Greenwich Citizens Advice Bureaux Limited
(a company limited by guarantee)
Financial Statements
For the year ended 31 March 2024
Company No. 3346379 (England and Wales)
Charity No. 1064404

Greenwich Citizens Advice Bureaux Limited
Index to the Financial Statements
For the year ended 31 March 2024
Contents
Reference and administrative details
Report of the TnJ5tee Board
Independent auditor'5 report
11
Statement of financial activities
14
Balance sheet
15
Statement of cash flows
16
Notes to the financial statements
17
Previous reporting period information
29

Greenwich Citizens Advice Bureaux Limited
For the year ended 31 March 2024
REFERENCE AND ADMINIsfRATIVE DETAILS
Trustees
The following served as company directors and charity trustees during the year:
Appointed
Resigned
Thomas Quinn
Cindi Van Graan
Marine Andre
Sean Craddock
Rachel Dabiri
Craig Marsden
Edward Walker
Catherine Webster
Chair
Treasurer
Chair as of 17.07.2024
14.03.2016
21.11.2022
17.05.2021
13.09.2023
08.11.2021
17.05.2021
28.03.2022
14.09.2020
17.07.2024
01.12.2023
13.06.2023
All members of the Trustee Board are members of the company and guarantee to contribute
to its assets in the event of it being wound up such amounts as may be required not
exceeding £1.
The Trustees have no beneficial interest in the company and are not remunerated.
Auditors
Goldwins Limited
75 Maygrove Road
West Hampstead
London NW6 2EG
Goldwins were re-appointed as auditors at the AGM in November 2023.
Bankers
Unity Bank

Greenwich Citizens Advice Bureaux Limited
For the year ended 31 March 2024
Report of the Trustee Board
The Trustees present their Report and the Financial Statements for the year ended 31 March
2024.
The legal and administrative information set out on page 11 forms part of this Report. The
Financial Statements comply with statutory requirements, the Memorandum and Articles of
Association and the Statement of Recommended Practice - Accounting and Reporting by
Charities.
OBJEcfIvES AND AcfIviTIES
Our vision Everyone will be able to access free advice to find a way forward.
Our mission
To provide the advice people need for the problems they face
To improve the policies and practices that affett people's lives
Our values
Valuing diversity
Independent and impartial advice
Confidentiality
Free advice
Working with integrity
Challenging discrimination
Promoting equality
Collaboration and partnership work
Accessible high quality advice
Our objectives
Objective [l]To improve people's quality of life by providing effertive high quality
information, advice and casework services to people in the Borough of Greenwich, and
seafarers and their dependents in the UK.
Objective [2] To create Social Value for the community of local people and for seafarers and
their dependents in the UK. This includes working with volunteers, training and support,
partnership working, campaigning and influencing work and through our role as part of the
national Citizens Advice Service.

Greenwich Citizens Advice Bureaux Limited
For the year ended 31 March 2024
Artivities
-Advice Services
Provide high quality advice services which make a real difference to our clients.
Welfare benefits and tax credits advice
Debt advice and financial capability training
Other advice areas
-social Value
Training and support for volunteers and people on work placements
Community engagement and local partnerships
Campaigning and influencing work
STRucfuRE, GOVERNANCE AND MANAGEMENT
Greenwich Citizens Advice Bureaux Ltd (GCAB) is a registered charity and a company limited
by guarantee, governed by its Memorandum and Articles of Association. The Trustee Board
is responsible for its governance and the Chief Executive for its management. The Trustee
Board may comprise up to twelve members. A quorum is three members. Trustees are
normally recruited through advertising or following a recommendation. Any suitsble
candidate is interrfiewed by the Chair of the Board and the Chief Executive. If they are
considered suitable, references will be taken up. After that they will attend a Board meeting,
after which the Board decide whether to appoint them.
Once appointed, a Trustee will be trained over a period of approximately six months. This
will include spending time with the Chair, the Treasurer and the Chief Executive, reading a
number of documents that are fundamental to an understanding of GC4B, going on any
relevant courses, being shown the offices, meeting the staff and sitting in on advice
sessions. There is a thorough induction prO￿sS in place.
The Trust￿ Board currently meets six times a year. Meetings are attended by the Chief
Executive, a minute-taker and a stsff representstive. Various reports and papers are
discussed. These are principally prepared by the Chief Executive, but may be prepared by
others, including the Chair and the Treasurer. Decisions on any relevant issue are made by
the Board. Ad hoc Board meetings may be convened as required. The AGM takes place
before the November Trustee Board meeting annually.
The Trustee Board are responsible for *tting pay for key management personnel. Pay for
key management personnel will always be discussed and agreed during the confidential
section of Trustee Board meetings without any stsff present. The Board take into account
a range of benchmarks and criteria when setting pay, including the Job Description and role,
NJC payscales and salaries for equivalent posts in London.

