Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Trustee Report and Financial Ststements For the year ended 31st March 2021 Registered Charity No. 1061839 Company No. 3341148
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau CONTENTS Trustses and Directors Report 3-13 ststement of Trustees and Directors Responsibilities 1>14 Independent Examinerfs Report 15-16 Statsment of Financial Activities 17 Balance Sheet 18 Statemgnt of Financial Activities (Pftor Year) Cash Flow Statgment 19 20 Notes to the Finan¢ial Statements 21-30
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Report of the Trustees The Trustees, who are also the Directors for the purpose of the Companies Act 20C6, present their annual report with the financial statements of the Charity for the year ended 31 st March 2021. The provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the charities SORP (FRS 102) have been adopted in preparing the attached financial statements. 1. REFERENCE AND ADMINISTRATIVE DETAILS Charity Name.. Cyngor ar Bopeth Ceredigion Citizens Advice. Charity Registration-. 1061839 Company Registration: 3341148 Authorised & regulated by the Financial Conduct Authority FRN.. 617575 Registered Office: Cardigan, Ceredigion. SA43 1 ED Napier Street. Chief Officer.. Serretta Bebb Independent Examiner.. Ashmole & Company Thè Old School The Quay Camiarthen SA313LN Bankers.. The Co-operative Bank PO Box 250 Skelmersdale WN86 CAF Bank Ltd 25 lQngs Hill Avenue Kings Hill West Mailing Kent ME19 4JQ
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau The directors of the Cyngor ar Bopeth Ceredigion Citizens Advice are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. The following persons acted as trustees of the charity during the year: Mrs Susan Chambers Chair Mr Paul Hinge Vice Chair Mr David Michael James Honorary Treasurer Mrs Elaine Evans Retired November 2020 Mr Clive Davies Ms Jackie Say Mr Olaoluwa Olusanya Mrs Carolyn Parry Mr James Wallace Co-opted 24 February 2020, elected November 2020 Senior Management Team: Serretta Bebb Glynis Llewelyn Chief Executive Officer Operations Manager 2. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The charity is controlled by its goveming document, a deed of trust. and Constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Charity commenced operations in 1984, incorporated in 1997, and is govemed by ils Memorandum and Articles of Association. The Charity is a member of Citizens Advice, the operating name of the National Association of Citizens Advice Bureaux, which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the Board of Directors in order to fulfil its charitsble objects and comply with the national membership requirements. Recruitment and Appointment of Trustees The Charity is govemed through a trustee board. Trustees who have held office during the year are listed above. The Articles of Association provide for a minimum of three and a maximum of fifteen trustees. Trustees are elected to the Board for a three-year period and are appointed by a resolution of its members at an AGM. Trustees retiring after a three-year period of appointment may be reelected and appointed by a resolution of the Board's mernbers at an AGM. The Board has powers to co-opt members who shall retire at the following AGM and may offer themselves for re*ledion. Co-opted trustees must not exceed one third of the total number of trustees.
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Citizens Advice appoints a representative who may attend the Board as a non-vots'ng member. The board is supported by sub-committees. covering FundinglFinance and Covid-19 response (the latter established in the financial year 2020-21). The trustees who have served during the year can be seen on page 4. None of the trustees has any beneficial interest in the company. All of the trustees are members of the Gompany and guarantee to contribute £1 in the event of a winding up. The organisation is Co-ordinated from its office in Cardigan. Trustee induction and tralnlng New trustees are briefed on their legal obligations under charity and company law, the content of Ihe Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial perfomiance of the charity. They also meet key employees and other trustees. Trustees are encouraged to attend appropriate extemal training events where these will facilitate the understanding of their role. Organlsatlon Structure Ceredigion Citizens Advice is a member of Cits'zens Advice, the operating name of the National Association of Citizens Advice Bureaux, which provides a framework for standards of advi and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the Board of Directors in order to fulfil its Charitable objects and Comply with the national membership requirements. The Chief Executive of the organisation has been appointed by the trustees to manage the day-to4ay operations of the charity. In addition, there is an experienced team of paid stsff and volunteers who are key to the service offered by the charity. Decisions are made by the trustee board in line with the Business Development Plan and are reviewed at least annually. The Senior Management Team meet to review progress against targets and the Charity's financial position and to discuss issues referred to them by the trustee board. Reports and recommendations are then taken to the full board for approval, and their implementation is organised by Ihe chief executive and the staff team. There are regular staff, volunteer meetings and senior management team meetings which ensure that progress is being made against targets. There is an Annual General Meeting, which involves the stsff team, trustee board, members, and other stakeholders.
