COMPANY REGISTRATION NUMBER: 03204218 CHARITY REGISTRATION NUMBER: 1062219 Wiltshire Citizens Advice Company Limited by Guarantee Financial Statements 31 March 2024
Wiltshire Citizens Advice Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the director's report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) Statement of financial position 15 16 Statement of cash flows 17 Notes to the financial statements 18
Wiltshire Citizens Advice Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2024. Chalrfs report The Citizens Advice organisation celebrates its 85th anniversary this year, having become a nationally recognised brand of unbiased information and advice across a broad spectrum of issues. With offices and local contact points across the country we continue to provide a free service that has helped millions of people across recent years. Assistance is provided by many thousands of employees and volunteers within local Citizens Advice (LCAS) operations, offering similar to our own organisation in Willshire. It is the selfless involvement of volunteers who train with us and give their valuable service5 that allow us and other LCAS to help our clients who look to us for help. At the end of the previous millennium there were around 400 independent local Citizens Advice charities in England and Wales, but due to resource, operational and financial issues there have been many mergers and reorganisations that have reduced this to 252 at the end of this financial year. WCA is within the ten largest LCAS, and has been seen as a leader in terms of operational effectiveness and efficiencies, initiatives and compliance. Within Wiltshire, over the last year, we have experienced a challenging period for our organisation, with a 5 % increase in overall funding and a smaller increase of .5 % in expenditure but with reduced reserves due to the previous year's deficit of £104,600. Consequently, this gave us limitations that clearly, we had to manage from day one. We had 52 paid employees vs 60 the previous year, but with an increased level of hours paid due to a FTE {full time equivalent) of 48 people vs 45 the previous year. We provided assistsnce to 12,186 people with 37,456 issues during the year, which was approximately 150/0 lower than the previous year. Whilst we were able to help less people than the year before, we handled more issues per person. Clearly our specialist resource level was a factor that impacted on this, but several client cases involved more complex issues and situations, particularly issues of debt and other problems due to severe 'cost of living, rises, increases in fuel and general taxation and double-digit inflation. The three main areas that we assisted clients within Wiltshire were benefits, such as PIP and Universal credit, Housing and homelessness and managing money, including budgeting, debt and food guidance. Additionally, we have been working with 6 foodbanks across the county, along with providing drop-in sessions at Doorway, Chippenham that supports homeless people.
Wiltshire Citizens Advice Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 It has been apparent that the level of personal debt and negative equity has grown over the last 12-18 months due to continual monthly increases in interest rates, led by the Bank of England, often leading to unmanageable rent and mortgage increases, further loaded down with alarming increase5 in energy and food prices, and generally high inflation. At the time of writing this annual report, inflation is down to around 2.OD/o, the energy cap has been reduced by 70/0 and previously forecast increases to interest and mortgage rates are now showing reverse trend. However, there are still many people within our region who have no savings or reseNes, or are managing debt and are living from payday to payday. Also there has been a change in UK government to Labour, with a large majority that should, according to their manifesto, look to help more people with 'cost of living problems,, homelessness and NHS backlog issues. As in previous years, we will highlight main issues to the media, along with meaningful issues and priorities to respective government ministers and other senior politicians. Our CEO Suzanne Wigmore has appeared on a number of local and national radio and TV channels, ajong with other members of our senior management team, to inform and raise awareness of many pressing issues. We will continue to work within our office neOrk in Trowbridge, Devizes, Chippenham, where we have recently opened a new town centre office and Salisbury, where we are moving into a shared office with the Trussell Trust charity- Additionally we will consider the benefits of opening an office in Melksham, which is a fast growing town within our county- Our strength lies within our team of WCA associates,. both employees and volunteers, who work tirelessly with expertise and empathy, and I thank these members of the team for their enthusiasm and commitment to the WCA. Particularly, I thank our Senior management team (SMT) for the excellent job that they do, with great leadership from our CEO Suzanne Wigmore. We will continue with a team of 8 trustees into the new financial year, with members who have considerable experience in various management skills which provides both a sound and proactive level of assistance to the SMT team and governance to the business overall. We are forecasting a financial surplus for the new financial year and also aiming at realisti opportunits'es to further increase our revenues and reseNes for the future.