Greenwich Citizens Advice Bureaux Limited
For the year ended 31 March 2024
Statement on public benefit
The section below covering the achievements and performance of the charity sets out the
activities carried out for public benefit. The Trustees confirm that they have complied with
the duty in section 17 of the Charities Att 2011 to have due regard to public benefit guidance
published by the Commission in determining the activities undertaken by the charity.
In the interest of transparency, the Trust&s make the following observations on the two
key principles of public benefit.
Principle I: there must be an identifiable benefit or benefits
It must be clear what the benefits are
these are set out below.
The benefits must be related to the aims - the Trustees review the activities of the
charity against its aims on an ongoing basis and are satisfied that all activities
continue to be related to the aims.
Benefits must be balanced against any detriment or harm
detriment or harm have been identified.
no specific issues of
Principle 2: benefit must be to the public or a section of the public
The beneficiaries must be appropriate to the aims
the beneficiaries are people
from the Royal Borough of Greenwich and surrounding areas and seafarers and their
dependants in the UK.
Where the benefit is to a section of the public, the opportunity to benefit must not
be unreasonably restricted by geographical or other restrictions; or by the ability to
pay any f￿S charged.
People in poverty must not be excluded from the opportunity to benefit
charity's serdices are provided free to beneficiaries.
the
Any private benefits must be incidentsl
a number of private benefits do necessarily
arise from the activities of the charity. In particular, the charity finds it essential to
employ and remunerate staff. These private benefits are, however, incidental as they
are a necessary by-produrt of carrying out the charity's aims.

Greenwich Citizens Advice Bureaux Limited
For the year ended 31 March 2024
ACHIEVEMENTS AND PERFORMANCE IN THE YEAR 2023-24
In the year 2023-24 GCAB provided high quality advice services to people in the Royal
Borough of Greenwich and to seafarers and their families across the United Kingdom. GCAB
advice services benefit the local community and seafarers and their dependents in many
ways including tackling poverty, reducing debt, preventing homelessness, promoting
equality and challenging discrimination.
In 2023-24 GCAB delivered advice to 3,521 unique clients (this is individual people who are
counted once only during the year no matter how many times they came for advice) and
dealt with 11,428 new issues. £3.2 million in financial outcomes was identified for our
clients. This figure includes debt write-offs, benefit and tsx credit entitlement (calculated
over one year) and lump sums, and charitable grants. 228 cases of homelessness were
prevented.
As a member of the National Citizens Advice Service for England and Wales, GCAB must
comply with the Citizens Advice Performance Quality Framework which includes continuous
checking of quality of advice, a "People Survey, an annual "Leadership Survey" monitoring
of client satisfaction and an audit every thr￿ years. GCAB has met all required standards
and provides high quality advice services.
The services delivered in The Royal Borough of Greenwich are generalist and debt advice
services for people living in the Borough, funded by The Royal Borough of Greenwich. During
2023-24 services were provided remotely, primariliy by telephone, due to the relocation of
the service from the Old Town Hall office to new premises we have yet to move into.
However, in 2023-24 we increased the amount of face-to-face advice that we do at outreach
venues across the borough.
In this financial year the lease on the Old Town Hall has been surrended and The Royal
Borough of Greenwich are renovating Cambridge Barracks for our use and we expect to
occupy and deliver face to fa￿ services from there in 2024-25. We are looking forward to
having new offices as a base for staff and volunteers and as a place to deliver face-to-face
advice to local people.
In 2023-24 GCAB was funded by The Royal Borough of Greenwich to provide a generalist
advice service and an unrestricted debt service to people in the borough. GCAB was also
funded by The Royal Borough of Greenwich to provide a debt advice service with the aim
of preventing homelessness.
GCAB has secured funding from The Royal Borough of Greenwich for four years from April
2023 to provide generalist and debt *rvices for people in the Royal Borough of Greenwich.
GCAB are part of the Greenwich Outreach Advice Hubs project, funded by Greenwich
Council. This is a partnership project which stsrted in April 2022 and has now completed
its second year, providing advice and support at outreach venues across the Borough.

Greenwich Citizens Advice Bureaux Limited
For the year ended 31 March 2024
GCAB has a contrart with We are Digital to provide debt and money management services
to L&Q tenants through the "Pound Advice" project. GCAB also receives funding from
Peabody for an advice service for their residents in Charlton.
In September 2022, GCAB began delivering a Crisis Support Projert funded by the GLA.
This is a pan-London service delivered by the informal partnership of Local Citizens Advice
services in London and led by Royal Courts of Justice (RCJ) Citizens Advice. Funding
continued thorughout the year 2023124 and GCAB will continue the project for another year
into 2024125.
GCAB runs the The Seafarers, Advice & Information Line (SAIL). This service was set up
specifically with the needs of seafarers in mind and is accessible from anywhere in the UK
and by people who are at sea. It is principally a telephone advice line, although letter and
e-mail advice are also given.
SAIL advisers provide an in-depth casework service for active and retired merchant
seafarers, fishers, Royal Navy, Royal Marines and their families. SAIL also provides second
tier support on advice issues to other maritime agencies.
SAIL is funded by Seafarers Hospital Society, The Seafarers, Charity and Gr￿nWiCh Hospital
and GCAB very much appreciates their support.
All at GCAB greatly appreciate the continued financial support of the Royal Borough of
Greenwich, the Seafarers Hospital Society, The Seafarers, Charity, Greenwich Hospitsl,
Peabody, We Are Digital/L&Q, GLA, Citizens Advice and all of our other funders and
supporters.
GCAB continues to progress positively and we shall try to meet the needs of seafarers and
their dependents and all those in Greenwich who require advice from us. Our aim is to seek
appropriate funding to maintsin and develop our *rvice over the coming year.
Plans for Future Periods
The GCAB Business Plan for 2023 - 2026 sets out in full the charity's plans for the future
including our aims and key objectives for the period, together with activities planned to
achieve them. The GCAB Business Plan is reviewed annually.
The GCAB Business Plan ststes our mission, objertives and attivities as set out above.
In 2024-25 we will prioritise developing all advice serrfices to meet demand for advice, which
we anticipate will be great due to the current cost of living situation. This will include
delivering the highest quality advice services and meeting all targets; developing a wide
base of volunteers through our Volunteer Development Project and setting up expanded
face-to-face advice services once we occupy the newly refurbished Cambridge Barracks.

