Citizens Advice Greenwich Ltd
(a company limited by guarantee)
Financial Statements
For the year ended 31 March 2025
Company No. 03346379 (England and
Wales) Charity No. 1064404

Citizens Advice Greenwich Ltd
Index to the Financial Statements
For the year ended 31 March 2025
Contents
Reference and administrative details
Report of the Trustee Board
Independent auditor's report
Statement of financial activities
Balance sheet
Statement of cash flows
Notes to the financial statements
Previous reporting period information
2
3
11
14
15
16
17
28
1

Citizens Advice Greenwich Ltd
For the year ended 31 March 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
The following served as company directors and charity trustees during the year:
Appointed
Resigned
Sean Craddock
Andriy Voshchevskyy
Cindi Van Graan
Marine Andre
Rachel Dabiri
Alex Jones
Amanda Stone
Edward Walker
Chair
Vice Chair
Treasurer
13.09.2023
25.01.2023
21.11.2022
17.05.2021
06.01.2025
08.11.2021
27.01.2025
27.01.2025
28.03.2022
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 2024.
Bankers
Unity Bank
2

Citizens Advice Greenwich Ltd
For the year ended 31 March 2025
Report of the Trustee Board
The Trustees present their Report and the Financial Statements for the year ended 31 March
2025.
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.
OBJECTIVES AND ACTIVITIES
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 affect 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 [1] To improve people's quality of life by providing effective high quality
information, advice and casework services to people in the Borough of Greenwich, and
seafarers and their dependants in the UK.
Objective [2] To create Social Value for the community of local people and for seafarers and
their dependants 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.
3

Citizens Advice Greenwich Ltd
For the year ended 31 March 2025
Activities
- 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
STRUCTURE, GOVERNANCE AND MANAGEMENT
Citizens Advice Greenwich Ltd (CAG) is a registered charity and a company limited by
guarantee, governed by its Memorandum and Articles of Association. At the AGM on 27th
January 2025 the Trustee Board agreed to change the organisation's name from Greenwich
Citizens Advice Bureaux Ltd to Citizens Advice Greenwich Ltd (CAG). 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 suitable
candidate is interviewed 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 CAG, going on any
relevant courses, being shown the offices, meeting the staff and sitting in on advice
sessions. There is a thorough induction process in place.
The Trustee Board currently meets five times a year. Meetings are attended by the Chief
Executive, a minute-taker and a staff representative. 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 setting 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 staff 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.
4

Citizens Advice Greenwich Ltd
For the year ended 31 March 2025
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 Act 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 Trustees make the following observations on the two key
principles of public benefit:
Principle 1: 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 - no specific issues of
detriment or harm have been identified.
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 fees charged.
- People in poverty must not be excluded from the opportunity to benefit - the
charity's services are provided free to beneficiaries.
- Any private benefits must be incidental — 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-product of carrying out the charity's aims.
5

Citizens Advice Greenwich Ltd
For the year ended 31 March 2025
ACHIEVEMENTS AND PERFORMANCE IN THE YEAR 2024-25
In the year 2024-25 CAG provided high quality advice services to people in the Royal
Borough of Greenwich and to seafarers and their families across the United Kingdom. CAG
advice services benefit the local community and seafarers and their dependants in many
ways including tackling poverty, reducing debt, preventing homelessness, promoting
equality and challenging discrimination.
In 2024-25 CAG delivered advice to 2,518 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 10,000 issues. £1.9 million in financial outcomes was identified for our clients.
This figure includes debt write-offs, benefit and tax credit entitlement (calculated over one
year) and lump sums and charitable grants. 359 cases of homelessness were prevented.
As a member of the National Citizens Advice Service for England and Wales, CAG 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 three years. CAG 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. There is also a volunteer adviser training
programme.
The core generalist and debt advice service is funded by The Royal Borough of Greenwich
(RBG). RBG also fund the volunteer training and development programme. RBG and The
Big Lottery/Clockhouse provide funding for the Hubs outreach advice service.
The Advising London Partnership is funded by the GLA and is run by the Citizens Advice
London consortium. CAG has an adviser providing outreach advice as part of this
collaboration.
In 2024, CAG received funding from SE London MIND to deliver housing advice as part of a
partnership project in Greenwich for people with mental health issues. The project is
working well and we have funding for another year.
CAG has a contract with We are Digital to provide debt and money management services to
L&Q tenants through the Pound Advice project. In addition, Peabody provides funding for
a debt advice outreach session in Charlton.
CAG 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 is 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.
6