Wiltshire Citizens Advice Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {¢t>ntinued) Year ended 31 March 2024 Reference and administrative details Reglstered Charlty name Wiltshire Citizens Advice Charity reglstration number 1062219 Company registratlon number 03204218 Prlnclpal office and registered Trinity House offlce Bryer Ash Business Park Trowbridge BA14 8HE The trustees B Dri5coII, Chair D Szanto E Dark F Lawley J Fisher P Jamieson, Treasurer Rev Dr P Richter S Brett K Haasjes (Resigned 19 October 2023) (Appointed 19 October 2023> (Appointed 9 November 2023) (Appointed 19 October 2023) Auditor rrcA Ltd Chartered accountants & statutory auditor 269 Farnborough Road Farnborough Hampshire GU14 7LY
Wiltshire Citizens Advice Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2024 Structure, governance and managament WCA is a charitable company limited by guarantee, incorporated on 28th May 1996 and registered as a charity on 6th May 1997. The company was established under a Memorandum of Association which estsblished the objects and powers of the charitable company and is governed under its Articles of Association. Wiltshire Citszens Advice is a member of Citizens Advi, the national umbrella charity. For debit and credit services we are authorised and regulated by the Financial Conduct Authority FRN:617798 The governing body is our Board of Tru5tee5, which meets quarterly and currently has 8 members (maximum 15). Trustees are also the directors of the company who are responsible for the strategic direction and governance of the charity, they agree the business plan, monitor progress toward achievement of organisational goals, review operational goals, review operational performance and oversee the management of organisational risk. Meetings must be quorate with the minimum of 5 Trustee or 50 %, whichever is higher, and each meeting is formally minuted, The Board is elected from its membership by its Members either at its AGM, or where a vacancy exists, at any time between AGMS. The trustees have power to co-opt not exceeding one third of the total number of trustees. The Trustee Board has 2 Committees operating under specific delegated authority through approved Terms of Reference. Finance and Business Development People and Engagement The CEO is responsible for strategic and operational management and is authorised to use resources through the Senior Management Team, towards the achievements of ECA business objectives. The Senior Management Team of the organisation comprises of.. CEO- through whom the Board exercises its Governance Head of Advice Services Head of Operations Regular business meetings are held where performance is monitored, strategically, operationally and financially, and potential improvements discussed, and actions agreed. A scheme of delegation exists which clearly outlines the delegated authorities of senior staff. Through the activities of skilled and committed staff and volunteers, managers and Team Leaders also discharge their responsibilities. The Trustee Board carries out an annual skills audit to ensure there is appropriate expertise within its members. If a gap exists a rigorous recruitment and selection process takes place. Prospective Trustees are provided with a briefing about the organisation and the duties in law of a Charity Trustee. They are then interviewed by a panel comprising the Chair and at least one other Trustee with the Chief Executive in attendance and due diligence checks are completed. Following a satisfactory interview and due diligence process, candidate Trustee are invited to join at least one Board meeting as an observer, before a recommendation is made to the full Board that the prospective Trustee be appointed as a full member.