Greenwich Citizens Advice Bureaux Limited
For the year ended 31 March 2024
FINANCIAL REVIEW
Risk Assessment
The Trustees keep all major risks to the organisation under review. We have a formal risk
assessment process in place, the outcomes of which are reported to the Trustees and
appropriate action taken.
A risk assessment is undertaken annually using the national Citizens Advice service template.
This covers the following categories in detsil:
Finance
Governance
Management
Service Delivery
Social policy (Research and Campaigning)
Stskeholder relationships
Engagement with the wider service
IT/systems
Premises
Information Assurance
The risk assessment includes:
Identification of risks in each of the categories listed above
Assessment of gross risk
A statement to show the controls in place to mitigate the risk
Assessment of net risk after mitigation
Action to be taken to decrease the risk.
Reserves Policy
Resenies are held to help the charity operate effectively. The GCAB Trustee Board keeps
the reserves policy and the level of reserves held under review. The Trustee Board monitors
the level of reserves held throughout the year as part of the normal monitoring and
budgetary reporting processes. There is also an annual review of the reserves policy.
When reviewing and monitoring the reserves policy the GCAB Trust￿ Board ensure that
they:
identify when reserves are drawn on so that they understand the reasons and can
consider the corrective action, if any, that needs to be taken;
identify when reserve levels rise significantly above tsrget so that they understand
the reasons and can consider corrective action, if any, that needs to be taken;
identify where the reserves level is below tsrget, consider whether this is due to
short-term circumstance or longer term reasons which might trigger a broader review
of finances and reserves.
regard the ongoing review of the reserves level, target and policy as part of managing
the charity;

Greenwich Citizens Advice Bureaux Limited
For the year ended 31 March 2024
ensure the reserves policy continues to be relevant as the charity develops or changes
its strategy and activities.
review the statement on reserves in the trustees, annual report where there have
been significant changes in the reserves polic/ or level of reserves held.
In this way the Trustees are aware of the build up of excess reserves or of resenies being
unexpertedly or rapidly depleted.
The GCAB Trustee Board has approved a reserves policy which is based on the findings of
the organisational risk assessment, as set out below.
Unrestricted reserves
The trustees believe that the organisation should hold financial reserves to ensure that the
charity can continue to operate and meet the needs of clients in the event of unforeseen
and potentially financially damaging circumstances arising.
The trustees consider that it would be prudent to aim to set aside an amount equivalent to
two months, operating expenditure or £IOO,000, whichever is the greater. This /eve/ of
rese/ves is deemed to be an achievable target.
Designated reserves
In addition, unrestricted funds have been designated for the following purposes:
Contrartual commitment reserve - a reserve to ensure that the organisation is able to
cover contrattedpayments to staffsuch as redundancy, pmvision of/ocum maternity cover,
and the costs of any disciplinary and/or gnevance procedures which may arise. At least
£20,000 is agreed as a target.
Developmentreserve - a reserve to allow the organisatson to undertake the development
of new projetts and areas of work and to condutt fu// feasibility studies on the advisability
of such proposa/s. At least £5, 000 recommended.
Restricted reserves
These funds are restricted by the donor or funder and cannot be used for the general
purposes of the organisation. Their existence, and the sums of money therein, do not imply
that there has been an underspend but may result from a variety of circumstances including
timing differences between the bureau's financial year and the funding year of the project
concerned.

Greenwich Citizens Advice Bureaux Limited
For the year ended 31 March 2024
Financial Position and Available Funds
The statement of financial artivities shows a total surplus for the year of £20,988 (2023: a
deficit of £46,706). Reserves at 31 March 2024 were £141,577 (2023: £140,857) of
unrestricted reser￿eS and £71,089 (2023: £50,821) of restricted funds required to finance
ongoing restricted funded programmes and activities. Included in restricted funds are
underspent grants which have b￿n agreed to carry forward for ongoing projects.
TRUSTEES. RESPONSIBILrrIES IN RELATION TO THE FINANCIAL STATEMENTS
The Trustees are required by company law to prepare Financial Statements for each financial
year which give a true and fair view of the state of affairs of the charity and of its financial
position at the end of that year. In preparing those Financial Statements the Trustees are
required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent.
state whether the policies adopted are in accordance with the Companies Act
2006 and with applicable accounting standards and statements of recommended
practice, subject to any material departures disclosed and explained in the
Financial Statements.
prepare the Financial Statements on the going concern basis unless it is
inappropriate to assume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which 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 detettion of fraud and other irregularities
Approved by the Trustee Board on 18th September 2024 and signed on its behalf by
Marine Andro (Sop 26, 2024 20..57 GMT+ll
Marine Andre
Chair
10

