REGISTERED COMPANY NUMBER: 03358982 (England and Wales) REGISTERED CHARITY NUMBER: 1064038 REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 FOR WELWYN HATFIELD CITIZENS ADVICE BUREAU
WELWYN HATFIELD CITIZENS ADVICE BUREAU CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Page Reporl of the Trustees 1 to8 Ir)dependent Examine¢s Report Statement of Flnanclal Aclivities 10 Balance Sheet Stslemenl of Cash Flows 12 Notes lo the Financial Statements 13to22
WELWYN HATFIELD CITIZENS ADVICE BUREAU (a company limlted by 9uarantee} REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 The Trustees (who are also lh8 Dlrectors for the purpose of Company Law) have ple85ure in presentin9 their annual report and financial statements for the year ended 31 March 2024 which are also prepared lo meet the requirements for a directors, report and accounts for Companies Act purposes. The financial st8tements comply with the Charities Act 2011, the Companles A¢t 2008, the Memorandum and Arlicle5 of Association. and Accounting and Reporting by Charlties". Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019>. Welwyn Hatfield Citizens Advice Bureau operates under the name Cltizens Advice Wel4tryn Haffield and Is referred to as such In the remalnder of this document except where the us8 of the legal name is appropriate. ObJ•ctlves and actlvltles We're here for everyone. We provide free, confidential and independent advice to help people overcome their problems. We work to fix the underlying causes of these problems. We are a voice for people on the Issu88 that matter to them. We value diversity, champion equality and challenoe di8criminatM)n. The trustees have referred to the guidance contained in the Charity Commission's general guidance on publlc benefit when reviewing the aims and objectives of the charitabl8 company and In plannlng any future activitie8, Publlc B•noflt H8ving been in operation since 1940 provldlng free, Independent, Impartlal and corffldentlal advlce to the citlzens of Welwyn Haffield and neighbouring area5, the trustees are satisfied th81 Citizen8 Advlce Wewn Hatfield fully complies with the guSdance on public benefit supplied by the Charlty Commission MaSn Actlvftles Undertaken to Achleve Alm• and ObJoctlvo• The principal activlty of Cltizens AdvSc8 Weln Haff181d Is Ihe provision of free, confidential. independent and impartial advice, information an(i counsel for members of the public. The following services are ¢urrently available: Foodbank outreach advice services Money advice to prevent homelessness Advice on disablllly benèfit8, Includlng home vlslls where needed. Dedic81ed advice service for tenants of Paradigm Housing Advic8 for Deaf people on any subject, delivered in British Sn Language or Slgn Supported Engllsh Conlact detalls for all services can be found al htlps.'I1KY.CaweIhat.org.kIserv1CeSl. As part of the continuing provislon of high quallty advisory servlces to the local community the primary objective is to maintain s8rvlce provlslon. We aim to do that by recruiting and training more face to face and tdeplK)ne advisers. To obtain the funding required to provide services, appllcations are made to variou5 local and national providers of community finanGe. Advertisemenis are placed for advi50ry Staff both as paid employees and volunteer5. induction and tralnlng being provided to the extent thal necessary knoedge and skills are not pre-exisling. Page 1 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Contrlbutlon of Volunteer8 The charity receives help and support in the form of voluntary assistance In advising the public and adminlsterlng the charity. CitlZ8ns Advlce Welwyn Haffield is ever more reliant on the invaluable supporl of our volunteers who underteke a range of roles including 8dminislration. interpreting, advice. cas8work and research and campaign work, and as truslees. In 202312024 our advice volunteers provided 8,432 hours of their time helping us to provide a full and compr8hensive range of advice services to the people of Welwi Haffield. W8 estimate the value of this lime donated at £215,172 to our servlce. In addition, local solicltors help clients of the organisation on a pro bono basis. Cttizens Advlce W61wyn Hatfield provides a range of advice services from signposting. information and advice to specialist casework. These services are delivered by volunteers and paid advisers who deliver advic* by phone. email and face to face appointments through the office in Haffield town Centre and al the Gracem8ad food bank. The scope of enquiries cov8rs the full range of Cilizens Advice subject areas including benefits. debt, housing, employment, consumer. famlly, legal, immigr8llon, health and educallon. ACHIEVEMENT AND PERFORMANCE IN 2023-2024 In the 12 months of 202312024 Citizens Advice Welwyn Haffield deall wilh 14,802 issues - an average of 1,209 per monlh from 5,483 annual unique client conta¢t$. Manyclients regularly return for advlce for a range of reasons including chronic mental or physlcal 111 health, communication problems as a result of literacy or language Issues and b8cause a slgnificanl proportion of our clients are amongst the most deprived and vulnerable wlthin our community. The top 4 enquiry areas account for 69% of all enquiries raised. These are,. welfare beneflts, Includlng universal credit 31%, followed by debt 17.59/0, houslng 13¥0 and Financial Services and Capability 70A. Many enquiry areas lead on to related issues which are cov8red through other advice areas such as., consumer, employment, educalion, health and community care, immigration, legal and utllilies and communications These loplcs 8ccount for the remaining 31 •/0 of Issues ralsed. Durlng 202312024, volunteers and pald staff worked both in the office and remotely. Citizens Advice Welwyn HatField remalns the only independent advice service within Welwyn Hatfield which is able lo offer quallly assured advice across the full range of advice subject areas and also contributes to the local economy by providing training opportunities for volunteers many of whom then go on to 9aln employment in addition to providing a valuable service to their community. Charltablo actlvltle• The kay achlevements in the year were maintainlng levels of service despite Ihe residual impacts of the pandemic and identrfying new funding opportunities. The recruilmenl of new volunleers continued. Page 2 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Principal fundlng 8our¢08 Clients were assisted through the following service5 and the Trustees 6xlend thelr gralllude to the funders lisled.. Welwn