REGISTERED COMPANY NUMBER: 3242709(England and Wales) REGISTERED CHARITY NUMBER: 1058302
Report of the Trustees and Financial Statements for The Year Ended 31 March 2024 Ashford Borough Citizens Advice
ASHFORD BOROUGH CITIZENS ADVICE
Contents of the Financial Statements for the Year Ended 31 March 2024
Page
| Legal and Administrative Information | 3 |
|---|---|
| Report ofthe Trustees | 4-6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Statement of Cashflows | 10 |
| NotestotheFinancialStatements | 11-20 |
ASHFORD BOROUGH CITIZENS ADVICE
Legal and Administrative Information
Registered Company Number
3242709 (England and Wales)
Registered Charity Number 1058302
Registered Office Seabrooke House Church Road Ashford Kent TN23 1RD
Trustees
E Birchmore
A Hicks
S M Khan
DAG Thom
M Ciccone (Resigned: 22/02/2024)
B Fox
D Palmer
Company Secretary
M Self
Independent Examiner Thomas Ojo
PPS Accountants 11 Farnes Court Worksop, Nottinghamshire $81 OLZ
Bankers
National Westminster Bank Plc 20 High Street Ashford Kent TN24
Page 3
ASHFORD BOROUGH CITIZENS ADVICE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their report and examined financial statements of the charity for the year ended 31 March 2024 The Trustees have adopted the provisions of the statement of Recommended practice (SORP) "Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published on 16 July 2014, as amended by Bulletin 1.
Objectives and Activities
The Charity's objects are to promote any charitable purpose for the public benefit by the advancement of education, the protection and preservation of health, and the relief of poverty, sickness and distress in particular but without limitation for the benefit of the community in Ashford borough and surrounding areas. The Bureau provides an independent and confidential information, advice and support service to citizens of all ages and backgrounds on a wide range of issues ranging from debt, benefits, employment, consumer, relationships, legal, housing and many others. The charity help citizens deal with their problems by providing information that enables them to make the right decisions for themselves.
Structure, Governance and Management
The charity, which is registered with the Charity Commission under number 1058302, is established under its Memorandum and Articles of Association dated 28 August 1996, as amended 12 July 2000, 28 March 2002 and 13 October 2004.
The Trustees are responsible for the governance and management of the charity but the day to day running of the charity is delegated to a management committee. The management committee annually elects its own chair and vice chair. The management committee consist of the officers of the charity (chair, vice chair, honorary treasurer) and not more than five persons. The management committee includes all trustees plus a representative from Ashfori Borough Council, Cllr. Liz Wright. The chair or vice chair can only serve for a maximum of six consecutive years in th respective offices and no person, other than the honorary treasurer can serve on the management committee for more than six consecutive years, but can return to the committee after a break of two years. The management committee must meet at least three times a year. Trustees are appointed by a current member of the board and then seconded by another member of the board following the guidelines set out under the membership of Advice UK.
Public Benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities. The Trustees can confirm that the activities and services of the charity are open to everyone within the neighbourhood where it operates.
Page 4
ASHFORD BOROUGH CITIZENS ADVICE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Achievements and Performance in the year
As with most voluntary organisations the last year proved to be one of great change and challenge. Throughout 2023 we were faced with the impact that the financial situation had on the residents of Ashford. Increases in rent /mortgage payments and food prices, together with housing problems and energy costs, led to a significant rise in demand for our services. We have noted a huge increase in relationships issues related to the cost of living pressures on families. Increasing numbers of clients attended our offices for face to face support, or accessed our service by telephone, email or online.
In 2023 our services have been supported by grants and additional funding from Ashford Borough Council and The Seabrooke Trust. The ‘Friends of ACAB’ have recommenced fundraising and we are extremely grateful for this continued support for our work. Last year our Specialist Advisers generated over £2.5k from the services they delivered to further support our advice service.