Wiltshire Citizens Advice Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (eontlnued) Year ended 31 March 2024 New trustees undergo a briefing session on the working of the organisation, and they have induction training. They are given information on the obligations of being a trustee, including employer responsibilities. They are provided with the Business and Strategic Plan5, most recent minutes of Trustee Board meetings, budgets and financial reports. They are offered access to online training on financial management, employer responsibility and trusteeship run by Citizens Advice. In addition to training for new trustees, existing trustees spend time within the organisation alongside volunteers and employees, to maintain awareness of the wider social and policy context in which WCA provides support for its clients. There is a trustee annual review (similar to an appraisal) system in place. All trustees were able to discuss and review their input and performance with the Chair and to talk through involvements for the coming year. Objectives and actlvltles Our Purpose To provide free, confidential and independent advice to help people overcome their problems. To improve the policies and practices that affect people's lives by becoming a voice for our clients and consumers on the issues that matter to them. To promote any charitable purpose for the public benefit by the advancement of education, the protection and preseNation of health and the relief of poverty, sickness and distress in particular, but without limitation, for the benefit of the community of Wiltshire and the district of Swindon and surrounding areas. The Charity's Vision People of Wiltshire can successfully deal with life's problems. The Charity's Values Fair= Listening to our clients and our staff, respecting each other, valuing diversity, acting fairly and working towards a common goal. Responsible.. Independent, impartial, honest, non-judgemental and free, Professional.. Experts in our field, with well trained staff, supportive of each other, empowering our clients and staff and acting consistently. Objectives and Activities To provide free, confidential and independent advice to help people overcome their problems.- To improve the policies and practices that affect people's lives by becoming a voice for our clients and consumers on the issues that matter to them. 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 of Wiltshire and the district of Swirndon and surrounding areas.
Wiltshire Citizens Advice Company Limitsd by Guarantee Trustees. Annual Report {Incorporating the Director's Report) (continued) Year ended 31 March 2024 Achlevements and performance Maintsined a consistent service of availability to Wiltshire people across the last e1ve months despite ongoing delivery pressure and uncertainty around commissioning. Maintained all planned main board and sub-committee meetings with timely reporting and decisions being taken, within the operational protocols. All main decisions and reviews by the CEOISMT with involvement and overview from the WCA trustees Staff and SMT appraisals and reviews undertaken as necessary, and People Management Survey results continue to be mostly very positive. Budget and expenditure managed with a £44,405k deficit (Income minus expenditure) the reduced income being partly mitigated with a reduction in expenditure and liabilities. Close liaison with central Citizens Advice to ensure a consistent approach and action for consistency and commonality of seNices offered and standards maintained. Secured new projects ft)r 2023124. These included grants from the National Lottery, including to support those aged under 25 and with lower level mental health issues, additional funds from Wessex Water to provide debt advice, and money from the Household Support Fund to provide direct support to clients on low incomes. Liaison with other local Citizens Advice operations so as to build and maintain working and operational relationships and to offer assistance where possible. Support to smaller LCAS in the South West with IT, supervision and case checking.
Wiltshire Citizens Advice Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 Flnancial review The Charity started the year facing a challenging period for the organisation, with a 5 % increase in overall funding and with a smaller increase in expenditure, but reduced reseNes due to the deficit of £104,600 in the previous year. The Charity maintained its services as the demand for its services remained high. Income for 2023124 was £1,480,556 (£1,412,707 in 2022123). Expenditure was £1,524,601 {£1,517.397 for 2022123), leaving an overall deficit for the year of £44,045 {2022123 deficit of £104,690)- A detailed analysis of income and expenditure is shown in the Statement of Financial Activities and notes thereto. The Charity was able to assist 12,186 people in the year. This is despite a reduction in our core frjnding from Wiltshire Council. We look forward to going through the process of commissioning with Wiltshire Council in the coming year. Many more people accessed self-help information through our website. Stsff costs form the vast majority of the costs of our charitable activities. Salaries, including employers, national insurance and pension contributions, were £1,244,812(£1,296,542 in 2022123)- Staff costs form 82 % of the Organisation's charitable spend. Further analysis of charitable income and expenditure are given in the Statement of Financial Activities and notes thereto. WCA is committed to maintaining funds in instant access accounts to meet all the day to day needs for working capital. Any funds beyond this, and not required for development of the business in the short term, are invested in low risk deposit accounts, reviewed, and recommended by the Finance and Business Development Committee, and approved by the Board. Trustees. responsibilities ststement The trustees, who are also directors 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 charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resource5 and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to- select suitable accounting policies and then apply them consistently., observe the methods and principles in the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent., prepare the financial statements on the going concem basis unless It is inappropriate to presume that the charity will continue in business.