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Rlsk management The trustees undertake an annual review of the major risks to which the Bureau is exposed, in particular those related to the operations and finances of the bureau. Trustees are satisfied that systems are in place to identify and mitigate those exposures to the major risks. Key risks and Uncertainties The truslees having had consideration to and mindful of the risk factors for the charity identify the following= Securing funding remains a serious challenge to maintain our service. We understand that the next few years are ¢ritical for us in terms of our sustainability and ultimately our long-temi survival. the Trustees are taking this risk very seriously and are responding accordingly Funders have been keen to support the delivery of social welfare advic8 during the Covid-19 pandemic, as it helps to alleviate the difficulties faced by people in terms of their income, aSsing social security and employment rights. However, the availability of future funding is less ¢ertain, with a downward pressure on public finances likely. and greater competition for available funds. The impact ofthe pandemic is such that public health is at a premium, which impacts the service delivery model and has implications for the long-tem development of the service, with the future path sb'll unclear. Multiple pressures on household income from exiting EU, medium and longer tem impact of the pandemic restrictions on the economy, and pressures on the public purse is likely to bring about a penod of high demand for advi, together with challenges in meeling this demand. TNstees' plans and strategies for managing these risks. Funding is sought in line vrith the organisation's business development priorities and from a wide range of funders. in order to diversify our funding base. Developing a communications strategy to make the impact of the work of the charity visible and the ongoing need for the service understood amongst a range of partners and other stakeholders. including funders. A Covid-19 working group of trustees has provided a quick escalation route for the Chief Officer to request reSoUrs. agreement to new projects, and staffing issues. to maximise the flexibility of the service and safeguard public health.
Cyngor ar Bopeth Ceredigion Cltizens Advice Bureau The Board has continued to support the Funding Officer and Chief Officer with a strategic approach to funding matters and a contexbJal approach to developing projects which aim to 'future proof the Servi for the challenges ahead whilst making best use of the available fvnding to support the sector and develop its infrastructure, staffing and volunteering bases. 3. OBJECTIVES AND ACTIVITIES Public benefit & charitable objects The charity's objects, as set out in the objects contained in the Company's Memorandum of Association, are to promote any charitable purpose for the benefft of the whole community of Wales ('the area of benefif) the public benefit, by the advancement of education. the protection and preservation of health and the relief of poverty, sickness and distress. The charity's objects are defined as above. Our aims are focused on: To provide the advice people need for the problems they face To improve the policies and praclices that affect people's lives Our setvice provides free, independent. confidential and impartial advice to everyone on their rights and responsibilitie5. We value diversity, promote equality and challenge discrimination. Though the area of benefit refers to the whole community of Wales. the local office focuses its activities on the county of Ceredigion and surrounds. Ensuring our work delivers our aims We review our aims, objectives and activities each year. The annual review seeks to examine our achievements and outcome. Together with the SucsS of individual key projects and the benefits that have been born from them. In carying out the review we are ensuring that that our aims. objectives and activities are in line with our stated purpose. Focus of our work Our main objectives for the year have been developing our service 50 that it meets the needs of the clients we are tying to support, whilst safeguarding public health. Key activities have included:_ Delivering effective remote seNices, via phone, email, video face to fa and webchat; Continually reviewing, and improving where necessary, the quality of the advice we deliver to all our clients., Diversifying our approach to funding to minimise the risks associated with holding reduced funding streams., Continued partnership working wth other organisations to help develop initiatives to improve access to quality advice, information and support services.
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau 4. HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT Our main activities and vtho we try to help are descrrbed below. All our charitable activities focus on providing the advits people need for the problems they face and are undertaken specifically to provide public benefit. The board of trustees have had due regard to the Charity Commission guidano on public benefit and have complied with the duty in seth'on 4 of the Charities 2011. 5. ACHIEVEMENTS AND PERFORMANCE Advice and Inforniation Services The main areas of charitsble activity are: the provision of general advice and InfOnatiOn services the provision of specialist advice and casework services in the d8bt and welfare benefits categories of social welfare law, and the provision of advice and casework on energy issues and projects and awareness campaigns to tackle fuel poverty Throughout the year we have continued to offer Advi and Infonnation in the following ways.. By telephone, email and webchat, through a local triage number, local email, national Universal Credit Help to Claim helpline and webchat and national freephone Adviceline and Adviceline Cymru, as well as a national email queue. During the year we have offered generalist advice and casework S days a week. An initial assessment takes Pla ensuring that clients are dealt with in the most appropriate way, urgent issues are responded to and clients are not turned away. Virtual (remote) face to fa appointments through Attend Anywhere SOare enabling clients to see their adviser, bring in a third paty (like a support worker, carer or inlerpreter) in through a 3-way call, and facilitate secure document capture on the screen, without the need to post in documents or organise a document drop. Fatsbook Live sessions leg with carers): family centre Zoom meetings., three-way facilitated ¢onferen¢e calls, organised by settings such as Camfan mental health drop in at Lampeter- postal advice and help with online form filling eg by providing phone support andlor (for Help to Claim) webchat. Supplying volunteers with the equipment, training and support to deliver remote advice from home. Worked with our partners in other agencies to develop community hubs, co- designed with users and workers in the partner organisations, to ensure that we can build a network of provision that is flexible and county-wide to meet future client need. Following the end of our lease on 1 King Street in Lampeter, we entered into discussion with other organisations in north Ceredigion in order to ensure that advice can still be accessed from any part of the county.