Haffield Borough Council IWHBC) who conlinuèd to support the core operallng capacily of the charity through a communtty grant, by funding in supporl of the Homelessness Prevenlion Project including special extra funding for Ihi8 project. WHBC 81so funded a Household Support Fund to provid8 assistance to needy familie5 in the borough including the administration of the prolect. Herttordshir8 County Council (HCC) for funding advic8 services In Brlt18h SkJn Language for Deaf people, debt and benelits advlce for people In crlsls including speclal extra fundlng In this financial year, advice lo clients to mitigate cost of living increases. and a Household Support Fund to provide assistance to needy famllies in the borough including the administration of the project. Paradlgm Houslng for fundlng a seNice to assist Ihelr resldenls with advirR. Haffield Foodbank (Together for Change) to fund the prèsence of a bureau representative at the Halfield Foodbank to provide advice lo foodbank clients. The Sallsbury Pool Charity for thelr Contribution towards the core operaling costs associated with a(Ivice provision. Employment casework provlded by volunteers with speciali$l knowledge. Benefits casework provided by voluntèers wlth speclallst knovAedge and experlence. The charity did not have any borrowlngs from either provlders of fundlng or other source6 at the balance sheel date. Page 3 of 22
WELWYN HATFIELD CITIZEP4S ADVICE BUREAU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Revlew of the Year Income in the year was £600,761 (2023.. £590,906). Of this £483,574 (2023.. £463,106) related lo project restricte(J activities. An operating deficit of £9,470 was realised in the year {2023.' net def11 £28.2971 made up of a deficit of £14,005 in unrestricted funds and a surplus of £4,535 In restricted funds. At 31 March 2024 total net funds were £394,074 (2023.. £403,544) of which £380,458 represented unrestricted funds (2023: £394,417) and £13,616 represenled restricted funds (2023- £9.127). The restricted funds held are likely to be used in the current and future years for the projects for which the funds were received. or returned lo the donors. In the case of the unrestricted funds, a srnall part Is earmarked lo meel identified liabilities, with Ihe remalnder being held to meet ongoing cosls ensuring ihat people can slill gel Ihe help Ih8y need to resolve their problems In the event of a reduction or withdrawRI of funding. Fund8 In Daficlt There are no funds in deficit al the reporling date and no funding lor services provided in 202312024 was in arrear8 al the year end. Pan8lon Fund Llablllty The org8ni88tion participated in Th8 Pensions Trust's Grovrth Plan. a multi-employer scheme whlch provldes benefits to som6 1.300 non-associated participating employers. Llabilities arlslng in respect of the Plan are explained in detail in Note 16 lo Ihe financial slalemenls. R•8•rvo8 Pollcy The charity is required to ensure that funds are available in each financial year to meet any reasonable foreseeable contingency. The organisation will take all necessary steps lo ensure as wide a varlety of funding sources as posslble. so that at no lime in this period would the cessatlon of one or more funding streams presenl so serious a challenge to Ihe future of the organlsaiion. that it could r1 maintain its valuable clienl services without becomlng Insolv8nt. In reviewing the potenllal Costs Ihal could arise should a signtfic3nt reduction in Income be Incurred Ihe Trustees have det8miined that general reserves should be maintained equal to between S and 6 months total expendlture Includlng ihal previously funded by restricted income. This would 8nable the continuation of these aclivilies for e period whilst replacement funding is secured. The higher General Reserves policy figure at 31 March 2024 equates lo £305,062, Al the same date the actual General Reserves Vre £287,965 and were at a level which. al slightly over five and a half months, expenditure, are marginally below of the Trustees, higher target. Additionally, the Truslees have designated specrfic funds totalling £92,493 lo meet expected future spending as sel out in Note 13 of the Financial Statements. This Reserves Policy is monitored and reviewed by the Trustees annually. Inv08tm•nt pollcy and obJoCtIv•8 The charitable company 1$ permitted by Artlcle 3.19 of its Artides of Association. In furtherance of its objects, and for no other wrpose, to invest or deposit funds in any la1 manner whilst having regard to the sultability of investments and the need for diversificat¢on. The charity does not currenuy hold material investments. Golng Concern The Trustee Board has consldered the charilable company's actJ'vitie8, together with the factors likely to affect s future development and performance, the financial posilion of th8 charitabl8 company, ils cash tlows and Ilquidity posilion, taklng account of the current markel conditions. The previous year's balan on the general fund of £300,962 has now reduced slightly to £287,965 and the Trustee Board is satisfied that the charitable company will continue to operate wilhin its own re50urce8 for a period of nol less than 12 months from the date of issue of these accounts. Accordingly, the Truslee Board considers it appropriate lo adopt the going concern basis in preparing the Report of the Trustees and these Financlal Stalemenls. Page 4 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Prlncipal Rlsks and Uncertaintios lcontlnued) CitlZ8ns Advice Welwyn Hatfield has worked on a Corporate Risk Management exercise. A risk management strategy and risk regisler were agreed by the Trustee Board. The Trustees recognise Ihal any major rlsks to whlch the charity is exposed need to b8 revIevd and systems put In place to mili9ale those ri6ks. To that end Citizens Advi Welwyn Halfield regulady monitors and manages it8 risk. reviewing the corporate risk regisler and ensurino action plans are in place lo mitigate its key rlsks. Included in external risks 15 that of the loss of funding. The effects of thi8 have been minlmised by the procedures in place, which have resulted in funding being secured from a varlely of sources. The charity continues to seek to divefslfy ils funding sources. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projecls and lo ensure consistent quallty of delivery for all operational aspecls of the charitable company. These procedures are pèrlodically reviewed lo ensure that they still meet the needs of the charity. Fuluro Developm•nts Cltizens Advice Welwyn Hatfield aims to continually improve access to its service, and intends to extend its service to an even wder number of the communty through increased provision of telephone advice, and by exploring the use of other delivery channels. CMlzen8 Advlce Welwyn Haffield continues to be a member, with all other Hertfordshlre Cltizens Advice Services, of the Hertfordshire Citizens Advice Service IHCASI. This is a nOnperatIOnal organisation wilh the aim of securing contracts and fund8 which might otherwise not be avallable, on b8half of, and for. the benefit of individual members. Structuro, Gov•rnanc• and Manag•m•nt Constilution Welwyn Haffield Cillzens Advice Bureau, a reglstered charlty and a company Ilmlled by guarantee was orlginally established in 1940 and was incorporated as a company limited by guarantee on 23 April 1947. Members include individuals and bodies corporate or unincorporated associations interested in furthering the charitvs vrk, who have b88n approved by the Trustee Board. At 31 March 2024 the company had 12 members (2023 - 12). In the event of the company being bvound up the maximum liability of each rnember18 limited to £1. The Memorandum and Artlcles of Assoclalion, originally adopled on 17 October 2002, and subsequenlly amended on several occasions. mosl recently on 10 August 2016, are the governing documents of the charity. DKecÉors The directors, vtho are also the trustees of the charity for the purposes of charlty law, wh)0 ser4ed during the year and up to the date of this report are Set out on page 7. Recruitmenl and appointmenl of new trust8es Trustees, who are also Directors. are elected from the local community. When the Boerd determines that new trustee is required, appropriate step5 are taken to salisfy the Board that any candidates have the necessary experlise and Commitment, for example by reference to information queslionnaires, interviews conducted by trustees and relevant staff and infomial meetings. A qualrfying candidate is then recommended to the Board by an existing trustee, co-opted al the next Board meeting by majority vote of the trustees and proposed for election at the next AGM. A separate proces5 agreed by the Trustee Board is followed for the elecllon of the Chair. QUalIfng thlrd party indemnlty provislon for the beneflt of one or more of th8 trustees was in force during the year. No other person or bodies external lo the charity were entitled lo appoinl persons to the Trustee Board. Page 5 of 22
WELWfN HATFIELD crrizENS ADVICE BUREAU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Structurei govèmance and managemont {Contlnuod) Induction 8nd training of new trustees NeY appointed Twstees are provided with a cornpr8hensive Induction to Cltizens Advice Welvryn Haffield through the provision of training courses and mentoring by eslablished trustees. Key Management The trustees consider that the board of trustees and Ihe Senlor management team (SMT) comprise the key management personnel of the charlty. The chief executlve's salary 15 reviewed and approved by the Twslee Board separately. Org8nis8twi The charltable company operates from rented premise5 in Queensway House, Hatfield. Welwyn Haffield Cltlzens Advlce Bureau is governed by ils Trustee Board which is responsible for 88ttlng th8 Strategic direction of the organisation and the policy of the charity. The Trustees cary the ultlmate responsibllity for the conduct of Wewn Halfld Cltizens Advice Bureau and for ensuring that the charity satisfies ils legal and contractual obligatlons. Tru51ees meet as a mlnlmum quarterly and delegate the day- toaY operation of Ihe organisation to senior management. The Trustee Board Is independent from management. A register of memb6rs' Interests is maintained al the registered office, and is available lo the publlc. All Truslees give of their time freely and no Trustee received remunèralion in the year. Day lo day organisation81 decisions are delegated lo the Chief Executfve and other members of the management team. The organisational structure chart is regularly reviewed. R•latod parts Cllizens Advlce Welwyn Haffield is a member of Cltlzens Advlc8. the natlonal association for the Citizens Advice service throughout the United Kingdom. Membership of the national association requires the charitable company to adhere lo rl9orous standard5 in respect of governance. organisational practices and quality of advice. The Citizens Advice Membership Scheme requires member organisations to undergo an audit of org8nisalion81 standards and quality of advice by Citizens Advice auditors every three years. Citizens Advice Welwyn Haffield had a Leadership Self Assessmenl Audit in February 2023 and was successful In bolh audi18. Operating pollcies are Independenlly determlned by the Trustee Board of Welwyn Hatfield Citizens Advice Bureau in order lo fulfil ils charitsble objects and comply with the national membership requirements. The charity also cOParate$ and Ilalses with a number of other advisory services. local Charities and social services departments on behalf of clients. Where one of the trustees holds the position of trusteeldireclor of another charity they may be Involved in discussions regarding that other charity bul not in the ultimate decision- making process. Related party transacllons during the financial year are disclosed In Note 15. Page 6 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Name Welwyn Haffield Citizens Advice Bureau also operates as Citizens Advice Welwyn Hatfield Registered Company number 03358982 (England and Wales) Reglster•d Charily number 1064038 Registered office Queensway House Queensway Hatfield Hertfordshire AL10 OLW Trustees J E Gray (Appointed 29.01.24, Resigned 19.04.24) J L Coupland (Resigned 31.01.24) D Given {Resigned 6.10.23) M Songest J D Whitehead (Chair) M Ibbetson S J Thompson (Resigned 22.04.2022, Reappointed 22.05.2024) R K Holmes F E M Holmes (Appointed 28.11.23) Company Secretary N Bromyard Chlef Executive Offlcer Sophie Linington Independent Examiner Neil C Harding BA FCA Bradshaw Johnson Croft Chambers 11 Bancroft Hitchin SG5 1JQ Banks Barclays Bank PLC, Leicester, LE87 2BB Scottish Widows Bank plc, 67 Morrison Street, Edinburgh, EH3 8YJ Cafbank Limited, Kings Hill, West Malling, Kenl. ME19 4TA Close Brothers Ltd, 10 Crown Pla, London, EC2A 4FT Nationwide Building Society, Kings Park Road, Moulton Park, Northampton, NN3 6NW The Charity Bank Limited, Fosse House, 182 High Street, Tonbridge, TN9 1 BE Page 7 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees (who are also the directors of Wefvryn Hatfield Citizen8 Advlce Bureau for the purposes of company