Independent auditors, report to the members of Greenwich Citizens Advice Bureaux Limited
Opinion
We have audited the financial statements of Greenwich Citizens Advice Bureaux Limited for the year
ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance
Sheet, statement of cash flows and the related notes. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounling
Practice).
Opinion on financial statements
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March
2024 and of its income and expenditure for the year then ended:
have been properly prepared in accordan￿ with United Kingdom Generally Accepted
Accounting Practi￿. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordan￿ with Intemational Standards on Auditing (UK) (ISAS (UKI) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
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 going concern
In auditing the financial stalements. we have concluded that the trustees, use of the going concem
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomed, 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 twelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described
in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the
information included in the annual report other than the financial statements and our auditor's report
thereon. 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 assuran
conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and. in doing 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 misstatement in the financial statements or a
material misstatement of the other infomiation. 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.
11

Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the trustees. report (incorporating the directors, report) for the financial
year for which the financial statements are prepared is consistent with the financial
statements; and
the trustees, report (incorporating the directors, report) have been prepared in accordance with
applicable legal requirements.
Matters on which we are required to report by exception
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, Annual Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires
us to report to you if, in our opinion..
adequate accounting records have not been kept or retums 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 retums., or
certain disclosures of trustees. remuneration specified by law are not made" or
we have not re￿iVed all the information and explanations we require for our audit.
Responsibilities of the trustees
As explained more fully in the Trustees, Responsibilities Statement, the trustees (who are also the
directors of the charitable company for the purposes of company law) are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view and
for such intemal control as they determine is necessary to enable the preparation of financial
statements that are free from material misstatement. whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the Charity's ability to
continue as a going concern, disclosing, as applicable. matters related to going concern and using the
going concem 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.
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole
are free from 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 reasonably be expected to Influen￿ the economic decisions of users tsken on
the basis of these financial statements.
Irregularities. including fraud. are InStan￿S 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 are set out below.
12

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations. our prO￿dureS included the following=
We enquired of management. which included obtaining and reviewing supporting
documentation, concerning the charity's policies and procedures relating to the internal
controls established to mitigate risks related to fraud or non-compliance with laws and
regulations.
We inspected the minutes of meetings of those charged with govemance.
We reviewed the financial statement disclosures and tested these to supporting
documentation to assess compliance with applicable laws and regulations.
In addressing the risk of fraud through management override of controls, we tested the
appropriateness of joumal entries and other adjustments, assessed whether the judgements
made in making accounting estimates are indicative of a potential bias and tested significant
transactions that are unusual or those outside the nomial course of business.
Because of the inherent limitations of an audit. there is a risk that we will not delect all irregularities,
including those leading to a material misstatement in the financial statements or non-compliance with
regulation. The risk is also greater regarding irregularities occurring due to fraud rather than error, as
fraud involves intentional concealment. forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at- [Www.frc.org.u￿audit0rsreSponSibIlit1eSl. This descriplion
forms part of our auditorfs report.
Use of our report
This report is made solely to the charitable company's members. as a body. in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might state to the 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 pennitted 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 fomied.
Date: 30 September 2024
Anthony Epton (Senior Statutory Auditor)
for and on behalf of
Goldwins Limited
Statutory Auditor
Chartered Accountants
75 Maygrove Road
West Hampstead
London NW6 2EG
13

Greenwich Citizens Advice Bureaux Limited
Statement of Financial Activities (incorporating an income and expenditure account)
For the year ended 31 March 2024
2024
Total
Funds
2023
Total
Funds
Unrestricted
Funds
Restricted
Funds
Income from
Donations
Charitable activities
Generalist and debt advi￿ services
Outreach & specialist advice services
Seafarers advice & information line
Other
50
2,215
11,940
2,500
369,000
133.333
446,343
380,940
135,833
446,343
193,975
192,561
424,428
29,327
Total income
14.490
948,676
963,166
842,506
Expenditure on
Charitable activities
Generalist and debt advice services
Outreach & specialist advice seryices
Seafarers advi￿ & information line
9.475
2,739
8.056
327,448
136,678
457,782
336,923
139,417
465,838
287,885
181,464
419,863
Total expenditure
20.270
921,908
942,178
889,212
Net (expenditure)lincome for the year
before transfers
(5.780)
26,768
20,988
(46,706)
Transfer Between Funds
15
6.500
(6,500)
Net incomel(expenditure) before other
recognised gainsl(losses)
720
20,268
20,988
(46,706)
Net movements in funds
720
20,268
20,988
(46,706)
Reconciliation of funds
Total funds brought forward
140.857
50,821
191,678
238,384
Total funds carried forward
141.577
71,089
212,666
191,678
The Statement of Financial Activities includes all gains and losses recognised in the year. All incoming
resources and resources expended derive from continuing activities.
14