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Contribution of Volunteers and Paid Staff The charity's success could not have been achieved without the hard work and dedicats'on of volunteers and staff. The trustee board and senior management team recognise the tremendous contribution made by the Gharity's volunteers in advising the public and administering the service. Due to the changed service delivery model, brought in to safeguard the health of the public and the staff and volunteer teams, it has taken time to build up the numbers of volunteers able to be supported to deliver advice from home, and their contribution has made a huge differen to people in n&d of free and confidential advice, often at times of great distress. Some voluntary roles were office-based {such as reptiOn. or paper-based filing) and the move to a cloud-based server and office environment, which was accelerated during the pandemic, has meant that those volunteer roles had not existed in 2020-21. However, we have developed new ways for the local community to get involved in a voluntary capacity and still welcome the input of those willing to make a freely-given commitment to helping others through the provision of advice. Throughout 2020121 the service employed 19 paid workers {17 FTES) and supported up to 12 volunteers over the year (each contributing an average of 6 hours per week over an average of 45 weeks each). Our volunteers have contributed, on average, 3.240 hours per year (2020121.. 7,830). This may be expressed as an annualised value of £33,372 {2020121-. £80,649). However, their value is inadequately expressed in monetary terms. Volunteers bring many skills to the service, for example having life and work experien in many varied areas and roles, and very often the experien gained as a volunteer helps individuals gain or retum to full employment. Citizens Advice Ceredigion are working hard to review our approach to attracting and keeping volunteers. It is our intention to consistently monitor our approach to training, to provide an a¢SSIble and welcoming organisation to be a part of. Who used and beneffted from our seNices7 During the reporting year 2,209 clients (2019120.. 2.4491 benefited from the services of Citizens Advice Ceredigion generating 13,943 separate issues (2019120.. 13,794., 2018119.. 13,436- 2017118.. 10,342. 2016117. 8.617). This marked increase in the number of issues per client over the last five years represents the complexity of issues that those we help are facing and Ihe breadth of help we can give. from housing. to employmenL to relationship. to consumer and many other issues. There were a fijrther 292 'quick issue, clients (2019120.. 227). who were signposted. offered self-help infomiation or referred to other agencies.
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau INhilst we advise people on any issue that they may face, our most common enquiry area year in, year out, is welfare benefits and tax credits which makes up over 500/0 {2019120'. 49 /0) of the issues we have supported clients on. Personal Independence Payment (PIP) and Universal Credit (first-time claim) were once again the top two issues advised on in benefits, followed by Employment and Support Allowance (ESAI and Council Tax Reduction. In total the service negotiated on £295.223 worth of debt (2019120.. £873,422), rescheduling or reducing the debts to make peoples. lives more sustainable. Included in that figure is £260,660 of debts written off, or 880A of all debt we helped people wilh {2019120- 77 % ). The lower figure of totsl debt clients brought to us in 2020121 compared to previous years is due to the actrons of creditors in the pandemic, when 'payment holidays, and temporary suspension of colleGtion and enforcement was applied in many cases. The service generated a total of £1,703,151 (2019120: £1,682.849) in confirmed additional income for clients, primarily through our income maximisation, energy and welfare benefits advice. This figure includes around £20,000 in fuel vouchers distributed to Glienls in hardship who had a pre-payment meter for energy cosls, which we were able to access through the Energy Redress Scheme's Covid-19 Crisis Fund. Investment Activltles The bureau holds 561 ordinary 25p shares in GlaxoSmithKline and valued at £7,226 (2020.. £8.507) on a fair value basis as at 31st March 2021 Factors Affecting the Achievement of Objectives Maintsining sufficient funding to continue delivering the Servi remains a continual challenge. We are making sure that we invest in fundraising and continue to diversify our approach to ensure we are delivering the most cost-effective serni we possibly can. This isn't about simply cutting costs; it is about delivenng a service that genuinely meets clients. needs to make us as cost effective as possible. The MplexIty of the issues that clients are facing, and the additional challenges that clients are experiencing. places additional demands on the service. The support networks that were previously in place for people are changing and we are asked to offer support that falls outside the remit of direct advice. lthere people are vulnerable, it is essential that we offer support in a person-centred way and whilst necessary, this can be resour intensive. 10