law) are responslble for preparing the Report of the Dlrector5 and Trustees and the financial statements in accordance wilh applicable law and United Kingdom Accounting SlarKl8rds (Uniled Kingdom G8n8rally Accepted Accounting Practicel. Company18W 8nd Charity Law requlre the Directors and Twslees to ppare financlal Statements for each financlal year which give a true and falr vl6w of the state of affalrs of Wetrwyn Halfield Cltizens Advice Bureau, the incoming resources and application ol resources, Includiw the Income and expenditure, and of the surrAus or defjcil for that period. In preparing th08e flnandal statements. the Dlrectors 8nd TTu51ee8 are requlred to.. - select sultable aGcounling pollcies and then apply them consistently - make judg8ments and estimates that are rea50naile and prudent stale whether applicable accounting standards and the Charilies SORP have been followed, and explaln where they have not been followed, and prepare the flnancrdl statements on the going concern ba61s unle88 tt Is inapproprfato to pr8sume thal ihe charitable company will conlinue in business. Th8 Trustees are responsible for keeplng proper accountsng records which disclose wlth reasonable accuracy al any Ilme the financial posillon ol the charitable company and lo enable them to ensure that the financlal statements comply wrth the Companies Acl 2006 The Trustees are responsible for ensuring.lhal the company malntalns an adequate sysiem of Internal control designed to provide reasonable assurance that assets are saf8guard8d against m81&rlal loss or un8Uthorised use and lo prevent and detect fraud and other irregularllies The Trustee Board oversee Ihe inform81ion securrty of all personal informallon of our c118nts, s18ff, funders and strategic partners that is processed WeWn Haffield Cllizens Advice Bureau holds loinl respon8lbility for lent data Ihal is held in our case management system, with the n8lion81 Citizens Advlce Service. An information 8ssurance management team exists lo ensure the Confentialrty. integrity and availability of 811 personal and sensitive dala is mainlained lo a16vel *thlch is complianl wilh the requirements Ihe General Data Protection Ragulation and Dala ProleclKJn Acl 2018 In accordance with company law, as the company's Trustees, we certrfy that. So f8r as we are aware, there is no relevant Information of which the company's independenl examiner Is unaware,. 8nd as the trustees of the company we have tak8n all the steps thal we oughl lo have taken in order to make ourselves aware of any relevant infomalion and to establish that the charity's independent examiner Is avRre of thal information. This repori has been prepared in 8Gcordan¢e wllh the provlsions ol Part 15 of the Companies Act 2008 relating to small companles ON BEHALF OF THE BOARD. R K Holmes - Treasurer 21 August 2024 Page 8 of 22
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WELWYN HATFIELD CITIZENS ADVICE BUREAU I report to the charlly Iruslees on my examination of the accounts of the Company for the year ended 31 March 2024. Raspon8lbllitles and basls of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requlrements of the Companies Act 2006 I'the 2006 Act'l Having satisfied mys8lf that the accounts ol the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examin8tion of your chanty's aOUnts as carned out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my eXaminatn I have followed the Directions given by the Charity Commission under sects'on 145{51 Ib) of the 2011 Act. Indendent examlnor'8 8latoment Since the Company's gross income exceeded £250,000 your examlnar must be a member of a body Ilsted In section 145 of the 2011 Act. I conflrm that l am quallfied to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales which is one of Ihe listed bodles. I have complèted my examination. I confirm that no matters have come to my attention in connection with the examlnatk)n glvlng me Cause to believe: accounting records were not kept in respect of the Company a5 required by section 386 of the 2006 Act., or 2. the accounts do nol accord with those records., or 3. the accounts do not comply with the accounting requiremenls of section 396 of the 2006 Ad other than 8ny requirement that the accounts glve a 'true and fair vièvl. whlch Is not a matter considered as part of an Independent examlnalion., or 4. the accounts have not been prepar8d in accordance wth the melhods and principles of Ihe Statement of Recommended Practice for accounting and reporting by charities (Charities SORP (FRS 102)). I heve no concerns and have com6 across no other matters in connection with the examination to which attenlion should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. Neil C Harding FCA InstSlute of Chartered Accountants in England and Wales Bradshaw Johnson Charlered A¢countarrt5 Croft Chambers 11 Bancroft Hitchln SG5 1JQ 10-q-IY- Page 9 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU STATEMENT OF FINANCIAL ACTIVITIES {Incorporatlng Income and Expendlture Accounl) FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 Unrestrlctod Funds Regtrlcted Funds Total Funds Total Funds Not•• Income from Donations and18gacl85 Charitable Activities Investment income Other income 3(a) 3(b) 4.019 99,412 13.706 50 4,019 582,986 13,706 3.915 582,869 4.322 483.574 Total Income 117,187 483,574 600,761 590,906 Expendtture on: Charitable Activities 131,192 479,039 610,231 619.203 Total Exp•ndllure 131.192 479,039 610,231 619,203 NET INCOMEI(EXPENDITURE) 9,470 28.297 RECONCILIATION OF FUNDS TOTAL FUNDS 8ROUGHT FORWARD Transfer Betweon Fund$ 394,417 46 9,127 (46) 403,544 431,841 13 TOTAL FUNDS CARRIED FORWARD 380 458 13,616 394.074 403,544 l of the above results are derlved frorn continuing acllvilies, There Vre no other recognised gains or losses other than those Stated above. The detailed 2023 comparative stalement of financial activities is reported In note 2. The notes on pages 13 to 23 form part of these flnancial statement5 Page 10 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU STATEMENT OF FINANCIAL P051TION Company No. 3358982 AT 31ST MARCH 2024 2024 2023 Unrestrlcted Funds Rèstrl¢t•d Funds Total Fund8 Total Fund8 Notes FIXED ASSETS Tangible Assets CURRENT ASSETS Debtors Cash at Bank and in Hand 3,052 394,072 397,124 3.052 493.036 496.088 4,714 446,679 451,393 98,964 98,964 CREDITORS Amounts falling due within one year 10 115,388) (85.348) (100,736) (45,113) NET CURRENT ASSErs 381736 395,352 406 280 TOTAL ASSETS LESS CURRENT LIABILITIES 381,736 13,616 395.352 406,280 Provlslon for Liabilit9 12 (1,278) (1,278) (2,7361 