Citizens Advice Greenwich Ltd
For the year ended 31 March 2025
SAIL is funded by Seafarers Hospital Society, The Seafarers' Charity and Greenwich Hospital
and CAG very much appreciates their support.
All at CAG greatly appreciate the continued financial support of the Royal Borough of
Greenwich, the Seafarers Hospital Society, The Seafarers' Charity, Greenwich Hospital,
Peabody, We are Digital/L&Q, The Big Lottery, Clockhouse, GLA, SE London MIND, Citizens
Advice and all of our other funders and supporters.
CAG continues to progress positively and we shall try to meet the needs of seafarers and
their dependants and all those in Greenwich who require advice from us. Our aim is to seek
appropriate funding to maintain and develop our service over the coming year.
Plans for Future Periods
The CAG Strategic Plan for 2025-28 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 CAG Strategic Plan is reviewed annually.
The CAG Strategic Plan states our mission, objectives and activities as set out above.
In 2025-28 we will prioritise developing all advice services to meet demand for advice, which
we anticate will be great due to the continuing cost of living situation and housing issues
across the country. We will aim to secure funding to increase advice capacity at SAIL and
for the Greenwich Services.
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 detail:
- Finance
- Governance
Management
-
Service Delivery
- Social policy (Research and Campaigning)
-
Stakeholder relationships
- Engagement with the wider service
IT/systems
Premises
- Information Assurance
7

Citizens Advice Greenwich Ltd
For the year ended 31 March 2025
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.
The risk assessment is reviewed at each Board meeting under confidential business. The
Chair, Board and CEO are currently working to improve the Risk Assessment process to
make it as user-friendly and effective as possible.
Reserves Policy
Reserves are held to help the charity operate effectively. The CAG 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 Trustee 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 target 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 target, 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;
- 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 policy or level of reserves held.
In this way the Trustees are aware of the build up of excess reserves or of reserves being
unexpectedly or rapidly depleted.
The CAG 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 in order 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.
8

Citizens Advice Greenwich Ltd
For the year ended 31 March 2025
There are now no designated reserves, but minimum unrestricted funds have been set as
follows:
- Continuation of operation - The trustees consider that it would be prudent to aim
to set aside an amount equivalent to one month's operating expenditure or £100,000,
whichever is the greater. This level of reserves is deemed to be an achievable target.
- Contractual commitment reserve - a reserve to ensure that the organisation is
able to cover contracted payments to staff such as redundancy, provision of locum
maternity cover, and the costs of any disciplinary and/or grievance procedures which
may arise. At least £20,000 is agreed as a target.
- Development reserve - a reserve 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. At least E5,000 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.
Financial Position and Available Funds
The statement of financial activities shows a total deficit for the year of £17,052 (2024: a
surplus of E20,988). Reserves at 31 March 2025 were £113,316 (2024: £141,577) of
unrestricted reserves and E81,848 (2024: E71,089) of restricted funds required to finance
ongoing restricted funded programmes and activities. Included in restricted funds are
underspent grants which have been agreed to carry forward for ongoing projects
TRUSTEES' RESPONSIBILITIES 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.
9

Citizens Advice Greenwich Ltd
For the year ended 31 March 2025
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 detection of fraud and other irregularities
Approved by the Trustee Board on 8 September 2025 and signed on its behalf by
paR
Sean Craddock
Chair
10

Independent Auditor's Report
To the members of Citizens Advice Greenwich Ltd
Opinion
We have audited the financial statements of Citizens Advice Greenwich Ltd for the year ended
31 March 2025 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 Accounting 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
2025 and of its income and expenditure for the year then ended:
• have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs
(UK)) and applicable law. Our responsibilities under those standards are further described in
the 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 statements, we have concluded that the trustees' use of the going
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties
relating to events or conditions that, individually or collectively, may cast significant doubt on
the charity's ability to continue as a going concern for a period of at least 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 assurance 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 information 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 information. If, based on the work
11

Independent Auditor's Report
To the members of Citizens Advice Greenwich Ltd
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.
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) has 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 returns adequate for our audit
have not been received from branches not visited by us; or
• the financial statements are not in agreement with the accounting records and returns;
or
• certain disclosures of trustees' remuneration specified by law are not made; or
• we have not received all the information and explanations we require for our audit.
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 internal 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 concern basis of accounting unless the trustees either intend to
liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance 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
influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities, outlined above, to detect material
12