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau 6. REVIEW OF FINANCIAL POSITION The availability of funding in the charity sector remains difficult due to the time-limited and short term nature of funding cycles. The charity is focused on providing added value to its funders from a base of sound financial management and ensuring that our services remain relevant to the strategic objectives of stakeholders at local and national level. FINANCIAL REVIEW In the reporting period, the charity had a surplus of £111.830 (2019120.. surplus of £22,207) from a total income of £626,773 (2019120.. £421.275) and expenditure of £513,662 (2019120.. £398.617). At the year end the charity's total funds stand at £466,696 (2019120.. £354,866) of which £386,725 (2019120.. £343,254) is unrestricted and £79,971 (2019120: £11.612) is restricted. Reserves Pollcy The Charity is required to ensure that free monies are available in each financial year to meet any reasonable foreseeable contingency. We produ a Business and Development Plan which covers three years and endeavours to ensure that income continues to be derived from as wide a variety of sources possible. The Trustee Board will take all necessary steps to ensure that at no time within this period would it be possible for the cessation of one or more fvnding streams to present so serious a challenge to the future of the organisation that it could not be managed so as to continue to provide a best value advice servi. In reviewing the potential costs that could arise should a significant reduction in income be incurred the Trustees have deterynined that 'free' reserves should be maintained equal to 6 months normal operating expenditure which equates to £256.831. The organisation's free reserves (General and trustee designated) net of Fixed Assets amount to £312.829 as at 31st March 2021 (2019120 £270,220). Prlnclple Funding Sources The total income for the year of £626,773 represents a net increase of £205,498 ompared to 2019120 (£421,275). The trustees extend their gratitude to Pembrokeshire County Council (£4.061). Abery5Wh Town Council {£4,000) and Cardigan Town Council (£2,500) for grants towards the core service. Project specific funding was gratefully received from.. Welsh Government via Citizens Advice's AdVilink project for debt, benefits and other specialist advice and generalist advice, including phone advice; Welsh Govemment via Citizens Advice's Advicelink project for regional employment advice capacity building lin partnership with local Citizens Advice in Cannarthenshire, Pembrokeshire and Powys),. Welsh Govemment via Citizens Advi,$ Advicelink project for regional income maximisation for older people (in partnership with local Citizens Advice in 11
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Camarthenshire, Pembrokeshire and Powys and Age Cymru Dyfed and Age Cymru Powys).. Welsh Govemmenfs ICF fijnd via the Regional Health and Social Care panel (administered by CAVO) to assist elderly and frail people to avoid hospital admission (in partnership with Age Cymru Dyfed and British Red Cross)., British Gas Energy Trust, via Citizens Advice Cymw, Wami Homes Fund via Ceredigion County Council.. Westem Power Distributson's Covid-19 fvnd., and the Energy Advice Programme via national Citizens Advi to combat fuel povety with energy and income maximisation advice". Welsh Govemment, via WCVA'S Voluntary Services Recovery Fund for sustsining and developing generalist advice and the volunteer-led service., BEIS via Citizens Advice for our innovation Rural Reach project, phone and IT equipment, development of phone and email advi., The Community Fund in Wales. CAVO, DWP'S Help to Claim service. and Tesco Bags of Help for Covid-19 specific grants towards equipment to enable home working of staff and volunteers., The Energy Savings Trust's Covid-19 fund towards the distribution of fuel vouchers for consumers in hardship who use pre-payment meters: DWP via national Citizens Advi for the Universal Credit Help to Claim service. Funds In Deficit No funds were in deficit at the balance sheet. Deficits on any restricted fijnds are met out of unrestricted reseNes (see note 13). Investment Pollcy As required in its Memorandum paragraph 4.17, in furtherance of its objects, and for no other purposes, the Charity has the power to invest any surplus monies not immediately required for its purposes in or upon such investments, securities or propety as may be thought fit. subject nevertheless to such conditions and such consents as may for the time being be imposed or required by law. Designated Funds The designated funds represent monies set aside to meet potential future redundancy costs. upgrading the organisation's IT infrastructure and unrestricted fixed assets and additional costs due to Covid-19. In the opinion of the trustees, given the current economic climate and difficulty raising funds, there conty'nues to be significant risk of closure and loss of funding. 12