TOTAL NET ASSETS 380,458 13,616 394 074 FUNDS Unrestrlctod fund8: Deslgnaled fund8 General Fund R•slrlctod Fund8 13 92,493 287,965 92,493 287,965 13.616 93,45S 300.962 TOTAL FUNDS 380,458 13,616 394,074 403.544 The company is enlilled to exemptlon from audlt under Secllon 477 of the Companies Act 2006 for the year ended 31 $1 March 2024. The members have not r6qulred the company io obtaln an audit of its financiel slatement8 for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees aCknedge their responsibilities for (a) ensuring that the charltable company keeps accounting records that comply wilh Section 386 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair vlew of the state of affairs of the charitable company as at the end of each financial year and of its surplus or defictl for each financial year in a¢cordance with the requirements of Sections 394 and 395 afKI which otherwise comply with the requirements of the Companles Act 2006 relating to financial statements, so far 86 applicable lo the charltable company. These financial statements have been prepared in accordance wilh the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The flnancial stateme Trustees on 21 Augusl 2024 and were slgned on its behalf by.. were approved by the Board of J D Whilehead - Chair R K Holmes -Treasurer The rteS on pages 13 to 23 forni part of these financial stat8ments Page 11 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Net cash provided byl(used in) Operating Activities (see below) 32,651 44,096 Cash Flows from Investing Actlvltles Interest Income Purchase of Tangible Fixed Assets Net Cash provided byl(used in) Investing Activities 13,706 4,322 13.706 4,322 Change In cash and cash equivalents In the year 46.357 39,774 Cash and Cash Equivalent at the beginning of the year 446,679 486,453 Total Cash and Cash Equivalents at the end of the year 493,036 446,679 Reconclllatlon of net Incomelexpendlture to net cash flow from operating activlties 2024 2023 Net incomel(expendilure) for the year (as per the statement of financial activities) Adjustments for- Depreciation charge Interest income Decrease (Increase) in Debtors Increase (Decrease) in Creditors Increase (Decrease) in Provision for Liabilities Net cash provided byllused In) Operating Actlvities (9,470} (28,297) (13,706) 1,662 55,623 1,458 32,651 (4,322) (1,017) (8,904) 1,556 Analysls of cash and Cash equivalents In 2024 and 2023 cash and cash equivalents comprise short term bank deposits with a maturity date of six months or less at the balance sheet date, bank current accounts and cash in hand. At 1 Aprll 2023 Cash Flows At 31 March 2024 Bank current account and cash in hand Deposit accounts available on demand Term Deposits (less than six months, notice) 9,976 255,656 (33) 46,605 9,943 302.261 181,047 215 180,832 Total cash and cash equivalents 446,679 46,357 493,036 The notes on pages 13 to 23 form part of these financial statements Page 12 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES The principal accounting policies adopted, in the preparation of the financial statements are as follows.. A) Basls of Prgparatlon The financi81 statements have been prepar8d in accordance Viith the Accounting and Reporting by Charitles: Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019) (Charities SORP (FRS 102), the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Ihe Companies Act 2006. The charllable company meets the definition of 8 public b8nefit enlity under FRS 102. Assels and liabilities are initially recognised al histori¢81 cost or transaction value unless otherwise stated in the relevant accounting policy or note. b) Proparatlon of the Accounts on a Golng Concern Basls The accounts are prepared on a going concern basis after Consideration by the trustees that there are no material uncertainties about the charity's ability to continue as a going concern. c) Incom• Income15 recognised vthen the charity has entitlement to the funds, any performance conditions 8tt8ched to the income have been met, it is probable that the incomè will be received and that th8 amount Cen be mea8ur8d rèllably Grants Receivable- Grants received to finance the actlvlties of the organlsatlon are credlted to the statement of flnanclal aclivlties (income and expenditure accounl) in the period when the activities commence. Bank Int8rest- Bank Interest is Included in the statement of financial activities on recelpi. Other Income - Sales of seNlces ere Included in the statement of financial activltl8s in the period to whlch they r818le Other income, Including donations, grfts, and covenants, are Indu(led when recelved. Grfts and Intangible Income - In addition lo the above, Ihe Charity also receives help and support in the form of voluntary 8SSiStanGe in helping the public. Thls help and support Is not included in the financial statements. However, its value to the Charity has been estimated and Is disclosed in the Trustee's report. Deferred Income - Grants, or the relevant portion of grants, received in advance of the perlod in which the funder specrfies the grant related services are to be delivered are reported as deferred income in the balance she8t. dl Expendllur• All expendlture is accounted for on an accruals basis. All expenditure directly related to the provision of advice services is included within the relevanl project fund in expendlture on charitable activities. Expenditure on raising funds comprises c08ts incurred to raise funds, principally donations, for charitable purposes. Costs incurred in negotiating contracts or grants that require the charty to provide specific charitable ServIS are induded within the relevant project fund in expenditure on charilable activilies. Governance Costs Governance costs include those incurred in the governan of the Charily and its assets and are primarily associated with meeting the constitutional and statutory requirements of the charlty. Pa9e 13 of 22