Wiltshire Citizens Advice Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (Continued) Year ended 31 March 2024 The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor Each of the persons who is a trustee at the date of approval of this report confimis that: so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware., and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit infomation and to establish that the charity's auditor is aware of that information. Small company provislons This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 19 September 2024 and signed on behalf of the board of trustees by.. Driscoll, Chair Trustee
Wiltshire Citizens Advice Company Limited by Guarantee Independent Auditor's Report to the Members of Wiltshire Citizens Advice Year ended 31 March 2024 Opinion We have audited the financial statements of Wiltshire Citizens Advice (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, 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 FRS 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 charity's affairs as at 31 March 2024 and of its incoming resources and application of resour$, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnion 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 auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing Ihe financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charity's ability to continue as a going concern for a period of at least e1ve 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.
Wiltshire Citizens Advice Company Limited by Guarantee Independent Auditor's Report to the Members of Wiltshire Citizens Advice {contlnuedJ Year ended 31 March 2024 Other informatlon The other inforrnation comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infomation. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in dcing so, consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misststement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the infomiation given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial ststements., and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exceptlon In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the 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 companie5, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. 10
Wiltshire Citizens Advice Company Limited by Guarantee Independent Auditor's Report to the Members of Wiltshire Citizens Advice {¢ontinued) Year ended 31 March 2024 Responslbllltles of trustees As explained more fully in the trustees, responsibilities ststement, the trustees (who are also the directors 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 trom material misstatement, whether due to fraud or error. In preparing the financial stateTNents, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 11
Wiltshire Citizens Advice Company Limited by Guarantee Independent Auditor's Report to the Members of Wiltshire Citizens Advica (continued) Year ended 31 March 2024 Auditorfs responsibilities for the audit of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free trom material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonabSy be expected to influence the economic decisions of users taken on the basis of these financial statements. IegularitIes, including fraud, are inStanS 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 identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the directors and other management (as required by auditing standards), the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial Statement, for instance through the imposition of fines or litigation. We indemnified areas as those most likely to have such an effect.. anti bribery and certain aspects of company legislation. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatement in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards, For example the further removed non-compliance with laws and regulations (irregularities) is from Ihe events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non<ompliance and cannot be expected to detect non-compliance with all laws and regulations. 12
Wiltshire Citizens Advice Company Limited by Guarantee Independent Auditor's Report to the Members of Wiltshire Citizens Advice (continued) Year ended 31 March 2024 As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery. intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorfs report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report. However, future events or conditions may cause the charity to cease to continue as a going concem. Evaluate the overall presentation, structure and content of the financial ststements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 13