Cyngor ar Bopeth Ceredigion Citizens Advice Going Concern After making further appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate reSoUrS to continue in operational existence for the foreseeable future. For this reason, they Continue to adopt the going concern basis in preparing the financial ststements. FUTURE PLANS Developing a sustainable service that meets the needs of our clients remains a priority of the trustee board for 2021122 The charity will build on the work completed in the previous financial year to develop diversified funding streams to increase our sustainability and enable us to build a diverse servi* that is responsive to client needs. The charity will continue to work to ensure that it delivers a cost-effective service, meaning that we are not only offering value for money to our existing fvnders but that we have a viable offer. whilst never compromising on the high quality service that our clients expect and deserve. Having reviewed the risks the charity are facing the trustees have invested resource in funding a funding and development officer to enable us to increase the number of funding bids submitted and to build our capacity in this area. 7. STATEMENT OF TRUSTEES, AND DIRECTORS, RESPONSIBILITIES The trustees and directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulation5. Company and charity law requires the trustees and directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the financial statements in accordan with United Kingdom Generally Accepted Accounting Practice {United Kingdom Accounting Standards and applicable law). Company law requires that the trustees and directors must not approve the financial statements unless they give a true and fair view of the state of affaifs of the company and of the surplus or deficit of the charitable company for that period. In preparing those financial statements. the trustees are required to- select suitable accounting policies and then apply them consistently., make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed subject to any material departures disclosed and explored in the financial statements- d. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitsble company will continue in business., e. that the trustees and directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the charity and that enable5 them to ensure that the financial statements comply with the Companies Act., 13
Cyngor ar Bopeth Ceredigion Citizens Advice that the trustees and directors are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregulartties- and that, where appropriate the trustees and directors are responsible for the Maintenan and integrrty of the corporate and financial infom)ation included on the charity's website. In preparing this report. the Trustees have taken advantage of the small company's exempkn'ons provided by section 415A of the Companies Act 2006. Approved by the trustees of the charity on and signed on its behalf by: Susan Chambers Chair of Trustees 14
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Independent examinerfs report to the trustees of Cyngor ar Bopeth Ceredigion Citizens Advice Bureau I report on the financial statements for the year ended 31st March 2021 set out on pages 17 to 30. Respective responsibilities of trustees and examiner The trustees {who are also the directors of the company for the purposes of company lawl are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under part 16 of the Companies Act 2006 and that an independent examination is needed. The chanty's gross income exceeded £250,000 and l am qualified to undertake the examination by being a member of the Association of Chartered Certified Accountants. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to= examine the accounts under section 145 of the Charities Act 2011.. to follow the procedures laid down in the general Directions given by the Charity Commission under section 145{5){bl of the 2011 act.. and to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out in accordan wlh the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees conceming such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those mattets set out in the statement below. Independent examiner's statement In connection with my examination, no matter has come to my attention.. (11 which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 386 of the Companies Act 2006", and to prepare accounts which accord with the accounting records, comply with the accounting requirements of sects'on 396 of the Companies Act 2006 and with the methods and prinGiples of the Charities SORP (FRS 102) 15
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau have not been met". or 12) to which, in my opinion. attention should be drawn in order to enable a proper understanding of the counts to be reached. MrD. Gould AC. Ashmole & Co Chartered Certified Accountants The Old School The Quay Carmarthen SA313LN , F.C.C.A. .2021 16