Greenwich Citizens Advice Bureaux Limited
Balance Sheet
As at 31 March 2024
2024
2023
Fixed assets
Tangible assets
10
Current assets
Debtors
Cash at bank and in hand
6,727
332,045
44,349
284,958
17
338,TT2
329,307
Liabilities
Creditors: amounts falling due Nmthin one year 12
9,106
11,629)
Net current assets
329.666
317,678
Net assets excluding pension liability
329.666
317,678
Defined benefit pension scheme liability
117.000
126,000
Total net assets
212,666
191,678
The funds of the charity
Restricted funds
Unrestricted funds:
Designated funds
General funds
Pension deficit fund
15
71.089
50,821
25,000
233,577
(117,000)
25,000
241,857
(126,000)
Total unrestricted funds
141.577
140,857
Total funds
212,666
191,678
These financial statements have been prepared in accordan￿ with the provisions applicable to companies
subject to the small companies. regime within Part 15 of the Companies Act 2006. In the opinion of the
trustees, the Company is entitled to these exemptions as a small company.
The financial statements were approved by the Board of Trustees on 18 September. 2024 and signed on their
behalf by:
Ciiidi
Marine And re (Sep 26, 2024 20:57 GMT+ll
Marine Andre
Chair
Cind i Va n Gr33 n Isep 26, 2024 14=21 GMT+ii
Cindy Van Graan
Treasurer
Company Registration No.3346379
The attached notes form part of the financial statements.
15

Greenwich Citizens Advice Bureaux Limited
Statement of cash flows
For the year ended 31 March 2024
Note
2024
2023
Net cash provided by l (used in) operating
activities
16
47,087
(86.303)
Change in cash and cash equivalents in the year
47,087
(86.303)
Cash and cash equivalents at the beginning of the year
284,958
371,261
Cash and cash equivalents at the end of the year
17
332,045
284,958
16

Greenwich Citizens Advice Bureaux Limited
Notes to the Financial Statements
For the year ended 31 March 2024
1 Accounting policies
a Basis of preparation of financial statements
The financial statements have been prepared in accordan￿ with Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006.
The charitable company meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless othe￿iSe stated in the
relevant accounting policy or note.
b Going concern
The trustees consider that there are no material uncertainties about the charitable company's ability to
continue as a going concem. The trustees do not consider that there are any sources of estimation
uncertainty at the reporting date that have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities within the next reporting period.
Income
Income is recognised when the charity has entitlement lo the funds, any performan￿ conditions
attached to the income have been met, it is probable that the income will be received and that the
amount can be measured reliably.
Income from government and other grants, whether'capital, grants or 'revenue' grants, is recognised
when the charity has entitlement to the funds, any performan￿ conditions attached to the grants have
been met. it is probable that the income will be received and the amount can be measured reliably
and is not deferred. Income received in advance for the provision of specified service is deferred until
the criteria for income recognition are met.
d Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the charity has
control over the item or received the service, any conditions associated with the donation have been
met, the receipt of economic benefit from the use by the charity of the item is probable and that
economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102),
volunteer time is not recognised so refer to the trustees. annual report for more information about their
contribution.
On receipt, donated gifts. professional services and donated facilities are recognised on the basis of
the value of the gift to the charity which is the amount the charity would have been willing to pay to
obtain ServI￿S or facilities of equivalent economic benefit on the open market. a corresponding
amount is then recognised in expenditure in the period of receipt.
e Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity- this is normally upon notification of the interest paid or payable by the bank.
17

Greenwich Citizens Advice Bureaux Limited
Notes to the Financial Statements
For the year ended 31 March 2024
1 Accounting policies {continued)
f Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their
discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor
has specified are to be solely used for particular areas of the charity's work or for specific projects
being undertaken by the charity.
g Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third
party, it is probable that settlement will be required and the amount of the obligation can be measured
reliably. Expenditure is classified under the following activity headings=
Costs of raising funds comprise of trading costs and the costs incurred by the charitable company
in inducing third parties to make voluntary contributions to it. as well as the cost of any activities
with a fundraising purpose.
Expenditure on charitable activities includes the costs of delivering services and other activities
undertaken to further the purposes of the charity and their associated support costs. Where costs
cannot be directly attributed. they have been allocated to activities on a basis consistent with their
use of resources.
Premises costs by desk Spa￿ as follows:
Generalist & debt advice services
63.8 %
Outreach & specialist advice servicE
Seafarers, advice & infomiation line
Governance
Support costs
5.3/
0.4°
Other costs of administration are allocated on a per capits basis as follows:
Generalist & debt advi￿ services
34.9 %
Outreach & specialist advice servicE
16.4%
Seafarers, advice & infomiation line
Governance
Support costs
0.2/
Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake
charitable activities. Support costs comprise the salary and overhead costs of the central function.
Govemance costs are the costs associated with the govemance arrangements of the charity. These
costs are associated with constitutional and statutory requirements and include any costs associated
with the strategic management of the charity's activities.
Support and g0Veman￿ costs are re-allocated to each of the activities on the following basis which is
an estimate, based on staff time, of the amount attributable to each activity
Generalist & debt advi￿ services
Outreach & specialist advice ServI￿S
Seafarers, advice & infomiation line
16.5%
18