However, we are facing severe financial constraints as funding budgets come under continued pressure. The coming year will be one of severe challenge for us in our efforts to continue to provide our valuable advice service.
Financial Review
During the year income amounted to £244,501 (2023: £214,015). Expenditure amounted to £256,429 (2023: £232,130). At 31 March 2024 total funds amounted to £310,007 (2023: £321,935).
Reserves Policy
The Trustees consider it appropriate to hold unrestricted reserves equivalent to six months operating expenditure which would be in the region of £128,215 (2023: £116,065). At 31 March 2024 general unrestricted funds amounted to £236,7925 (2023: £247,975).
Restricted funds amount to E£Nil (2023 0) and relate to funds received for specific projects as detailed in note 13. Designated funds amount to £73,215 (2023: £73,960) and relate to funds set aside by the Trustees for specific projects as detailed in note 12.
The strategic review of reserves policy is on going to include protected forward planning of services, development, costs and funding. The need for employing specialists in areas as yet not covered by bureau services e.g. employment, welfare benefits and housing is considered a priority by the Trustees. The ability of the Bureau to offer these services to the community at a high level will be of benefit to all and will place the Bureau in a strong and robust position to manage the impact of the forthcoming changes to the Government Welfare Reform programme. A sum of money will be kept in reserve for protection against future uncertainties.
Page 5
ASHFORD BOROUGH CITIZENS ADVICE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Risk Management
The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable the charity to lessen or mitigate those risks.
The main risks the charity faces and what actions the Trustees have taken to mitigate these:
Projects have a material negative impact on the financial stability of the bureau due to withdrawal of funding and or ability to meet funder requirements
Fundraising strategy in place with defined objectives, including a strategy for reaching those in greatest need. Appropriate balance between funding base and core service and funding for projects. Diverse and sustainable funding base and a fundraising culture.
Bureau fails to reach organisational or quality of advice or other standards.
Quality assurance mechanisms in place and effective. Client satisfaction, professional conduct and customer care are high.
Future Plans and Projects
(A) To Maintain the fabric of Seabrooke House to an acceptable level, especially regarding Health and Safety regulations
(B) To be aware of suitable funding opportunities which will enhance our work of guiding and assisting members of the public in the increasing complex changes that are taking place.
(C) To continue to be vigilant of Government changes that could impact on Ashford Borough Citizens Advice and its services.
(D) To ensure that all staff are trained to the level of compliance set by Advice UK Membership Rules.
(E) To continue to have dialogue with other organizations with the view to enhance our own services and procedures (F) To continue to review salary levels on an annual basis.
Signed on behalf of the board:
MM bby
Aline Hicks
Chair
Date: 2 /o¢ >
Page 6
ASHFORD BOROUGH CITIZENS ADVICE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ASHFORD BOROUGH CAB
I report to the Trustees on the accounts of the charity for the year ended 31 March 2024 set out on pages 8 to 20.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Certified Public Accountants Association, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act, or The accounts do not accord with those records; or
The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Thofas Ojo (BA,BSc,FCPA) PPS Accountants
11 Farnes Court Worksop Nottinghamshire $81 OLZ
Date: ¥ [9 At24
Page 7
ASHFORD BOROUGH CITIZENS ADVICE
Statement of Financial Activities (incorporating the Income and Expenditure Account) for the Year Ended 31 March 2024
| 2024 | 2023 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | |||||
| £ | £ | £ | £ | |||||
| Income and Endowments From: | ||||||||
| Donations and Legacies | 70,612 | 49,539 | 120,151 | 92,586 | ||||
| Charitable activities | 2 | 100,000 | 20,000 | 120,000 | 120,000 | |||
| Investments | 4,350 | 2 | 4,350 | 1,429 | ||||
| Corona virusjob retention scheme | - | - | - | |||||
| Total | 174,962 | 69,539 | 244,501 | 214,015 | ||||
| Expenditure on: | ||||||||
| Charitable activities | (186,890) | (69,539) | (256,429) | (232,130) | ||||
| Total | 3 | (186,890) | (69,539) | (256,429) | (232,130) | |||
| Net income / (expenditure) | = | 11,928 | = | - | 11,928 | = | 18,115 | |
| PriorYearAdjustment | - | - | 175 | |||||
| Net Movement in Funds | ; | 11,928 | 3 | - | 11,928 | = | 17,940 | |
| Reconciliation of Funds | ||||||||
| Total funds broughtforward | 321,935 | - | 321,935 | 339,875 | ||||
| Totalfundscarriedforward | 310,007 | - | 310,007 | 321,935 |
This Statement of financial activities includes all gains and losses recognised in the year and complies with the requirements for the income and expenditure account under the Companies Act 2006.