Cyngor ar Bopeth Ceredigion Cltlzens Advice statement of financial activities for the year ended 31 March 2021 Incorporating the Income and Expenditure Account Total nds 2021 UnrestTictsd Rtrictsd funds funds Noto 2020 Income from: Donations and legacie8 Charitable activities l Generalist A & 11 Charfcable aclivilie51 Specialist A &11 Other lincluding fundraising) Total 1b 3.065 38.065 3.065 38,065 585,102 $41 626.773 2,902 68.364 349,216 793 421 275 585,102 $41 41.671 585 102 Expendlturo on: Charitable a¢tivities { Generalist A&ll Charitable activities I Specialist A&ll Other Total Expondlture 39,541 39,541 474,121 36,027 362,590 474.121 474 121 513,662 398 617 Other galnsllos¥g8 on Inv•8tment Assots 451 Net incomellexpendlturo} before tran$f¢rs 849 110.981 111,830 22.207 Transfèrs belween funds Net mov•m•nt In funds for tho year 43.471 68.359 111,830 22,207 Reconclllatlon of funds: Balances brought forward 13 354 866 332 659 Balances carrfed forward 13 466 696 354 866 There are no recognised gains or losses in the year. other than those included in the statement of financial activities. All activities derive from Continuing operations 17
Cyngor ar Bopeth Ceredigion Citizens Advice Balance Sheet as at 31 March 2021 Unrestri¢ted Restrictsd Funds Funds Totsl 2021 Totsl 2020 Note Fixed Assets nvestmènts 73.896 7,226 74.095 7.226 73,034 8,507 Current Assats Debtors Cash at bank and in hand 10 15.027 140.856 84,951 225.807 155.883 380,393 536,276 33,732 263.727 297,459 310.469 Creditors- amounts falling due within one year 4.866 146.035 150.901 24,134 Net Currènt Assèts 305,603 79,772 385,375 273,325 Net assets 386.725 79,971 466.696 354.866 Represented by.. Funds of the Charity Unrestricted funds.. General funds Designated funds 12 12 266.725 120.000 266,725 120,000 223.254 120,000 Restricted Funds 12 12 386.725 79.971 466,696 354.866 For the year ending 31st March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordan with sects'on 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounbng records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The financial statements were approved by the Board on . !¢1 li. loai their behalf by= Chairman and signed on usan Chambers David Michael James Treasurer........ Company Regi 061839 Charity Registration No.: 3341148 ation N 18
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Prior year Statement of financial activities for the year ended 31 March 2020 Incorporating the Income and Expenditure Account Total funds 2020 Total funds 2019 Unrestricted Restricted nds Income from: Donations and legacies Charitable activ(ties l Generalist A & 11 Charitable activities I Specialist A 81) Other (including fundraisingl Total 2.902 68.364 2,902 68.364 349.216 793 421,275 3,329 89,026 357,100 349,216 793 72,059 349,216 450,848 Expendlture on: Charitable activities l Generalist A&1) Charitable activities I Specialist Aall Other Total Exp•ndltur• 36.027 36,027 362,590 82.313 362,590 362.590 362 590 398.617 4H,903 Other galnsllo8808 on Inv•8tmont Assgts 451 451 Net Incomellexndltur?l béforè transfèrs 35.581 113.3741 22,207 30,625 Transfer8 beeen fund8 Not mov•mont In funds for th• y•ar Rgconclllatlon of funds". Balances brought forward 301 250 332 659 302 034 Balan¢g8 carrled for•Mrd 343.254 332 659 19
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Cash Flow Statement for the year ended 31 March 2020 2021 2020 Net cash used in opèrating activitiès Net movement in funds for the repoth.ng period 111,830 22,207 Adjustments for Depreciation Charges Decreasellincreasel in debtor5 (Decreasellincrease in creditors Decreasellin¢reasel in Inveslmenl valuation Fixed asset written off 12.904 1122,151) 18.475 1.281 3.683 12,209 7.250 451 Nfyt ¢ash (used byvprovided by operating activities 22.339 45.800 Cash flows from investing actlvities Purchase of office equipment fixed asset disposals {13.9651 114.9581 {13,9651 114,9581 Total net cash (used by}Iprovlded by operatlng and invosting activltie$ 8.374 30,842 Cash and cash equivalents at the beginning of the year 263,727 232.885 Total cash and cash equivalents at thè •nd of the yoar 272,101 263,727 20
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Notes to the financial statements for the year ended 31 March 2021 Accountlng policies Accounting basis The financial statements have been prepared under the historical cost convention with the exception of listed investments which are included at fair value. The financial statements have been prepared in accordance with the Charities SORP (FRS 102) and the Companiès Acts 2006. b) Income Grants receivable Grants made to finance the activities of the local Citizens Advice are credited to the income and expenditure account in the period to which they relate. Bank interest Bank interest is included in the income and expenditure account on receipt. other Incom8 Sales of services are included in the income and expenditure account in the period to which they relate. Other income, including donations. gifts and covenants are included as they were received. Glfts and Intanglblo Income In addition to th8 above, the charity also receives help and support in the fomi of voluntary assistance in advising the public. This help and support is not included in the finan¢ial statemenls. However, its value to the Charity has been estimated and disclosed in the directors, report. Deferred income Grants received in advance of the period in which the funder require5 the expenditure to be applied will be reflected in deferred income within the balance sheet. Expenditure All expenditure is accounted for on an accruals basis. Al expenditure directly related to the provision of advice services is included within charitable expenditure. Other costs incurred have been allocated behveen fvndraising and publicity and management and administration as appropriate. Where such costs relate to more than one functional cost category they have been split on an estimate of time or floor space basis, as appropriate. 21
