,059,637|
-
Page 43
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **21. STATEMENT OF FUNDS (CONTINUED)**
## **Restricted funds**
## **Big Lottery Advice Plus**
All funding has been spent and the closing balance consists only of undepreciated fixed assets purchased within the funding.
## **Big Lottery Advice Plus**
All funding has been spent on this fund.
## **Big Lottery Help through Crisis**
Five-year fund to support individuals and key agencies via crisis casework and advocacy.
## **National Lottery Coronavirus Community Support Fund**
To provide crisis information and advice to local people impacted by the Coronavirus pandemic.
## **Cambridge City Council - Core Funding**
To deliver core CAB services to the people of Cambridge.
## **Cambridge City Council - Income Maximisation**
Funding to provide income maximisation advice to Cambridgeshire residents who are over 18.
## **Cambridge City Council – Specialist Welfare Rights**
To provide casework service 5 days a week including benefits appeals and representation, training and updates to external agencies.
## **Cambridge City Council - Financial Capability**
To support the training of groups and individuals to help them better understand how to manage their money.
## **Cambridge City Council – Homelessness Prevention**
Specialist independent support, advice and representation around housing and debt issues.
**Cambridge City Council – Personal Budgeting Support**
Money management advice to people receiving Universal Credit.
## **Cambridge City Council - One-off funding**
Funding to support the provision of touch screen kiosks in the City. All funding has been spent.
## **Carbon Monoxide Advice Project (CMAP)**
To support the provision of one-to-one carbon monoxide awareness and energy advice.
## **Citizens Advice - Energy Advice Programme**
Funding to deliver 1:1 advice on energy awareness and savings.
## **Citizens Advice – Help to Claim**
Funding to provide advice to clients on the Universal Credit scheme.
## **Citizens Advice – BEIS Remote Working Equipment**
To fund the purchase of laptops and headsets for use by advisor staff and volunteers working remotely. Funding comes via Citizens Advice from the Department of Business, Energy and Industrial Strategy.
Page 44
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **21. STATEMENT OF FUNDS (CONTINUED)**
## **Citizens Advice – BEIS Softphones**
To enable the service to increase capacity to respond to the immediate demand for advice arising from Covid-19 in a cost-effective manner. Funding comes via Citizens Advice from the Department of Business, Energy and Industrial Strategy.
## **Citizens Advice – Money and Pensions Service (MAPS)**
To increase debt advice capacity by funding a full-time debt advisor.
## **Citizens Advice – Trussell Trust Foodbank Service**
Funding provided from Trussell Trust via Citizens Advice to provide telephone helpline advice to foodbank clients or potential clients.
## **Greater Cambridge Partnership - Investing in Communities**
Finance for capital funding towards the ICT investment of the Advicehub project. All funding has been spent and the closing balance consists only of undepreciated fixed assets purchased with the funding.
## **John Huntingdon Charity, Sawston**
Providing specialist debt casework for the residents of Sawston and the surrounding areas.
## **South Cambridgeshire District Council Core Funding**
Grant to deliver core CAB services to the people of South Cambridgeshire.
## **South Cambridgeshire District Council – Housing Debt Advice**
To provide debt advice to local residents in the Cambourne area.
## **Cambridge Housing Society Winter Fund**
To deliver grants to individuals in need on behalf of Cambridgshire County Council.
## **Cambridgeshire Community Fund**
£1,000 Winter Appeal to provide emergency fuel payments to individuals.
## **Designated funds**
## **The 66 Devonshire Road Fund**
Together with the Revaluation Reserve, these funds constitute the net value of the investment part of the building owned by the Bureau. As the fund solely reflects the value of the building, it is not considered to be a liquid asset, though sale of this asset would be expected to cover the outstanding loan through which the Bureau purchased the building.
## **The Revaluation Reserve**
Made up of the accumulated gain on value of the property at 66 Devonshire Road.