All income and expenditure derive from continuing activities. Comparative figures for the previous year by fund type are shown in note 20.
The notes on pages 11 to 20 are an integral part of these financial statements.
Page 8
ASHFORD BOROUGH CITIZENS ADVICE
Balance Sheet At 31 March 2024
----- Start of picture text -----
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 9 4,215 4,960
CURRENT ASSETS
Debtors 10 2,305 10,911
Cash at bank and in hand 314,595 313,775
316,900 324,686
CREDITORS
Amounts falling due within one year 11 (11,108) (7,711)
NET CURRENT ASSETS 305,792 316,975
TOTAL ASSETS LESS CURRENT
LIABILITIES 310,007 321,935
FUNDS
Restricted 13 = -
Unrestricted funds 236,792 247,975
Designated funds 12 73,215 73,960
TOTAL FUNDS 14 310,007 321,935
----- End of picture text -----
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The trustees have not required the charitable company to obtair an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.The trustees acknowledge their responsibilities for (A): ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standards.
The financial statements were approved by the Board of Trustees onze... /@./2024 and were signed on its behalf by:
Aline Hicks Chair
Page 9
ASHFORD BOROUGH CITIZENS ADVICE
Cash flow Statement At 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Net incoming resources for the year | (11,928) | (17,940) |
| Depreciation and impairment | 3,169 | 2,607 |
| Decrease / (Increase) in debtors | 8,606 | 26,962 |
| Increase / (Decrease) in creditors | 3,397 | (4,144) |
| NetCash inflowfrom operating activities | 3,244 | 7,485 |
| Capital expenditure | (2,424) | |
| Increase / (Decrease) in cash in the year | 820 | 7,485 |
| Reconciliation ofnet cash flow to movement in net funds | 820 | 7,485 |
| Increase in cash in the year | ||
| Net funds at 1 April 2023 | 313,775 | 306,290 |
| Netfundsat31March2024 | 314,595 | 313,775 |
Page 10
|
ASHFORD BOROUGH CITIZENS ADVICE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 ACCOUNTING POLICIES
1.1 Basis of preparation Ashford Borough Citizens Advice is a registered charity with the Charity Commission in the United Kingdom. The address of the registered office is given in the charity information on page 3 of these financial statements. The Bureau provides a free, independent and confidential information, advice and support service to citizens of all ages and backgrounds on a wide range of issues ranging from debt, benefits, employment, consumer, relationships, legal, housing and many others. The charity help citizens deal with their problems by providing information that enables them to make the right decisions for themselves. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) issued on 16 July 2014 as amended by Bulletin 1, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2 Funds accounting
Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objectives. Unrestricted funds include designated funds where the Trustees, at their discretion, have created a fund for a specific purpose.
Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restriction arises when specified by the donor or when funds are raised for particular restricted purposes. Designated funds represent funds designated at the discretion of the Trustees. The designated fund balance has been represented to ensure that fund balance stated accurately reflects the designation policy adopted by the Trustees.