Cyngor ar Bopeth cedigIon Citizens Advice Bureau Notes to the financial statements for the year ended 31 March 2021 Accounting policies (continued) Fixed assets and depreclation Fixed assets are included at cosL Items are capitalised if it their value is over £500. Depreciation is charged on a straight line basis on the ¢osts of the assets over their estimated usefiJl lives as follows.. Fixtures. fittings and equipment 100/0 on cost to 25 % reducing balan Freehold buildings 2% oncost IT Equipment 330kn on cost The depreciation policy has been reviewed in accordan with FRS 102 and no change has been made from the previous year. Restricted funds Income reiVed for the restricted purposes is included in a separate restricted fijnd against which appropriate expenditure is allocated. Designated funds Designated funds are allocated out of unrestrtcted fijnds by the trustees for specific purposes. The use of suth funds is at the trustees, discretion. Pension The charity operates a defined contribution group personal pension plan for its employees. Payments are charged to the income and expenditure account in the period in which they are incurred. g) h) Leases Rental costs under operakn'ng leases are charged to the ststement of financial activities in equal amounts over the period of the leases. Irrecoverable VAT The local Citizens Advice is able to recover VAT in accordance with agreed parts.al exemption method. i) Investments Investments are re-valued at fair value at the balan sheet date and the gain or loss taken to the Statement of Financial Activities. 22
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Notes to the financlal statements for the year ended 31 March 2021 2 Donations and legacies Totsl 2021 Total 2020 Unrestricled Restn"cted Voluntary income Donations 3.C65 3.065 2.902 3.C65 2,902 3 Income from Charltable Activities Total 2021 Total 2020 Unrestricted Restrlcled CAV(>ICF C3RDSCRT Warm Homes Fund Pembrokeshire County Courril Ceredigion County Coun1 Cardigan Town Council Aberystyvrth Town Council WCVA.Voluntary Services Recovery Fund Citizens Advice-various grants Citizens Advi¢e BEIS Remote working fun Citizens Advice Single Queue uplrfé lund HMPT Phone chavemail grant Citizens Advice-BEIS Innovation Citizens AdVe-tOwardS BABL Citizens Advice-towards MASDAP Citizens Advice- WG Front Line Citizens Advice- Welsh Govemmenl SAP Citizens Advice EBDX Crtizens Advice• DWP Help to Clalm crtizens Advice- Energy Advi¢e Proje Citizens Advice- 8GEf Wam*r Wales Weslem Power Dislributson-covid 19 Community Fund in Wales-covid 19 Energy Savings Trust Covid 19 Crisis Fund Other Grants for Servic08 88,643 42.750 88,643 42,750 4,061 84.747 34.343 4.061 23.396 2.000 2.250 4,061 2,500 4,000 2,500 4,000 73,188 10,804 16,110 10,000 10.000 25.000 73.188 10.604 16.110 10.000 10.000 2S.000 57,983 39,103 3e,168 34,453 204,020 204.020 46,18S 46,185 42,692 8,640 8,640 19,869 18,541 19,869 18,541 15,000 22,158 1,700 19,707 1 S.000 22.156 1.700 36,657 38,065 585 102 623 167 417 580 23
Cyngor ar Bopeth Ceredigion Citizens Advice BUaU Notes to the financial statements for the year ended 31 March 2021 3 Income from Charitable Activities continued... The Welsh Govemment Single Advice Fund was made up ot, Community Focus Specialist Advice-Debt Specialist Advictrother Additional Debt Test & Leam- Income Max Employment Capacity Building Surge Funding 89,539 41,836 13,704 28.353 17,500 6,888 6,200 Cyngor ar Bopelh Ceredigion Cibzen5 Advi aded as agent for the followng SAF funds Test & Leam- Income Max Income Payments to Partners Net Income to Ceredigion inGluded above 90,000 2,500 17.500 Employment Capacity Building Income 30.348 Payments lo Partners Net Income to Ceredigion included above £36.250 of the partner payments still outstanding at 3113121 6.888 Unrnstricted R•strl¢ted 2021 2020 4 Activittes for generating fvnds Rent from bureau meeting rooms Fundraising events 212 212 95 95 212 212 Invostmènt income Bank Interest re¢ewed 329 329 698 Profit on dlspo$al of fixed assèts Miscellaneous Total Other Income 541 541 793 24