Independent Auditor's Report
To the members of Citizens Advice Greenwich Ltd
misstatements in respect of irregularities, including fraud. The extent to which our procedures
are capable of detecting irregularities, including fraud are set out below.
In identifying and assessing risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, our procedures included the following:
• We enquired of management, which included obtaining and reviewing supporting
documentation, concerning the charity's policies and procedures relating to:
• identifying, evaluating, and complying with laws and regulations and whether
• Detecting and responding to the risks of fraud and whether they have
knowledge of any actual, suspected, or alleged fraud;
• 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 governance.
• We obtained an understanding of the legal and regulatory framework that the charity
operates in, focusing on those laws and regulations that had a material effect on the
financial statements or that had a fundamental effect on the operations of the charity
from our professional and sector experience.
• We reviewed the financial statement disclosures and tested these to supporting
documentation to assess compliance with applicable laws and regulations.
• We performed analytical procedures to identify any unusual or unexpected
relationships that may indicate risks of material misstatement due to fraud.
• In addressing the risk of fraud through management override of controls, we tested the
appropriateness of journal 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 normal course of
business.
A further description of our responsibilities for the audit of the financial statements is located
on the Financial Reporting Councils website at: [www.frc.org.uk/auditorsresponsibilities]. This
description forms part of our auditor's 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 permitted by law, we do
not accept or assume responsibility to anyone other than the charity and the charity's members
as a body, for our audit work, for this report, or for the opinions we have formed.
Anthony Epton
Anthony Epton (Senior Statutory Auditor)
for and on behalf of
Goldwins Limited
Statutory Auditor
Chartered Accountants
75 Maygrove Road
West Hampstead
London NW6 2EG
Date: 16 September 2025
13

Citizens Advice Greenwich Limited
Statement of Financial Activities (incorporating an income and expenditure account)
For the year ended 31 March 2025
Income from
Donations
Charitable activities
Generalist and debt advice services
Outreach & specialist advice services
Seafarers advice & information line
Total income
Expenditure on
Charitable activities
Generalist and debt advice services
Outreach & specialist advice services
Seafarers advice & information line
Total expenditure
Net (expenditure)/income for the year
before transfers
Transfer Between Funds
Net movements in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Unrestricted
Funds
Notes
2
3
20
4,694
600
-
-
5,314
5
-
15,606
4,476
10,896
30,978
15
(25,664)
(2,597)
(28,261)
-
141,577
113,316
Restricted
Funds
-
369,000
167,107
448,908
985,015
340,045
177,935
458,873
976,853
8,162
2,597
10,759
71,089
81,848
2025
Total
Funds
€
20
373,694
167,707
448,908
990,329
355,651
182,411
469,769
1,007,831
(17,502)
(17,502)
212,666
195,164
2024
Total
Funds
50
380,940
135,833
446,343
963,166
336,923
139,417
465,838
942,178
20,988
20,988
191,678
212,666
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

Citizens Advice Greenwich Ltd
Balance Sheet
As at 31 March 2025
2025
2024
Notes
Fixed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
10
11
17
37,821
522,644
560,465
Liabilities
Creditors: amounts falling due within one year
12 (257,301)
Net current assets
Net assets excluding pension liability
Defined benefit pension scheme liability
Total net assets
The funds of the charity
Restricted funds
Unrestricted funds:
Designated funds
General funds
Pension deficit fund
15
221,316
(108,000)
Total unrestricted funds
Total funds
-
303,164
303,164
(108,000)
195,164
81,848
113,316
195,164
6,727
332,045
338,772
(9,106)
25,000
233,577
(117,000)
-
329,666
329,666
(117,000)
212,666
71,089
141,577
212,666
These financial statements have been prepared in accordance 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 8 September, 2025 and signed on their
behalf by:
Sean Craddock fue s
Chair
15 Sep 2025
Company Registration No.3346379
The attached notes form part of the financial statements.
15
Andriy Voshchevskyy Ale
Acting Treasurer
15 Sep 2025

Citizens Advice Greenwich Ltd
Statement of cash flows
For the year ended 31 March 2025
Note
16
Net cash provided by / (used in) operating
activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
17
2025
190,599
190,599
332,045
522,644
2024
47,087
47,087
284,958
332,045
16