1.3 Income
All income is included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: - Grant income is included in the Statement of Financial Activities when receivable. Voluntary income including donations and gifts is included in full in the Statement of Financial Activities when receivable - Rental income is included in the Statement of Financial Activities in the year in which it is receivable. 7 Investment income is included when receivable.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
1.4 Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to. the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
Expenditure on charitable activities includes comprises those costs incurred by the charity in the delivery of its activities and
Page 11
ASHFORD BOROUGH CITIZENS ADVICE
NOTES TO THE FINANCIAL STATEMENTS FOR
THE YEAR ENDED 31 MARCH 2024
services for its beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them.
1.5 Support costs allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on a staff time basis and other overheads have been allocated ona staff time basis.
1.6 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows
Fixtures, fittings and equipment 33.33% reducing balance Leasehold improvements 15 years straight line Computer equipment 33.33% straight line
All assets costing more than £200 are capitalised and a full year’s depreciation is charged in the year of acquisition.
1.7 Leasing
Rentals payable under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.
1.8 Debtors and creditors receivable / payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure
1.9 Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
1.10 Going concern
The financial statements have been prepared on a going concern basis as the Trustees believes that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. The Board of Trustees are confident that the charity will continue to be able to operate during the next 12 months and is therefore currently a going concern.
Page 12
ASHFORD BOROUGH CITIZENS ADVICE
NOTES TO THE FINANCIAL STATEMENTS FOR
THE YEAR ENDED 31 MARCH 2024
1.11 Judgements and key sources of estimation uncertainty
Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under and other factors, including expectations of future events that are believed to be reasonable under
the circumstances.
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 9 for the carrying amount of the property, plant and equipment, and note 1.5 for the useful economic lives for each class of asset:
2
| GRANTS RECEIVABLE | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Ashford Borough Council - Core | 100,000 | 100,000 |
| Ashford Borough Council- Housing, Welfare and Benefits | 20,000 | 20,000 |
| Legal Aid | 31,239 | 13,916 |
| Office Space & Parking | 41,188 | 25,343 |
| Diana Seabrooke | 24,673 | 24,673 |
| Donations | 23,051 | 28,654 |
| Interest | 4,350 | 1,429 |
----- Start of picture text -----
244,501 214,015
----- End of picture text -----
Page 13
ASHFORD BOROUGH CITIZENS ADVICE
Notes to the Financial Statements
for the Year Ended 31 March 2024
| 3 | Expenditure | Direct | Support | Total | Total | |
|---|---|---|---|---|---|---|
| StaffCosts | Costs | Cost | 2024 | 2023 | ||
| £ | £ | £ | £ | £ | ||
| Charitable Activities | ||||||
| Advice services | 142,318 | 1,777 | 92,334 | 236,429 | 212,130 | |
| Ashford borough council-Housing | ||||||
| Welfare and benefits | 20,000 | 20,000 | 20,000 | |||
| Money Advice service | ||||||
| 162,318 | 1,777 | 92,334 | 256,429 | 232,130 |
4 SUMMARY ANALYSIS OF EXPENDITURE AND RELATED INCOME FOR CHARITABLE ACTIVITIES
This table shows the cost of the main charitable activities and the sources of income directly to support those activities.