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Notes to the financial statements for the year ended 31 March 2021 5 Analysis of expenditure on charitsble activities 2021 Total 2020 Total Charltablg A¢tlvitSos Staff costs Other direct costs 11,001 16,128 307.074 57,764 318.075 73,892 276,594 30.238 Support ¢o$ts 12,412 109,283 121.695 91.785 Total Expendrture by Activty 39.541 474 121 398617 Basis of allocatSon Support Costs 2021 Total Govemanr Management Staff & Volunteer Offi¢e, IT & communications Premises Other 230 3.967 12 4,753 3,618 (1681 2.CA9 67.116 286 30,683 8.890 239 2,299 71,083 298 35.436 12,508 71 Staffing ratio Staffing ratio Stsffing ratio Staffing ralio Staffing ratio Staffin9 ratio AdNity Totsl 12,412 109.283 121.695 25
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Notes to the financial statements for the year ended 31 March 2021 6 Net incomel {expenditure) for the year 2021 2020 This is stated after charging.. Depreciation Accounlan15' remuneration Accountsncy services C((Eens Advice for 12 months of Financial Managemenl Supp1 12,904 3.683 1,902 5,400 1,860 5.400 7 Information regarding Trustees. Directors and Employees 2021 2020 Wages and salaries 369,772 255,825 Social security costs 21,217 20,827 Pension SIS 6.810 397,799 284,891 The average number of FfE employees, anatysed by fun(*"on was: 2021 14.0 2020 13.0 Charitable purposes Management and administration of charity 17_0 15.0 No employee received mUneratiOn of more than £60.000 No Trustee was remunerated for any services. All paymenls were by way of reimbursement for expenses. Travel costs amounting to £012020 £0) were reimbursed to members of the Trustee Board. No trustee indemnity insurance was purchased. The Icral Citizens Advice paid £1.505 in the year ended 31 March 2021 for various insuranee services. Professional indemntty cover is included in our CrtEens Adwce membership fee. There were no related party Iransaclions to report for this peri¢)d. 26
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Notes to the financial statements for the year ended 31 March 2021 8 Fixed Assets Freehold land and buildings Fixtures, fittings and equipment Total Cost Al 1 April 2020 89.707 141.439 231,146 Additions Disposals 13.965 13,965 Al 31 March 2021 155.404 245.111 Depreciation At 1 April 2020 35,881 122.231 158,112 Gharge for the year Dlsposals 1.794 11.110 12.904 At 31 March 2021 133,341 171,016 Net book value 2021 Net book value 2020 19,208 9 Flxed Asset Investhients Listed Investments FAIR VALUE At 1 st April 2020 Revaluations 8.507 At March 2021 NET BOOK VALUE At 31st March 2021 At 31st March 2020 8,507 27
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Notes to the financial statements for the year ended 31 March 2021 10 Debtors Totsl 2021 Total 2020 Prepayments Accnjed In¢ome 3,447 152.436 29.888 155,883 33,732 11 Creditors - amounts falling due within one year Total Total 2021 2020 Pension Creditor Accruals Deferred Income Trade Credrtors Other Creditors 1.399 2,524 1.208 37.478 108 292 6,110 18,024 150.901 24,134 12 Analysis of net assets between funds General Funds Designated Funds Restricted Funds Totsl Funds Tangible Fixed Assets Investments Current Assets Curient Liabilities 73.896 7.226 190.469 4,866 199 74.095 7,226 536.276 150901 120.000 225,807 146 035 Nel Assets 266.725 120.000 79.971 28
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Notes to the financial statements for the year ended 31 March 2021 13 Movement in funds Incomel RecognÈbon of Gain E¥penditurel Recognition of Loss At31 March 2021 Al 1 April 2020 Transfers Restrtcted Funds Welsh Government SAF DWP-Help to Claim Warm Homes Fund Western Power Distribution BGET Wam)er Wales WCVA-VSRF BEIS Innovation Energy Redress BEIS remote working HMPT Phone chal and email Single Queue uplift Energy Advice Programme CAVO-ICF Reslricled Fixeil Assets 204.020 46,185 42.750 18.541 19.869 73,188 25,000 22,156 16.110 10.000 10,000 8.640 88,643 1178.7491 {46,2001 {37.3961 116,TT71 117,552) 161,629) (16,3261 (19.4681 25.271 15 5.354 1,764 2.317 11,559 8,674 2,688 2,145 10,000 10.000 {13.9651 (8,640) 170,9591 425 10,988 624 {28,6721 199 Total ReslThcled Funds 11,612 585.102 474 121 42,622 79.971 Unresthcled Funds General Funds Unrestricted Fixed Assets Designated re5etves RedLJndancy IT Upgrade fund Covid-19 fund Totsl Unrestricted fijnds 150,845 72,409 40.184 1.487 (40,822) 42,622 192.829 73.896 50.000 25,000 45.000 343.254 50,OOQ 25,000 45.000 41,671 40.822 42.622 Total funds 354,866 626.773 514.943 466,696 29
Cyngor ar Bopeth Ceredigion Citizens Advice Bureau Notes to the financial statements for the year ended 31 March 2021 14. Purposes of restricted funds Restricted Fixed Assets This represents grants reIved to purchase fixed assets. A proportion is released to general fijnds on an annual basis in line with depreciation on those assets. 15. Designated funds The designated fund repr8sent monies set aside to meet potential future redundancy costs. upgrading the bureau's IT infrastnJ¢ture and additional costs due to Covid-19. In the opinion of the trustees. given the Current economic climate and difficulty raising funds, there continues to be significant risk of closure and loss of funding. 16. Taxation The charity is exempt from tax on income and gains falling within section $05 of the Taxes Act 1988 or section 252 of the Taxation of Chargeabl8 Gains Act 1992 to the extent that these are applied to its charitable objects. 30