WELWYN HATFIELD CtrizEN3 ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 d. Allocatlon of Support and Governance costs Support and govemance costs are incurred to further the work of the charity but are not incurred directly for raising funds or carrying out charitable activities. These cosls, which are analysed in the notes lo the Financial Statements, are allocated belween the cost of ralslng funds and expendilure on charitable aclivities on a basls consislenl with the use of resources, e.g. staff costs by the tlme spent and other costs by their usage. e. Tanglble Flx•d A880ts Fixed assets are included at cost. Items are eapitallsed rf their cost. or rf oifted their donated value. is over £5,000 Dewecialion is charged on a straight line basls on the costs of the assets over their estimated useful lives as follows.. Fixtures, fittings and equipmenl 5 years Computers - 5 years Where oranls are recelved to fund specrfic fixed assets Ihe cost of the assel Is fully expended In the period the grant is credited to the 8t81ement of financial activities (income and expendllure account). f. Taxatlon The charity is exempt from corporation tax on surpluses arising from ils charitable activities. g. Fund Accountlng Unrestrlcted funds c2n be used in accordance with the charitable objeclive8 al the discretion of the trustees Restricted funds - Income received for reslricled purposes 15 included In separately Identlfied restricted funds against which appropriate expendilure 15 allocated. Deslgnaled funds - Designated funds are allocated out of unrestricted funds by the truslees for specfflc purposes. The use of such funds Is al the trustees, dlscretlon. Further explanatlon of the nature and purpose of e8ch fund is included in the notes to the flnanclal ststemenls. h. Pènslon costs and olher post-rellrement boneflts The company participates In a multi-employer scheme, comprising several °Series" whlch are either defined benefil or defined contribution schemes. For th8 defined contribution arrangements Ihe company's only liability is the monthly contribution calculated as a proportion of the employee's qualifying earnings during the period of employment. The cost of such contributlons Is recognised as 8 Staff cost and charged directly or allocated to expenditure on charitable actlvllies in line with Ihe policies described in notes 1{d) and 1(e) above. For the defined benefit schemes, because of the multi-employer nature of the scherne11 is nol possible for the company lo obtain sufficient information for il to account for the defined benefit Series. as defined benefil schemes. Such serles are therefore accounted for as defined conlrlbutlon schemes. Additionally there is a deficit recovery plan in place for the deflned benefit Series" lo whlch the company contrlbut8s. A provision recognising the present value of future Contributions under the plan is re¢ognK%ed in the Balance Sheet and any Increase or decrease is reported as a support cost. Leas•8 Rental costs under operatlng leases are charged to the staternent of financial activities In equal amounts over the period of the leases. Irrecoverable VAT The organisation is unable to recover VAT. Page 14 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 2. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES 2023 Unrestrlcted Restricted Funds Funds Total Funds Income from Donations and legacies Charitable Activities Investment Income Other Income 3,915 119,563 4,322 3,915 582,669 4,322 463.106 Total Income 127,800 463,106 590,906 Expendlture on: Charitable Aclivilies 144,579 474,624 619,203 Total Expendlture 144,579 474,624 619,203 NET INCOMEI(EXPENDITURE) 16.779 11,518 28,297 RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD Transfer Between Funds 403,614 7.582 28,227 17,582) 431,841 TOTAL FUNDS CARRIED FORWARD 394,417 9,127 403,544 3 DONATIONS & GRANTS FOR CHARITABLE ACTIVITIES 3(a) Donatlon8 Unr¢8trlcted Restrlcted Funds Funds 2024 Total 2023 Total Salisbury Pool Charity Rotary Club of Hatfield North Mymms Parish Council Trustees, Employees and Volunteers Welwyn Haffield Lottery Other donations under £500 including Anonymous Total Donations 2,500 2.500 2,500 100 500 720 1,320 55 144 1,320 55 144 95 Unrestrlcted Restricted Funds Funds 2024 Total 2023 Total 3 (b) Grants Welwyn Hatfield Borough Council Hertfordshire County Council Helping Herts Herts Community Foundation Wellfield Trust Hatfield Foodbank Big Lottery Fund Paradigm Housing Group Welwyn Parish Council Citizens Advice Department for Work and Pensions 95,000 1.000 225,093 143,455 320,093 144,455 331,895 111,678 10,346 10,000 10,500 48,567 9,880 39,975 5,000 47.374 47.374 52,652 52,652 262 3,150 15,000 15,262 3,150 4,828 582,669 Total Grants 99,412 483,574 582,986 Page 15 of22
WELWYN HATFIELD CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 4.INVESTMENT INCOME 2024 2023 Deposit Interest 5. EXPENDITURE 2024 Total Funds 2023 Total Funds Unrestrlcted Funds Restricted Funds Cost of Charitable Activlties Direct costs Staff & volunteer costs Premises costs Administration & other costs Total direct costs Support costs 16,357 2,669 482 19,508 111,684 276,092 292,449 2,669 10,902 306,020 304211 312,688 10,420 286,512 192,527 83,162 395,850 223 353 131,192 479,039 610,231 619,203 Total Expenditure Staff & volunteer costs Premises costs Administration & other costs Governance costs 103,160 12,190 14,429 1,413 131,192 432,927 17,173 27,036 536,087 29,363 41,465 3,316 610,231 482.452 27,056 106,855 2,840 619 203 479 039 Support costs Staff & volunteer costs Premises costs Administration & other costs Governance costs 86,803 9,521 13,947 1,413 111,684 156,835 17.173 16,616 1,903 192,527 243,638 26,6g4 30,563 3,316 304,211 169,764 27,056 23,693 2,840 223,353 Specific costs incurred for projects are assigned directly to those projects whilst support costs, being expenditure not directly attributable to an individual project, are identified separately and allocated to Projects on the basis of an assessment of the use of reSoUrS for the individual projects. NET INCOME AND EXPENDITURE FOR THE YEAR This is stated after chargingl(crediting): 2024 2023 Depreciation - owned assets Independent Examiner's Fees 1,302 1,158 During the year the Independent Examiner was paid £nil (2023.. £nil} in respect of accounting services provided. Page 16 of22
WELWYN HATFIELD CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 $1 March 2024 nor for the year ended 31 st March 2023. Tru8tM8' Exp•n8es Expenses of £54 were pald for DBS checks for Truslees during the year (2023 £661. An annual premium of £238 (2023: £229) was paid for Trustees, Indemnity Insurance. STAFF COSTS 2024 Wages and salarle8 Social security costs Pension contributions Pension Scheme Management Charge Increase {decr8ase) In Pension provision 465,060 413,475 33,880 29,047 23,418 29,650 1,800 1,748 106 524,264 473 928 The key management personnel comprise lour employees and the lotal amount of employee benefits received by those key management personnel Is £121,201 12023 £97,003). There were no employees who received employee benefit$ in excess of £60,000 during 2024 or 2023. The averag8 monthly number of employees during the year wa5 as follows: 2024 Charitable activllies Support servlces 17 21 23 Full time equivalent 17 15 DEBTORS 2024 2023 Prepayments 4,714 10, CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Taxation and National Insurance contributions Pension contributions Accruals Deferred Income 8.816 2.829 19,511 69,580 100 736 9,040 3,638 24.435 8,000 45,113 Page 17 of22