| support those activities. | |||
|---|---|---|---|
| Housing | |||
| Advice | Welfare and | ||
| Services | Benefits | Total | |
| £ | £ | £ | |
| Costs | (236,429) | (20,000) | (256,429) |
| Direct income | 100,000 | 20,000 | 120,000 |
| Netcostfundedfromotherincome | (136,429) | - | (136,429) |
Page 14
ASHFORD BOROUGH CITIZENS ADVICE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 5 | SUPPORT COSTS | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Rent, Water and Insurance | 46,236 | 45,083 | |
| Light, Heat and Cleaning | 7,916 | 7,093 | |
| Telephone | 3,012 | 2,330 | |
| Furniture, Equipment and repairs | 4,850 | 5,529 | |
| Information Services | 4,352 | 3,910 | |
| Printing, postage and stationery | 3,213 | 2,520 | |
| Payroll Costs | 950 | 907 | |
| Independent Examiner's fee | 1,100 | 1,100 | |
| Book-keeping costs | 14,363 | 15,056 | |
| Bank Charges | 717 | 639 | |
| Depreciation | 3,169 | 2,607 | |
| Sundry Expenses | 2,456 | 1,184 | |
| 92,334 | 87,958 | ||
| 2024 | 2023 | ||
| 6 | STAFFCOSTS | £ | £ |
| Wages and Salaries | 150,114 | 133,162 | |
| Social Security Costs | 9,442 | 7,756 | |
| Pension Costs | 4,539 | 3,254 | |
| 164,095 | 144,172 |
Average number of staff in the year was 11 (2023 11)
No member of staff earned more than £60,000 during the year (2023: nil)
The trustees consider the board of trustees and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. As detailed above, no trustee received remuneration during the period. The remuneration to the senior management team totalled £32,652 (2023 £30,570)
Page 15
ASHFORD BOROUGH CITIZENS ADVICE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
7 TRUSTEES REMUNERATION AND REIMBURSED EXPENSES
The trustees have received no remuneration in the year (2023: none) During the year the charity paid £1,325 for Trustee indemnity insurance (2023: £1,259)
8 NET MOVEMENT IN FUNDS
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| This is stated after charging | : | £ | £ | ||
| Depreciation | 3,169 | 2,607 | |||
| 9 | TANGIBLE FIXED ASSETS | ||||
| Equipment, | |||||
| Leasehold improvements |
Furniture & Fittings |
Total | |||
| COST | |||||
| At 1 April 2023 | 19,512 | 28,256 | 47,768 | ||
| Additions | - | 2,424 | |||
| At 31 March 2024 | 19,512 | 30,680 | 47,768 | ||
| DEPRECIATION | |||||
| At 1 April 2022 | 15,612 | 27,196 | 42,808 | ||
| Charge for the year | 1,301 | 1,868 | 3,169 | ||
| At 31 March 2023 | 16,913 | 29,064 | 45,977 | ||
| NET BOOK VALUE | |||||
| At 31 March 2023 | 3,900 | 1060 | 4,960 | ||
| At31 March 2024 | 2,599 | 1,616 | 4,215 | ||
| 10 | Debtors | 2024 | 2023 | ||
| £ | £ | ||||
| Prepaymentsandaccruedincome | 2,305 | 10,911 |
Page 16
ASHFORD BOROUGH CITIZENS ADVICE
NOTES TO THE FINANCIAL STATEMENTS FOR
THE YEAR ENDED 31 MARCH 2024
| 11 | Creditors: Amounts falling due within one year | Creditors: Amounts falling due within one year | 2024 | 2023 | |
|---|---|---|---|---|---|
| E | £ | ||||
| Other taxes and social security | 270 | ||||
| Accruals and deferred income | 11,108 | 7,441 | |||
| 11,108 | 7,711 | ||||
| 12 | DESIGNATED FUNDS | ||||
| Balance | Balance | ||||
| brought | New | Designation | Carried | ||
| forward | designations | released | Forward | ||
| 2024 | £ | £ | £ | £ | |
| Fixed Asset reserve | 4,960 | 2,424 | (3,169) | 4,215 | |
| Premises | 30,000 | - | 30,000 | ||
| Equipment | 5,000 | = | 5,000 | ||
| Employer's contractual liability | 30,000 | - | 30,000 | ||
| Development | 4,000 | = | 4,000 | ||
| Total | 73,960 | 2,424 | (3,169) | 73,215 | |
| Balance | Balance | ||||
| brought | New | Designation | Carried | ||
| forward | designations | released | Forward | ||
| 2023 | £ | £ | £ | £ | |
| Fixed Asset reserve | 7,567 | (2,607) | 4,960 | ||
| Premises | 30,000 | - | 30,000 | ||
| Equipment | 5,000 | - | - | 5,000 | |
| Employer's contractual liability | 30,000 | - | - | 30,000 | |
| Development | 4,000 | - | 4,000 | ||
| Total | 76,567 | - | (2,607) | 73,960 |
The fixed asset reserve represents the net book value of fixed assets which are not considered to be general free reserves as they represent buildings and equipment used to carry out charitable activities Premises is funds set aside for major repairs and maintenance for the next three years and/or making good any defects on vacating the lease and costs associated with terminating the lease.