## **The Development Fund**
Created from donations from foundations. This is being held to prepare for expenditure on projects where the bureau requires to match-fund contributions from other organisations or donors.
## **The Building Maintenance Fund**
Created to set aside essential upgrade and replacement of building infrastructure.
Page 45
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **22. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR**
|Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
**TOTAL**|**Restricted**
**funds**
**2023**
**£**
**Unrestricted**
**funds**
**2023**
**£**
**Total**
**funds**
**2023**
**£**
65,827
508,110
**573,937**
-
500
**500**
-
715,000
**715,000**
122,900
440,732
**563,632**
-
(818,370)
**(818,370)**
-
-
**-**|
|---|---|
||188,727
845,972
1,034,699|
## **ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR**
|Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
**TOTAL**|Restricted
funds
2022
£
Unrestricted
funds
2022
£
Total
funds
2022
£
50,325
527,696
578,021
-
500
500
-
774,000
774,000
29,882
424,544
454,426
-
(108,542)
(108,542)
-
(638,768)
(638,768)
80,207
979,430
1,059,637|
|---|---|
Page 46
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **23. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|Net expenditure for the year (as per Statement of Financial Activities)
**ADJUSTMENTS FOR:**
Depreciation charges
Losses/(gains) on investments
Dividends, interests and rents from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Interest paid
**NET CASH PROVIDED BY/ (USED IN) OPERATING ACTIVITIES**|**2023**
**£**
2022
£
**(24,938)**
(34,903)|
|---|---|
||**21,473**
17,178
**59,000**
(7,000)
**(52,291)**
(24,465)
**(38,652)**
2,127
**94,778**
(59,181)
**22,603**
24,915|
||**81,973**
(81,329)|
## **24. ANALYSIS OF CASH AND CASH EQUIVALENTS**
|Cash in hand
**TOTAL CASH AND CASH EQUIVALENTS**||**2023**
**£**
2022
£
**488,763**
418,859|
|---|---|---|
|||**488,763**
418,859|
|||**94,272**
(178,747)|
Page 47
**(A Company Limited by Guarantee)**
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **25. ANALYSIS OF CHANGES IN NET DEBT**
|Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year|At 1 April
2022
Cash
flows
Other
movements
At 31 March
2023
418,859 69,904
- 488,763
(53,110) 33,352
(647,752) (667,510)
(638,768) (8,984)
647,752
-|
|---|---|
||273,019
94,272
-
(178,787)|
## **26. CONTINGENT LIABILITIES**
There is a potential VAT liability under the Capital Goods Scheme, due over the next 3 years estimated at a present value of £7,000 (2022: £7,000). This has arisen due to the level of taxable supplies falling in comparison to those levels made when the Devonshire Road building project was being undertaken.
## **27. PENSION COMMITMENTS**
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £62,375 (2022: £49,727). At the yearend, £7,217 (2022: 94) was due to the pension scheme.
## **28. OPERATING LEASE COMMITMENTS**
At 31 March 2023 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
|**Equipment**
Not later than 1 year
Later than 1 year and not later than 5 years|**2023**
**£**
**8,101**
**12,947**
**21,048**|2022
£
10,576
22,390
32,966|
|---|---|---|
The following lease payments have been recognised as an expense in the Statement of Financial Activities:
|Activities:|||
|---|---|---|
||**2023**|2022|
||**£**|£|
|Operating lease rentals|**10,576**|11,300|
The Charity was committed to receive the following amount under licence to occupy agreements.
Page 48
## **CAMBRIDGE AND DISTRICT CITIZENS ADVICE BUREAU**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **28. OPERATING LEASE COMMITMENTS (CONTINUED)**
|**OPERATING LEASE COMMITMENTS (CONTINUED)**|||
|---|---|---|
|**Lessor**
Not later than 1 year|**2023**
**£**
**15,179**
**15,179**|2022
£
42,763|
|||42,763|
## **29. RELATED PARTY TRANSACTIONS**
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2023 (prior year: nothing to disclose).
Page 49