Greenwich Citizens Advice Bureaux Limited
Notes to the Financial Statements
For the year ended 31 March 2024
1 Accounting policies {continued)
i Operating leases
Rental charges are charged on a straight line basis over the temi of the lease.
j Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is provided
at rates calculated to write down the cost of each asset to its estimated residual value over its
expected useful life. The depreciation rates in use are as follows:
Computer and Offi￿ equipment
Fixtures and fittings
330/0 Straight line basis
33 % straight line basis
k Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid.
I Cash at bank and in hand
Cash at bank and cash in hand includes cash and short temi highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a
past event that will probably result in the transfer of funds to a third party and the amount due to settle
the obligation can be measured or estimated reliably. Creditors and provisions are normally
recognised at their settlement amount after allowing for any trade discounts due.
n Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently measured
at amortised cost using the effective interest method.
Pension funds
The charitable company operated a defined contribution scheme which was a funded scheme and the
assets were held externally of the charity. The company contributed 5.1 % of gross pay to the scheme
for anyone who transferred from the previous scheme. Stakeholder pension arrangements were also
in place for employees not in the NACAB scheme.
From July 2016. the charitable company replaced these pension schemes with an auto enrolment
pension scheme offered to all employees to which they make contributions unless they choose to opt
out. The pension cost charge represents contributions payable by the charitable company to the
scheme. The charitable company has no liability under the scheme other than for the payment of
those contributions.
19

Greenwich Citizens Advice Bureaux Limited
Notes to the Financial Statements
For the year ended 31 March 2024
2 Income from donations
2024
Total
2023
Total
Unrestricted
Restricted
Donations
50
50
2.215
Total income from donations 2024
50
50
2.215
Total income from donations 2023
2.215
3 Income from charitable activities
2024
Total
2023
Total
Unrestricted
Restricted
Generalist & debt advice services
Bureaux staff & running costs {RB Greenwich)
Corporate volunteer (CitA)
Advice delivery (CitA)
Help to Claim {CitA)
Fees
369,000
369,000
2,000
240,000
2.000
15.000
(73,135)
12.110
9.940
9.940
Total bureau services 2024
11.940
369,000
380,940
193,975
Total bureau ServI￿S 2023
12,110
181,865
Outreach & specialist advice services
Advice outreach pilot (RB Greenwich)
Cost of living advice (GLAIRCJ)
Outreach money advice service (Peabody)
Outreach money advice Servi￿ (RB Greenwich)
Debt advice Servi￿ (University of Greenwich)
95.000
34.333
4.000
95,000
36.833
4,000
62,500
26,667
4.000
63,000
36,394
2,500
Total debt advice services 2024
2,500
133,333
135,833
192,561
Total debt advice services 2023
36,394
156,167
Seafarers. advice & infonnation line
Seafarers Hospital Society
The Seafarers, Charity
Greenwich Hospital
Royal NavylRoyal Marines PR {Greenwich Hospital
147,603
141,870
156,870
147,603
141,870
156,870
143,614
121,535
143,615
15,664
Total seafarers. advice & inforniation line 2024
446,343
446,343
424,428
Total seafarers, advice & infonnation line 2023
424,428
Total income from charitable activities 2024
14.440
948,676
963,116
810,964
Total income from charitable activities 2023
48,504
762,460
20

Greenwich Citizens Advice Bureaux Limited
Notes to the Financial Statements
For the year ended 31 March 2024
4 Other income
2024
Total
2023
Total
Unrestricted
Restricted
Compensation
29,327
Total other income 2024
29,327
Total other income 2023
29,327
21

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Greenwich Citizens Advice Bureaux Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Net (expenditure)lincome for the year before transfers
This is stated after chargingl(crediting):
2024
2023
Operating lease rentals:
Equipment
Auditor's remuneration (excluding VAT)
Audit fees
Under accrual in prior year
240
3,562
270
3.230
83
7 Analysis of staff costs. trustee remuneration and expenses. and the cost of key management
personnel
staff costs were as follows:
2024
2023
Salaries and wages
Social security costs
Employer's contribution to defined contribution pension schemes
736,681
66,249
15,782
680,315
64,202
12.822
818,712
757,339
No employee eamed greater than £60,000 during the year (2023: nil).
The total employee benefits including employer National Insurance and pension contributions of the key
management personnel were £162.161 (2023.. £163.461).
The charity trustees were not paid or received any other benefits from employment with the charity in the
year (2023= £nil) neither were they reimbursed expenses during the year {2023.. £nil). No charity trustee
received payment for professional or other services supplied to the charity (2023= £nil).
8 Staff numbers
The average number of employees (head count based on number of staff employed) during the year was
21.3 (2023: 21.2).
The average number of employees (full time equivalent) during the year was as follows:
2024
No
2023
No
Generalist and debt advice services
Outreach & specialist advice ServI￿S
Seafarers, Advice and Information Line
Support and governance
10.0
20.7
20.2
23

Greenwich Citizens Advice Bureaux Limited
Notes to the Financial Statements
For the year ended 31 March 2024
9 Taxation
Greenwich Citizens Advice Bureaux Ltd is exempt from corporation tax liability as all its income is
charitable and is applied for charitable purposes.
10 Tangible fixed assets
Computer &
office
equipment
Fixtures &
fittings
Total
Cost
At 1 April 2023
Disposals
7,560
2,678
(2.678)
10,238
(2.678)
At 31 March 2024
7,560
7.560
Depreciation
At 1 April 2023
Disposals
7,560
2,678
(2.678)
10,238
(2.678)
At 31 March 2024
7.560
7.560
Net book value
At 31 March 2023
At 31 March 2024
All of the above assets are used for charitable purposes.
11 Debtors
2024
2023
Trade debtors
Other debtors
Prepayments
1,892
1,687
3,148
39,214
3,379
1.756
6,727
44,349
12 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Accruals
Other creditors
4,580
4,274
252
4,491
3.876
3,262
9,106
11,629
24