Citizens Advice Greenwich Ltd
Notes to the Financial Statements
For the year ended 31 March 2025
1 Accounting policies
a Basis of preparation of financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK 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 otherwise 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 concern. 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.
c Income
Income is recognised when the charity has entitlement to the funds, any performance 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 performance 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 services 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

Citizens Advice Greenwich Ltd
Notes to the Financial Statements
For the year ended 31 March 2025
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 space as follows:
Generalist & debt advice services
Outreach & specialist advice service
Governance
Support costs
61.2%
35.8%
0.5%
2.5%
Other costs of administration are allocated on a per capita basis as follows:
Generalist & debt advice services
32.7%
Outreach & specialist advice service
19.1%
Seafarers' advice & information line
46.6%
Governance
0.3%
Support costs
1.3%
• 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.
Governance costs are the costs associated with the governance 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 governance 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 advice services
Outreach & specialist advice services
Seafarers' advice & information line
33.2%
19.4%
47.4%
18

Citizens Advice Greenwich Ltd
Notes to the Financial Statements
For the year ended 31 March 2025
1 Accounting policies (continued)
i Operating leases
Rental charges are charged on a straight line basis over the term 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 office equipment
33% straight line basis
Fixtures and fittings
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 term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
m 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

Citizens Advice Greenwich Ltd
Notes to the Financial Statements
For the year ended 31 March 2025
2 Income from donations
Restricted
€
-
-
Donations
Total income from donations 2025
Total income from donations 2024
3 Income from charitable activities
Unrestricted
20
20
50
Generalist & debt advice services
Bureaux staff & running costs (RB Greenwich)
Corporate volunteer (CitA)
Fees
Total bureau services 2025
Total bureau services 2024
Outreach & specialist advice services
Advice outreach (RB Greenwich)
--RB Greenwich
--Clockhouse
Cost of living advice (GLA/RCJ)
Outreach money advice service (Peabody)
Housing and mental health advice (MIND)
Total debt advice services 2025
Total debt advice services 2024
Seafarers' advice & information line
Seafarers Hospital Society
The Seafarers' Charity
Greenwich Hospital
Total seafarers' advice & information line 2025
Total seafarers' advice & information line 2024
Total income from charitable activities 2025
Total income from charitable activities 2024
Unrestricted
€
:
4,694
4,694
11,940
:
600
2,500
:
5,294
14,440
Restricted
369,000
369,000
369,000
61,401
13,000
42,630
4,000
46,076
167,107
133,333
148,647
147,119
153,142
448,908
446,343
985,015
948,676
20
2025
Total
20
20
2025
Total
369,000
4,604
373,694
61,401
13,000
43,230
4,000
46,076
167,707
148,647
147,119
153,142
448,908
990,309
2024
Total
50
50
2024
Total
369,000
2,000
9,940
380,940
95,000
36,833
4,000
135,833
147,603
141,870
156,870
446,343
963,116

Citizens Advice Greenwich Ltd
Notes to the Financial Statements
For the year ended 31 March 2025
5 Analysis of expenditure
Salaries
Recruitment
Finance service
Other staff costs
Volunteer expenses and training
Premises and equipment
Relocation
Office overheads
Project costs
Partnerships
Indemnity insurance
Marketing and website
Audit and compliance
Support costs
Governance costs
Total expenditure 2025
Charitable activities
Generalist &
debt advice
services
Outreach &
specialist
services
Seafarers'
advice &
information
line
290,045
355
5,639
2,417
192
20,804
12,707
8,540
3,985
812
177
345,673
7,126
2,852
355,651
145,362
355
3,358
1,171
12,190
7,445
4,510
1,597
476
103
-
176,567
1.672-
182,411
Governance
361,325
9,042
8,441
27,753
16,704
15,189
3,990
1,157
11,943
455,544
10,156
4,069
469,769
13
158
96
59
17
7,144
8,593
(8.593)
Prior year
Unrestricted direct expenditure
Restricted direct expenditure
Unrestricted support & governance costs allocatec
Restricted support & governance costs allocated
Total expenditure 2024
3,635
325,594
135,794
5,840
2,739
1,854
884
336,923
139,417
455,181
8,056
2,601
465,838
1,016
5,339
(1,016)
(5,339)
Of the total expenditure in 2025, £30,978 was unrestricted (2024: £20,270) and £976,853 was restricted (2024: £921,908).
Support
costs
20,236
85
(1,065)
22
(192)
89
2,009
33
-
21,454
(21,454)
15,619
(15,619)
2025
Total
818,024
710
18,312
12,127
192
59,840
36,974
28,106
9,678
2,009
2,484
12,231
7,144
1,007,831
1,007,831
2024
Total
818,712
18,904
11,305
117
34,696
3,673
21,906
9,928
496
2,394
14,661
5,386
942,178
942,178