Equipment allows for the replacement of computers and other IT equipment for the next three years. Employer's contractual liability cover possible redundancies, grievances and maternity cover. Development covers new projects and expected costs of meeting new standards imposed by the National CitA umbrella organisation.
Page 17
ASHFORD BOROUGH CITIZENS ADVICE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
13 RESTRICTED FUNDS
----- Start of picture text -----
Balance Balance
2024 brought Carried
Forward Income Expenditure Forward
£E £ £ £
Legal Aid - 31,239 (31,239) -
_ [Ashford] [Borough] [Council] - 20,000 (20,000) 7
Donations 18,300 (18,300)
- 69,539 (69,539) ;
Balance Balance
2023 brought Carried
Forward Income Expenditure Forward
£ £ £ £
Legal Aid - 13,916 (13,916)
Ashford Borough Council - 20,000 (20,000) =
Donations 22,372 (22,372) -
- 56,288 (56,288) -
----- End of picture text -----
Page 18
Ashford borough CAB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
14 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Designated | Restricted | Total | |
|---|---|---|---|---|
| funds | funds | funds | ||
| 2024 | £ | £ | £ | £ |
| Fixed Assets | 4,215 | 4,215 | ||
| Current Assets | 247,900 | 69,000 | 316,900 | |
| Current Liabilities | (11,108) | (11,108) | ||
| 236,792 | 73,215 | - | 310,007 | |
| Unrestricted | Designated | Restricted | Total | |
| funds | funds | funds | ||
| 2023 | £ | £ | £ | £ |
| Fixed Assets | 4,960 | 4,960 | ||
| Current Assets | 255,686 | 69,000 | 324,686 | |
| Current Liabilities | (7,711) | (7,711) | ||
| 247,975 | 73,960 | - | 321,935 |
Page 19
Ashford borough CAB
NOTES TO THE FINANCIAL STATEMENTS FOR
THE YEAR ENDED 31 MARCH 2024
15 Statement of Financial Activities (incorporating the Income and Expenditure Account) for the Year Ended 31 March 2023
Comparative
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | ||||
| £ | £ | £ | £ | ||||
| Income and Endowments From: | |||||||
| Donations and Legacies | 56,298 | 36,288 | 92,586 | 155,977 | |||
| Charitable activities | 2 | 100,000 | 20,000 | 120,000 | 187,922 | ||
| Investments | 1,429 | = | 1,429 | 31 | |||
| Corona virusjob retention scheme Total |
- 157,727 |
56,288 | - 214,015 |
13,710 357,640 |
|||
| Expenditure on: | |||||||
| Charitable activities | 3 | (175,842) | (56,288) | (232,130) | (250,005) | ||
| Total | (175,842) | (56,288) | (232,130) | (250,005) | |||
| Netincome / (expenditure) | - | 18,115 | - | - | 18,115 | 107,635 | |
| PriorYear Adjustment | 175 | 175 | (4,174) | ||||
| NetMovement in Funds | - | 17,940 | - | - | 17,940 | 103,461 | |
| Reconciliation of Funds | |||||||
| Total funds brought forward | 339,875 | 339,875 | 236,414 | ||||
| Totalfundscarriedforward | 14 | 321,935 | = | 321,935 | 339,875 |
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