Greenwich Citizens Advice Bureaux Limited
Notes to the Financial Statements
For the year ended 31 March 2024
13 Pension scheme
Citizens Advice ('the Principal Employerf) operates a defined benefit scheme ('the Plan,) in the UK which
provides both pensions in retirement and death benefits to members. Pension benefits are related to the
members, final salaries at retirement and their length of service at the date they retired or left pensionable
servi￿. The Plan closed to future accrual on 31 March 2008. The Plan also contains some money
purchase AVCS and protected rights funds. which are not included in these disclosures.
In accordance with the schedule of contributions agreed by the Employer and Trustee in August 2023, the
contributions to the Plan for the year ending 31 March 2024 have been £5,218,000, which includes
£4,918,000 towards the deficit and £300,000 as an allowance for administration expenses and all scheme
levies.
The Plan is a registered scheme under UK legislation. The Plan is subject to the scheme funding
requirements outlined in UK legislation. The Plan is governed by the Plan's Trust Deed and Rules dated 4
April 2011. The Trustee is responsible for the operation and the govemance of the Plan. including making
decisions regarding the Plan's funding investment strategy (although they are required to consult the
Principal Employer).
An actuarial valuation of the Plan was carried out as at 31 March 2024 by a qualified independent
actuary, based upon membership data as at 31 March 2022, allowing for assumed membership
movements over the period from this date, and any material membership movements significantly
different from those assumed (e.g. transfers out).
The most recent fomial actuarial valuation of the Plan was as at 31 March 2022 and revealed a funding
deficit of £53,536,000. In the recovery plan agreed following the valuation, the Principal Employer and
other participating employers agreed to pay deficit reduction contributions of £2,918,000 per annum with
the view to eliminating the deficit by 30 September 2040.
The liabilities of the Plan are based on the current value of expected benefit payment cashflows to
members of the Plan over the next 60 or more years. The average duration of the liabilities is
approximately 11 years.
The Plan is exposed to actuarial risks such as market (investment) risk, interest rate risk, inflation risk.
currency risk and longevity risk.
14 Analysis of net assets between funds
Unrestricted
funds
Designated
funds
Restricted
funds
Total
funds
Fund balances at 31 March 2024 are represented by:
Current assets
Current liabilities
Defined benefit pension liability
239.758
(6,181)
(117.000)
25,000
74.014
(2,925)
338,772
(9,106)
(117,000)
Total net assets at 31 March 2024
116,577
25,000
71,089
212,666
25

Greenwich Citizens Advice Bureaux Limited
Notes to the Financial Statements
For the year ended 31 March 2024
15 Movements in funds
At 1 April Income and Expenditure
2023
gains
and losses
At 31 March
2024
Transfers
Restricted funds
RB Greenwich: Bureaux services
CitA Advi￿ delivery
RB Greenwich: Outreach advice
services
GLAJRJC Crisis support
Mosaic Family Homes: Charlton
Triangle debt service
Seafarers, Advice & Information Line
-The Seafarers. Hospital Society
-The Seafarers, Charity
-Greenwich Hospital
Greenwich Hospital Royal
NavylRoyal Marines PR
369.000
(312,448)
(15,000)
(6,003)
50,549
15,000
95.000
34,333
(93,490)
(39,188)
(392)
2,466
1,118
(3,634)
(1,245)
4.000
(4,000)
9,268
17,639
(4,494)
147.604
141.869
156.870
(150,126)
(150,126)
(150,126)
(857)
{857)
(857)
5,889
8,525
1,393
14,653
(7,404)
7,249
Total restricted funds
50.821
948,676
(921.908)
(6,500)
71,089
Unrestricted funds
Designated Funds
Contractual commitment
Development
20,000
5,000
25.000
20,000
5,000
25,000
General funds
Pension deficit fund
241,857
(126.000)
14.490
(20,270)
(2,500)
9.000
233,577
(117,000)
Total unrestricted funds
140,857
14,490
{20,270)
6,500
141,577
Total funds
191,678
963,166
(942,178)
212,666
Transfers between funds
Transfers are made from restricted projects to the general fund to reflect their contribution to the defined
benefit pension scheme liability..
Transfers are also made from unrestricted funds to restricted funds of unrestricted income generated by
projects.
Purposes of restricted funds
RB Greenwich: Bureaux services
and debt services
The core services of Greenwich Citizens Advice Bureau. funded by
the Royal Borough of Greenwich (£369,000).
Citizens Advi￿. Advi￿ support
A grant was awarded by the funder from funds raised by the
Guardian Christmas Appeal. The funds have been fully spent on
staffing in the year under review.
26