Citizens Advice Greenwich Ltd
Notes to the Financial Statements
For the year ended 31 March 2025
6 Net (expenditure)/income for the year before transfers
This is stated after charging/(crediting):
2025
2024
Auditor's remuneration (excluding VAT)
Audit fees
Under accrual in prior year
3,867
238
3,230
83
7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management
personnel
Staff costs were as follows:
Salaries and wages
Social security costs
Employer's contribution to defined contribution pension schemes
2025
732,906
66,904
18,214
818,024
2024
736,681
66,249
15,782
818,712
No employee earned greater than £60,000 during the year (2024: nil).
The total employee benefits including employer National Insurance and pension contributions of the key
management personnel were £150,031 (2024: £162, 161).
The charity trustees were not paid or received any other benefits from employment with the charity in the
year (2023: Enil) neither were they reimbursed expenses during the year (2024: Enil). No charity trustee
received payment for professional or other services supplied to the charity (2024: Enil).
8 Staff numbers
The average number of employees (head count based on number of staff employed) during the year was
23.8 (2024: 21.3).
The average number of employees (full time equivalent) during the year was as follows:
Generalist and debt advice services
Outreach & specialist advice services
Seafarers' Advice and Information Line
Support and governance
6.6
3.9
9.4
0.3
20.2
2024
No
7.2
3.4
10.0
0.1
20.7
22

Citizens Advice Greenwich Ltd
Notes to the Financial Statements
For the year ended 31 March 2025
9 Taxation
Citizens Advice Greenwich is exempt from corporation tax liability as all its income is charitable and is
applied for charitable purposes.
10 Tangible fixed assets
Cost
At 1 April 2024
Additions in year
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for year
Disposals
At 31 March 2025
Net book value
At 31 March 2024
At 31 March 2025
All of the above assets are used for charitable purposes.
11 Debtors
Computer
& office
equipment
€
7,560
(5,040)
2,520
7,560
(5,040)
2,520
:
Total
7,560
(5.040)
2,520
7,560
(5,040)
2,520
Trade debtors
Other debtors
Prepayments
2025
27,439
4,678
5,704
37,821
2024
1,892
1,687
3,148
6,727
12 Creditors: amounts falling due within one year
Trade creditors
Accruals
Other creditors
Deferred income
2025
47,683
16,307
1,265
192,046
257,301
2024
4,580
4,274
252
9,106
23

Citizens Advice Greenwich Ltd
Notes to the Financial Statements
For the year ended 31 March 2025
13 Pension scheme
Citizens Advice ('the Principal Employer") 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
service. 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 2025 have been £3,218,000, which includes
£2,918,000 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 governance 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 2025 by a qualitied 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 formal 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 10 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
Restricted
funds
funds
€
Total
funds
€
Fund balances at 31 March 2025 are represented by:
Current assets
Current liabilities
Defined benefit pension liability
Total net assets at 31 March 2025
251,328
(30,012)
(108,000)
113,316
309,137
(227,289)
81,848
560,465
(257,301)
(108,000)
195,164
24

Citizens Advice Greenwich Ltd
Notes to the Financial Statements
For the year ended 31 March 2025
15 Movements in funds
At 1 April Income and Expenditure
2024
gains
and losses
At 31 March
2025
Restricted funds
RB Greenwich: Bureaux services
Outreach advice services
-Royal Borough of Greenwich
-Clockhouse
GLA/RJC Crisis support
MIND: Housing & mental health
advice
Mosaic Family Homes: Charlton
Triangle debt service
Seafarers' Advice & Information Line
-The Seafarers' Hospital Society
-The Seafarers' Charity
--Greenwich Hospital
Greenwich Hospital Royal
Navy/Royal Marines PR
50,549
1,118
(3,634)
Total restricted funds
5,889
8,525
1,393
7,249
71,089
Unrestricted funds
Designated Funds
Contractual commitment
Development
General funds
Pension deficit fund
Total unrestricted funds
20,000
5,000
25,000
233,577
(117,000)
141,577
Total funds
212,666
Transfers
369,000
61,401
13,000
42,630
46,076
4,000
148,647
147,119
153,142
985,015
(340,044)
(62,198)
(12,605)
(48,020)
(51,112)
(4,000)
(151,230)
(151,230)
(151,230)
(5,184)
(976,853)
5,314
...
(30,978)
5,314
(30,978)
990,329
(1,007,831)
(5,658)
(321)
6,472
4,679
-
(858)
(858)
(858)
(1)
2,597
(20,000)
(5,000)
(25,000)
13,403
9,000
(2,597)
Transfers between funds
Transfers are made from the general fund to cover deficits on restricted projects.
73,847
-
395
(2,552)
(357)
-
2,448
3,556
2,447
2,064
81,848
:
.
221,316
(108,000)
113,316
195,164
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 Citizens Advice Greenwich, funded by the
Royal Borough of Greenwich (£369,000).
25