Wiltshire Citizens Advice Company Limitsd by Guarantee Independent Auditor's Report to the Members of Wiltshire Citizens Advice (contlnued) Year ended 31 March 2024 We communicate with those charged with govefflance regarding, among other matters, the planned scope and timing of the audit and significant audit findings. including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charity'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 charity's members those matters we are required to state to them in an auditor's 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 charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. Thomas ariners ACA Bsci (Senior Statutory Auditor) For and on behalf of CA Ltd Chartered accoijntants & statutory auditor 269 Famborough Road Famborough Hampshire GU14 7LY 19 September 2024 14
Wiltshire Citizens Advice Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds 2023 Unrestricted funds Total funds Note Income and endowments Donations and legacies Charitable activities other trading activities Investment income 29,615 475.213 61,596 12,190 29,615 1,375,100 63,651 12,190 51,534 1,312,183 43,599 5,391 899,887 2,055 Total income 578,614 901,942 1,480,556 1,412,707 Expenditure Expenditure on charitable activities Total expendlture 9,10 603,968 920,632 920,632 1,524,601 1,517,397 1,517,397 603,968 1,524,601 Net expenditure and net movement in funds {25,354) (18,690) {44,045) (104,690) Reconciliation of funds Total funds brought foward Total funds carried forward 462,156 31,838 493,994 598,684 436,802 13,148 449,950 493,994 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 18 to 29 fomi part of these financial statements. 15
Wiltshire Citizens Advice Company Limited by Guarantee statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets 15 161,562 164,973 Current assets Debtors Cash at bank and in hand 16 102.185 395.537 95,321 532.915 497.722 628,236 Credbtors: amounts falllng due within one year Net current assets 17 125,303 211,258 372.419 416.978 Total assets less current Ilabillties 533,981 581,951 Creditors: amounts falling due after more than one year 18 59,032 62,956 Provisions 20 25,000 25,000 Net assets 449,949 493,995 Funds of the charlty Restricted funds Unrestricted funds 37,690 412,260 449,950 31,838 462,157 Total charity funds 21 493.995 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 19 September 2024, and are signed on behalf of the board by: B Driscoll, Chair Trustee The notes on pages 18 to 29 form part of these financial ststements. 16
Wiltshire Citizens Advice Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operating activities Net expenditure (44,045) (104,690) Adjustments for Depreciation of tangible fixed assets other interest receivable and similar income 7,532 112,190} (34,155) (5,391) Changes in.. Trade and other debtors Trade and olher creditors (6,864) 185,957) 1141,524) {115,193) 15,698 13,345 Cash generated from operations Interest received 12,190 5,391 (129,334) (109,802) Net cash used in operating activities Cash flows from Investing activities Purchase of tangible assets Net cash used in investing activities (4,121) (4,121) (630) (630) Cash flows from financing activities Repayments of borrowings Net cash used in financing activities (3,923) (3,923) (4,478) (4,478) Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equlvalents at end of year (137,3781 (114,910) 532,915 647,825 532,915 395,537 The notes on pages 18 to 29 form part of these financial statements. 17
Wiltshire Citizens Advice Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Trinity House. Bryer Ash Business Park, Trowbridge, BA14 8HE, SN15 1 EE. statement of compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Ststement 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) (Charities SORP (FRS 102)) and the Companies Act 2006. Accountlng pollcies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concem After VIewIng the organisations budgets and business plan and taking account of the current economic climate along with its reserves position, the Trustees have a reasonable expeotation that the organisation has adequate resources to continue in operational existence for the foreseeable future. For fhis reason they continue to adopt the going concern basis in preparing the financial statements. Judgements and key sources of estimation uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of eslimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been considered by the trustees. 18
Wiltshire Citizens Advice Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Accounting policias rcontinued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift. receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included f()r the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 19