WELWYN HATFIELD CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 11. DEFERRED INCOME 2024 2023 Balance al 1 April Arnount released to income in the year Amount deferred in the year 8,000 18,000) 69,580 20,226 (20,226) 69,580 8,000 Deferred Income - Granls. or the relevanl portion of grants, received In advance of the period in which the funder specifies the grant related services are to be delNered are reported as deferred income in the balance sheet. 12. PROVISION FOR LIABILITIES Pèn81on8 Scheme Deficll Roductlon Conlrlbutlon8 2024 2023 Openlng Provlslon Payments During the Year Increase {Reduction) in Provlslon (note 16) Closlng Provlslon Amounts expected to be incurred wilhin one year - beyond one year 2,736 (1,564) 106 4,292 {1,564) 1,278 1.564 1,172 As further explalned at note 16, and in accordance wlth the Charities SORP (FRS 102), the provision of £1,278 at 31 March 2024 shown above represents the present value of contributions payable by the Welwyn Hatfield Citizens Advice Bureau that result from the terms of the deficit recovery plan in respect of the Welwyn Hatfield Crtlzens Advice Bureau's membership of the Pensions Trust's Growth Plan. Page 18 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 13. FUNDS Transfers belween Funds At 31.3.24 At 1.4.23 Incomo Expenditure Unrestrlcted Funds General Fund Designated Funds.. Pension Liability Designated Funds.. Dilapidations Fund Designated Funds.. Lease Termination Designated Funds.. Redundancy Costs Designated Funds.. Redecoration Fund 300,962 15,000 20,000 13,750 42,705 2,000 394,417 117,187 131,192 1,008 287,965 15,000 20,000 13,750 41,743 2,000 380,458 (962) 117,187 131,192 46 Restrlctad Funds Crisis Advocate Crisis Extension British Sign Language Homelessness Prevention Project Homeless Prevention Exlension Wellfield Trust Paradigm Housing Project Hatfield Foodbank (Together for Change) Welwyn Hatfield Borough Council IWHBC) Household Support Fund {HSF) WHBC HSF Administration Hertfordshire County Council (HCC)- Cost of Living HCC- Household Support Fund {HSF) HCC- HSF Admin Citizens Advice - Cost of Living School Uniforms Fuel Donations (Hatfield Residents) Fuel Donations (Other Residents) 37 27,981 19,050 43,704 163,093 50,000 27,182 19,050 41,604 160,507 50,000 836 3,370 93 5,470 2,679 46 (46) 52,652 47,374 52,136 47,374 516 12,000 12,000 115 38,100 7,770 6,850 15,000 38,100 7.770 6,850 15,000 1,466 115 1,466 4.000 4,000 9,127 403,544 483,574 600,761 479,039 610.231 46 13,616 394,074 TOTAL FUNDS Restricted Fund balances represent grants which are not subject to time related conditions of delivery and which either cornmend before the end of the financial year but which were not planned to be completed until the following year. Desl nated funds The General Fund which is mainly funded by Welwyn Hatfield Borough Council is the fund through which the Bureau offers quality assured advice aeross the full range of advice subject areas. The Trustee Board reviews and approves annually the nature and level of funds to be set aside from the General Fund for specific designated purposes and has determined that the amounts identrfied for Dilapidations, Lease Termination, Redecoration, and Redundancy, are appropriate. The funds set aside for the first two items are likely to be needed at the expiry of the lease in 2025, or on earlier determination, whilst the Redecoration fund will be used as appropriate in the intervening years. The Redundancyfund exists to provide for any redundancies which may occur due to unexpected funding shortfalls and will be used if that situation occurs. During the year £962 was transferred from the Designated Fund for Redundancy to the General Fund to reflect the currenl liability. There was also a transfer into the General Fund of £46 representing the surplus on a project which had been completed. Page 19 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 13. FUNDS (contInu) Pur 0508 of restrlcted funds Crisis Advocate - Advlce for people In financial hardship in need of emergency support. Funded by Hertfordshire County Council (HCC). British Sign Language- Advice on any subject delivered to D&af p80ple uslng Brrtish Sign Language. Funded by HCC. Homelessness Prevention Project - Advice for people vtho are al risk of homelessness due to rent or mortgage arrears. Funded by Welwyn Hatfield Borough Councll. Wellfield Trust- Funded projects for fuel assistance and school unrforms for needy Hatfield families. Paradlgm Housing Prolect - A money advice project for tenants of Paradigm Houslng. Fund8d by the Paradigm Foundation. Hatfield Foodbank (Together for Change) This fund financès the presence of a bureau representative al the Hatfield Foodbank to provlde 8dvice to foodbank clients. Welwyn Hatfield Borough Council {WHBC} Household Support Fund fund provided by Welwyn Hatfield Borough Council to provide emergency financial assisiance during ihe cour$e of advlce. Funds were also provided to administer thi5 fund. Hertfordshire County Councll - Cost of Llvlng - A fund to facllltate advice lo clients to mitlgete co81 of living Increases, Fuel Donations- Direct financial as818lance to people struggling vdth fuel bllls. A fund to asslst people who are experiencing fuel poverty, Funded by Wellfield Trust. members of the public and by Cilizens Advice tru8tees. 14. OPERATING LEASE COMMITMENTS Total future minimum lease payments under operating leases are as follows., 2024 2023 Less than 1 year Over 1 year 13,750 6,875 13.750 34,750 The premlses occupied by the Organisation are leased from Welwyn Herfield Borough Councll under a lease commencing from 29 September 2021 for five years, which can be lermlnated by 12 months. notl¢e by either side. The rent for the premises amounts to £13,750 per annum and is deducted before the Communlty Grant is recelved from the Council. The rental agreement terms are such th81 Ihe Bureau and Welwyn Haffield Borough Council bolh have responsibilityfor mainlainlng the building and providing precaution 8g81nst fire. Page 20 of 22