Greenwich Citizens Advice Bureaux Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Purposes of restricted funds (continued)
RB Greenwich: Outreach advice
The Royal Borough of Greenwich has funded the roll-out of advice
hubs across the borough to offer residents free advice at weekly drop
in sessions. To run the scheme, Greenwich Citizens Advice Bureaux
is partnered by Greenwich Housing Rights and Plumstead
Community Law Centre.
GLAIRCJ Citizens Advice: Crisis
support
The Greater London Authority has made funds available via the lead
partner. the Royal Courts of Justice Citizens Advice, for the delivery
of information, advice and other support to extend outreach. using a
mix of channels (telephone. remote, face to face, outreach) as part
of the of the cost of living crisis prevention project for vulnerable
Londoners. The grant has been extended for another year.
Seafarers, Hospital Societyl
The three funders jointly provide funds for the provision of a
Greenwich Hospital￿he Seafarers. telephone advice line for the relief of seafarers and their families
Charity: Seafarers, Advice &
who are in need. Tthe funders have agreed to the funds being
Information Line
carried forward to use in the year following the year under review.
Seafarers, Hospital Society and the Seafarers Charity have recouped
part of the underspend within the year under review..
Greenwich Hospital.. Royal
NavylRoyal Marines publicity
Greenwich Hospital has set aside part of the its contribution to the
SAIL grant to undertake comms and publicity to raise awareness of
SAIL. specifically to the Royal Navy and Royal Marine communities.
Purposes of designated funds
Contractual commitments
A reserve to ensure that the organisation is able to cover contracted
payments to stsff such as redundancy, provision of locum maternity
cover, and the costs of any disciplinary andlor grievance procedures
which may arise.
Development
Funds to allow the organisation to undertake the development of new
projects and areas of work and to conduct full feasibility studies on
the advisability of such proposals.
16 Reconciliation of net income l (expenditure) to net cash flow from operating activities
2024
2023
Net income for the reporting period
(as per the statement of financial activities)
Decrease in debtors
(Decrease) in creditors
20,988
37,622
{11,523)
(46,706)
38,929
(78,526)
Net cash provided by l (used in) operating activities
47,087
(86,303)
27

Greenwich Citizens Advice Bureaux Limited
Notes to the Financial Statements
For the year ended 31 March 2024
17 Analysis of cash and cash equivalents
2024
2023
Cash at bank and in hand
332,045
284,958
332,045
284,958
18 Operating lease commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
Equipment
2024
2023
Less than 1 year
240
240
19 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. Each member is liable to
contribute a sum not exceeding £1 in the event of the charity being wound up.
20 Related party transactions
There are no related party transactions to disclose for 2024 (2023.. none).
There are no donations from related parties which are outside the nomial course of business and no
restricted donations from related parties.
28

Greenwich Citizens Advice Bureaux Limited
Notes to the Financial Statements
For the year ended 31 March 2024
21 Previous reporting period inforniation
21a Analysis of net assets between funds of previous reporting period
Unrestricted Designated
funds
funds
Restricted
funds
Total
funds
Fund balances at 31 March 2023 are represented by:
Current assets
Current liabilities
Defined benefit pension liability
251,189
(9.332)
(126,000)
25,000
53,118
(2,297)
329.307
(11,629)
(126.000)
Total net assets at 31 March 2023
115,857
25,000
50,821
191,678
21 b Details of movements in funds during the previous reporting period
At 1 April
2022
Income
and gains
Expenditure
and losses
At31
March 2023
Transfers
Restricted funds
RB Greenwich.. Bureaux services
CitA Advi￿ delivery
CitA Help to Claim
RB Greenwich Outreach advice
GLAJRJC CitA Crisis support
RB Greenwich.. Debt advice seNices
SeNi￿S
Mosaic Family Homes: Chadton Triangle
debt servi
Seafarers, Advice & Infomialion Line
-The Seafarers. Hospital Society
-The Seafarers. Charity
-Greenwich Hospital
Fishing specialist
-The Seafarers. Hospital Society
-The Seafarers. Charity
Greenwich Hospital Royal NavylRoyal
Marines PR
200,000
15,000
{73,135)
62,500
26,667
40,000
63,000
(199,657)
(343)
15.000
73.135
(73,926)
(27,472)
(46,565>
(72,706)
11.426
(440)
6,565
9.706
(1,245)
4,000
(4,000)
2,870
11,241
11.241
143,614
143,615
121,535
(137,270)
(137,271)
(137,270)
54
54
9,268
17,639
{4,494)
(54)
(54)
15,664
(1,011)
14.653
Total restricted funds
98.595
762,460
(837,148)
26,914
50,821
Unrestricted funds
Designated Funds
Contractual commitment
Development
20,000
5.000
25,000
249.789
(135.000)
20,000
5,000
25,000
241,857
{126,000)
General funds
Pension deficit fund
80,046
(52,064)
(35,914)
9,000
Total unrestricted funds
139,789
80.046
{52.064)
(26,914
140,857
Total funds
238,384
842,506
(889,212)
191,678
29

GCABX financial statements 2024 (2)
Final Audit Report
2024-09-26
Created..
2024-09-26
Cindi Van Graan l(indi.vangraan@(2rbonlawpartners.c(Mnl
Stalus..
Signed
Transaction ID..
CBJCHBCAABMry14FfqCxbnZDV&lGjeblxBZMtNWd1Uw
"GCABX financial statements 2024 (2)" History
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