Wiltshire Citizens Advice Company Limited by Guarantee Notes to the Financial Statements {contlnued) Year ended 31 March 2024 Accountlng policies {contlnuedJ Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates- expenditure on raising funds includes the costs of all fundraising acb-vities, events. non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds ft)r the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributsble to a single activity are all¢xated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation. is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value. over the useful economic life of that asset as follows- Freehold propety Plant and machinery 20k straight line 259/0 Straight line Impaimient of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Vvhere the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 20
Wiltshire Citizens Advice Company Limited by Guarantee Notes to the Financial Statements fcontlnued) Year ended 31 March 2024 Accounting policies (contlnuedj Impaimient of fixed assets (continued) For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Provlslons Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in income or expenditure unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in the statement of financial activities in the period it arises, and is allocated to the appropriate expenditure heading. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. INhere investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. 21
Wiltshire Citizens Advice Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Accounting policies (continu0dJ Financial instruments (continued) Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities. with the exptIOn of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in wh ich the initial gain was recognised. For all equity instrtjments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairrnent are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Limited by guarantee The charity is under the control of its legal members. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations and grants Small parish and council giving Donations in kind 9,384 20,231 9,384 20,231 27,612 7,545 16,377 27,612 7,545 16,377 29,615 29,615 51,534 51,534 Charitable activities Unrestricted Funds Restricted Total Funds Funds 2024 Grants- core service delivery Grants and contracts- restricted projects 475,213 475,213 899,887 899,887 475,213 899,887 1,375,100 22
Wiltshire Citizens Advice Company Limited by Guarantee Notes to tha Financial Statements (contlnued) Year ended 31 March 2024 Charitable activities fcontinued) Unrestricted Funds Restricted Total Funds Funds 2023 Grants- core service delivery Grants and contracts- restricted projects 522,759 522,759 789,424 1,312,183 789,424 522,759 789,424 Other trading activities Unrestricted Funds Restricted Total Funds Funds 2024 Other trading income 61,596 2,055 63,651 Unrestricted Funds Restricted Totsl Funds Funds 2023 other trading income 42,824 775 43,599 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 12,190 12,190 5,391 5,391 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Core service delivery Restrided projects Support costs 394,643 394,643 707,859 422,099 707,859 212,773 209,325 603,968 920,632 1,524,601 Unrestricted Funds Restricted Total Funds Funds 2023 Core Servi delivery Restricted projects Support costs 477,243 477.243 688,434 351.720 1,517,397 688,434 189,769 161,951 667,012 850,385 All grants made within the year were to individuals, through voucher schemes. 23
Wiltshire Citizens Advice Company Limited by Guarantee Notes to the Financial Statements (contlnuéd) Year ended 31 March 2024 10. Expendlture on charitable activities by activity type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Core seNice delivery Restricted projects Governance costs 394,643 707,859 209,837 202,689 9,573 604,480 910,548 9,573 1,524,601 662,003 846,514 8,880 1,102,502 422,099 1,517,397 11. Analysis of support costs Support costs Total 2024 Total 2023 staff costs Premises General office Governance costs Other costs 237,750 106,900 67,876 9,572 237,750 106,900 67,876 9,572 176,504 99,058 67,274 8,881 422,098 422,098 351,720 12. Net expenditure Net expenditure is stated after chargingl(¢rediting)'. 2024 2023 Depreciation of tangible fixed assets 7,532 (34,155) 13. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows- 2024 2023 Wages and salaries other employee benefits 1,244,812 10,639 1,255,451 1,296,542 7,855 1,304,397 24