WELWYN HATFIELD CITIZENS ADVIGE BUREAU NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 15. RELATEO PARTY DISCLOSURES There were transactions behveen Citizens Advlce Welwyn Hatfield and Citizens Advice in relation to IT support, Insurance and information servic8s. and (x)nference fees, amounting to £6,924 (2023 £7.304). Fundin9 for Charitable Activilies amounling to £15,000 was received from Citizens Advice during the year (2023 £186,176) and miscellaneous income from the same source amounted to £262 (2023 £nll). Welwyn Haffield Cltlzens Advlce Bureau received some of the fundlng whlch orlglnaled from Hertfordshire County Council through Hertfordshlre Cltlzens Advice Service, a charitable MPanY the members of whlch are the len Citizens Advice Organisations in Hertfordshire including Citlzens Advice Welwyn Hatfield. an organisation lch has now been disbanded. Davln8 Given. a former Trustee, is a partner in a legal firm which has provided legal advice to the organisalion from time to lime on a pro bono basls. Neil Bromyard Busln8ss Services, a firm owned by the Company Secret8ry, was paid Nil (2023 £600) for IT services supplied lo Ihe organlsation. 16. PENSION COSTS The company participates in The Pension Trust's Growth Plan, a multl-&mployer scheme, comprislng several 'Series' which have been established over tlme, each offering a different type of pension benefit. Series 1, 2 and 3 of the Gr0h Plan ar8 defined benefrt schemes and Series 4 is 8 money purchase arrangement {a defined contrlbulion scheme). All the assets of all the schemes are held sep8rat81y from those of the company and the fund administr81or8 are The Pensions Trust. The pension scheme for current ernployees is operated on a defined contribulion basls. All employees who have completed three months service and have not opted out of the scheme are enrolled in Serie5 4 of the Pensions Trust's GrovAh Plan sch8me, a money purchase plan, under auto enrolmenl arrangements. The company contributes 5% of pensionable earnings and Ihe employees contribute at a minimum rate of 3%. The company previously enrolled employees in Series 1, 2 and 3 of the Pension Trust's Growth Plan which were defined benefit schemes. Thi5 arrangement was withdrawn for existing members in the early 2000s since when no new members have been enrolled, No current employees are members of this scheme. The assets of Series 1, 2 and 3 schemes are held separately from those of the company In an independently admlnistered fund which is Co-mingled for investment purposes. Due to the multi- employer nature of the Plan, the charity is nol able obtaln Sutent Infornation to en8ble it to account for th6 schemes as defined benefit schemes. Accordingly the accounting charge for Ihts year under the SORP and FRS 102 represents only the employer contrlbutions payable plus Ihe movement in a provision, described below. established to recognise the company's liability lo contribule to a deficit reduction plan for the scheme. The Series 1, 2 and 3 Schemes are classified as a 'last man standing arrangement.. Therefore. the company is potentially liable for other parttcipatsng employers, obligations if those employers are unable to meet their share of the scheme deficit. The results of a full actuari81 veluation of the Grovrth Plan scheme, carrled out 8130 September 2020 showed a deficit of £31.6m. With the aim of eliminating this funding shortfall, parlicipating employers have been asked to pay addilional contributlons to eliminate the shortfall by 31 January 2025. The addrtional conlribution required from the Company for the year commencing 1 April 2023 was £1,564. Contribution5 from 1 April 2024 will also be £1,564 per annum. Page 21 of 22
WELWYN HATFIELD CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 16. PENSION COSTS (CONTINUED) In line wilh Ihe requirements of the SORP and FRS 102, the present value of future contributions payable under the deficit recovery plan ar6 recognised as a liabllity, which amounted to £1,278 al 31 March 2024 (£2,736 8131 March 20231, as detailed in Note 12 of the financial stslements. The liability is based on the rewvery of the deficlt of £31.6m established by 31 January 2025. The decrease in the provlsion for the deficit recovery plan included In Note 12 of the flnandal slatements arises from., 2024 2023 Prov185on for Pen8lon8 Scheme Deficlt Reductlon Payments Income and Expèndlture Impact Interest expense Re-measurements - impact of change in assumptions Re.measurements - Amendments to the contribution schedule 105 81 173) Although the interest expense, being the unwinding of the di8count rate, may be recognised as a finance cost, the whole of the change in the provision has been credited against Staff Costs in the financial stalernenls (see note 8). The total pension cost shown in the accounts for the year amounts to £25,32412023.' £31,406), comprising the movement in the provision for Pensions Scheme Deficrt Reduction P8yments shown above, the contributions payable by the company on behalf of Current employees amounting to £23,418 (2023.. £29.650), plus an Admin charge of £1,800 which The Pension Trust have introduced for the maintenance of the Series 1, 2 and 3 Schemes. There Is a conllngenl Ilablllty In the event that the company were to withdraw its membership of the Growth Plan Series 1. 2, and 3. When an employer withdraws from a multi-employer defined benefit pension scheme where there is 8 deficit, the employer musl pay its share of the defi¢il, calculated on a statutory basis known as the buy-out valuation basis. The contingent wilhdrawal liability for Ihe company in respect of its members, deferred pensioners and pension reclpienls of Series 1, 2 and 3 has been provisionally calculated by the Pensions Trust as £13,029 al 30 Septemtr 2023 (£18,229 al 30 September 2022), the latest dale for which information is evailable. This flgure Is calculated on the solvency, or 'buy-OUt', basis and is based on the Scheme Actuary's estlmale of the pricing basls used to secure pension liabililies In full, in one transactlon, wlth an Insurance company, including any orphan liabllllles, as at 30 September 2023 for all current and former Welwyn Haffidd Citizens Advice pension scherne members. Page 22 of 22
WELWYN HATFIELD 111 BACS REMITTANCE ADVICE Citizens Advice Bureau Queensway House Queensway Herts Haffield AL10 OLW Supplier Nurnber Payment Date Contact 601097 3111012024 Accounts Payable 01707 357000 Tel. No Date ReforMc• Amount GBP 2811012024 3 Year Award Annual Grants Oct 24- March 25 Grant for CAB October 2024- March 2025 40,625.00 Tolal Amount Payable 40,625.00 Payment Account Details Sort Code 405240 Account Number .9027 Account Name Citizens Advice Bureau Wewn Hatfield Borough Council Council Offices,Campus East. Wewn Garden City,Hertfordshire AL8 6AE Tel'.01707 357000 Website.. www.welhat.gov.uk