Citizens Advice Greenwich Ltd
Notes to the Financial Statements
For the year ended 31 March 2025
Purposes of restricted funds (continued)
RB Greenwich & Clockhouse:
Outreach advice
GLA/RCJ Citizens Advice: Crisis
support
MIND Housing and mental health
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, Citizens Advice Greenwich is
partnered by Greenwich Housing Rights and Plumstead Community
Law Centre. Clockhouse has also contributed some funding to this
project.
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.
Funding has been provided for The Greenwich Mental Health Hub
service to increase the level of support for people with moderate to
severe mental health needs to enable them to maintain a good level
of mental health. Within this, CAG will provide advice, support or
guidance on housing and other generalist advice needs to prevent
homelessness
secure stable and appropriate long-term
accommodation.
Seafarers' Hospital Society/
The three funders jointly provide funds for the provision of a
Greenwich Hospital/The Seafarers' telephone advice line for the relief of seafarers and their families
Charity: Seafarers' Advice &
who are in need. The 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
Navy/Royal 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.
16 Reconciliation of net income / (expenditure) to net cash flow from operating activities
Net income for the reporting period
(as per the statement of financial activities)
(Increase)/decrease in debtors
Increase/(Decrease) in creditors
Net cash provided by / (used in) operating activities
2025
€
(17,502)
(31,094)
239,195
190,599
2024
20,988
37,622
(11,523)
47,087
26

Citizens Advice Greenwich Ltd
Notes to the Financial Statements
For the year ended 31 March 2025
17 Analysis of cash and cash equivalents
Cash at bank and in hand
2025
€
522,644
522,644
2024
332,045
332,045
18 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.
19 Related party transactions
There are no related party transactions to disclose for 2025 (2024: none).
There are no donations from related parties which are outside the normal course of business and no
restricted donations from related parties.
27

Citizens Advice Greenwich Ltd
Notes to the Financial Statements
For the year ended 31 March 2025
20 Previous reporting period information
20a Analysis of net assets between funds of previous reporting period
Unrestricted
funds
Designated
Restricted
funds
funds
€
Fund balances at 31 March 2024 are represented by:
Tangible fixed assets
Current assets
Current liabilities
Defined benefit pension liability
Total net assets at 31 March 2024
239,758
(6,181)
(117,000)
116,577
25,000
:
74,014
(2,925)
25,000
71,089
20b Details of movements in funds during the previous reporting period
At 1 April
2023
Income Expenditure
and gains
and losses
Restricted funds
RB Greenwich: Bureaux services
CitA Advice delivery
RB Greenwich: Outreach advice
services
GLA/RJC 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 Navy/Royal
Marines PR
15,000
369,000
(1,245)
-
9,268
17,639
(4,494)
14,653
50,821
95,000
34,333
4,000
147,604
141,869
156,870
-
Total restricted funds
Unrestricted funds
Designated Funds
Contractual commitment
Development
948,676
(312,448)
(15,000)
(93,490)
(39,188)
(4,000)
(150,126)
(150,126)
(150,126)
(7,404)
(921,908)
General funds
Pension deficit fund
Total unrestricted funds
Total funds
20,000
5,000
25,000
241,857
(126,000)
140,857
191,678
-
-
14,490
(20,270)
14,490
963,166
(20,270)
(942,178)
28
Total
funds
338,772
(9,106)
(117,000)
212,666
At 31
Transfers March 2024
(6,003)
-
(392)
2,466
-
(857)
(857)
(857)
-
(6,500)
50,549
-
1,118
(3,634)
-
5,889
8,525
1,393
7.249
71,089
-
(2,500)
9,000
6,500
20,000
5,000
• -
25,000
233,577
(117,000)
141,577
212,666