Wiltshire Citizens Advice Company Limitsd by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 13. Staff costs (contlnued) The average head count of employees during the year was 52 (2023.. 60). The average number of fijll-time equivalent employees during the year is analysed as follows.. 2024 No. 2023 No. Managernellt Administration Other 42 51 52 60 No employee received employee benefits of more than £60,000 during the year12023= Nil). Key Management Personnel The key management personnel of the charity comprise of the Trustees, CEO, Head of Service Delivery and Head of Operations. 14. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were reiVed by the trustees 15. Tangible fixed assets Freehold property Plant and machinery Total Cost At 1 April 2023 Additions Disposals At 31 March 2024 190,610 78,280 4,121 (33,917) 48,484 268,890 4,121 133,917) 239,094 190,610 Depreciation At 1 April 2023 Charge for the year Disposals At 31 March 2024 32,192 2,541 71,725 4,991 (33,917} 42,799 103,917 7,532 {33.917) 77,532 34,733 Carrylng amount At 31 March 2024 155,877 5,685 6,555 161,562 At 31 March 2023 158,418 164,973 25
Wiltshire Citizens Advice Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 March 2024 16. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 41,612 60,573 30,341 55,269 9,711 102,185 95,321 17. Creditors: amounts falllng due wlthin one year 2024 2023 Bank loans and overdrafts Trade creditors Accruals and deferred income Social security and other taxes other creditors 4,745 5,266 77,424 20,749 17,119 125,303 4,745 20,791 117,432 21,410 46,880 211,258 18. Creditors: amounts falling due after more than on8 year 2024 2023 Bank loans and overdrafts 59,032 62,956 19. Deferred income 2024 2023 At 1 April 2023 Amount released to income Amount deferred in year At 31 March 2024 86,048 144,253 (86,048) (144,253) 37,822 86,048 37,822 86,048 20. Provisions Dllapldatlons At 1 April 2023 and 31 March 2024 25,000 26
Wiltshire Citizens Advice Company Limited by Guarantse Notes to the Financial Statements (contlnued) Year ended 31 March 2024 21. Analysis of charltable funds Unrestricted funds At 1 April 2023 At Income Expenditure Transfers 31 March 2024 General funds 462,156 578,614 (603,968) (24,542) 412,260 At 1 April 2022 At Income Expenditure Transfers 31 March 2023 General funds 532,445 622,508 {667,012) (25,784) 462,157 Restricted funds At 1 April 2023 At Income Expenditure Transfers 31 March 2024 Pension Wise Green Square Building Bridges Wiltshire Money Wiltshire Council Mental Health Wiltshire Council- resettlement service support JETS Energy Redress Scheme Winter Hardship Fund Macmillan Cancer Support Itshire Council Carers MS Society Access to Justice Carers Malmesbury Food Bank MAPS Multiply 253,027 (253,027) 9,845 20,055 (22,914) 6,986 40,335 (40,498) 163 53,237 60,210 6,000 17.500 {59,679) (70,407) (6,124) (22,374) (6,442) {10,073) (124) 124 4.843 31 16,639 111 2,204 16,639 25,177 76,756 87,632 {25,288) {78,960) (96,495) 17,150 8,287 27
Wiltshire Citizens Advice Company Limited by Guarantee Notes to the Financial Statements (conflnued) Year ended 31 March 2024 21. Analysis of charttable funds (contlnued) Salisbury Food bank Surviving winter Wessex Water Debt Advice National Lottery HSF4 Devizes Foodbank Doorway 44,773 66,350 (45,509) (51,653} 736 14,697 36,253 55,125 28,258 23,254 8,000 901,942 (39,907) (55,303) (21,055) {23,363} {8,076) (920,632) 3,654 178 517 109 76 7,720 31,838 24,542 37,690 At 1 April 2022 At Transfers 31 March 2023 Income Expenditure Pension Wise Green Square Building Bridges Wiltshire Money Wiltshire Council Mental Health Wiltshire Council- resettlement servi support JETS Energy Redress Scheme Winter Hardship Fund Macmillan Cancer Support Wiltshire Council Carers MS Society Access to Justi Carers Malmesbury Food Bank MAPS Multiply Salisbury Food bank Surviving winter Wessex Water Debt Advice National Lottery HSF4 Devizes Foodbank Doorway 268,790 47,500 961 21,525 {268,790) (49,359) (1,228) (24,438) 1,859 267 12,758 9,845 2,856 42,000 (45,067} 211 33,000 94,000 (37,496) (115,350) 4,496 4,336 17,014 32,086 {31.254) (832) 53,238 60,210 5,250 35,000 (56,531) (63,925) {5,342} 130,157) 3,293 2.190 92 1,525 4,843 5,050 86,783 22,658 13,816 31,672 (5,343) {94,574) (5,508) (14,472) (31,973) 293 7.791 17,150 656 301 66,239 790,199 (850,385) 25,785 31,838 28
Wiltshire Citizens Advice Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 22. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Provisions 161,562 422,105 (87,376) (59,032) (25,000) 161,562 497,722 (125,303) (59,032) (25,000) 449,949 75,617 137,927) Net assets 412,259 37,690 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Provisions 164,973 566,603 (181,483) (62,956) {25,000) 462,157 164,973 61,633 628,236 129,795) (211,258) (62,956) (25,000> 493,995 Net assets 31,838 23. Analysis of changes in net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand Debt due within one year Debt due after one year 532,915 {4,745} (62,956) 465,214 (137,378) 395,537 (4,745) 159,032) 331,760 3,924 (133,454) 29