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2024-03-31-accounts

Registered number: 3438957 Charity number: 1064862

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 8
Independent examiner's report 9 - 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 31

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees S Connelly, Chair, until September 2023 (resigned 18 October 2023)
S Pinnell, Interim Chair, from January 2024 (appointed 6 January 2024, resigned
1 August 2024)
J Deacon
D Podd
T Cox
A Blaga
L Evans
J Riley (resigned 18 April 2024)
I Williamson
E Bryant (appointed 27 August 2024)
T Griffin (appointed 6 August 2024)
Company registered
number
3438957
Charity registered
number
1064862
Registered office
Tower House
17 Tower Street
Ipswich
Suffolk
IP1 3BE
Bankers
CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

Page 1

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

The Charity also trades under the name Citizens Advice Bureau.

Objectives and activities

a. Policies and objectives

The charity’s objectives are to promote any charitable purpose for the benefit of the community in Ipswich, by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Objectives, Strategies and Activities for the Year

Ipswich and District Citizens Advice Bureau provides free, confidential, impartial and independent advice and information for the benefit of the local community to exercise a responsible influence on the development of social policies and services and to ensure individuals do not suffer through a lack of knowledge or an inability to express their express their needs effectively.

The cost of living squeeze has continued to affect households across the country; those areas of deprivation have been particularly impacted. This has resulted in increased pressures on our services as we are a main gateway for accessing Charitable Support. Many of our statutory colleagues have continued to work remotely with reduced or no face-to-face services open for clients.

There are financial pressures on VCFSE colleagues across the area, many of who are having reduce or close their services, resulting in more clients seeking support from ourselves.

In addition to the continuing provision of quality assured advice services to the local community the primary objectives for the year were to increase capacity of the team to meet the additional needs and continue maintain the partnership with IESCCG and other funders.

Page 2

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (continued)

c. Public Benefit

The Trustees have paid due regard to the Charity Commission’s guidance on public benefit in deciding the activities undertaken by the local Citizens Advice during the year. The Trustees are satisfied that the information provided in the report and accounts meets in the public benefit reporting requirements. The principal activity of Citizens Advice Ipswich remained the provision of free, confidential, independent and impartial advice, information and counsel for members for the public. This is provided Monday to Friday through the central office in 19 Tower Street, Ipswich, (from June 2023 at Tower House, 17 Tower Street, Ipswich)

In addition to generalist advice, the following specialist advisory services were provide:

We are Gateway partners for and administer a number of charitable support options

d. Volunteers

The charity receives help and support in the form of voluntary assistance in advising the public and administering the charity. 38 volunteers contributed approximately 5,630 hours of work to the local Citizens Advice during the year. We estimate the value of this help £162,568 in respect of the current year (2023/2024). (2022/23 8,253 hours of volunteering £226,960)

Achievements and performance

a. Achievements and performance

Citizens Advice Ipswich moved premises during the year to the next door property of Tower House, 17 Tower Street, Ipswich. It was recognised that the organisation had outgrown the previous accommodation despite increasing the occupancy within No 19 Tower Street. As the business had expanded and the number of additional contracts to deliver services had increased the staffing numbers considerably far more suitable accommodation was required.

The move was not insignificant as the charity had been in the same premises for 48 years, there were costs associated with the move, these had been identified and reserves set aside to support.

Page 3

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance (continued)

b. Charitable Activities

The key achievements in the year have been: We continued to deliver services despite demands being higher than ever. We expanded our Social Prescribing activities to support patients identified as requiring intensive multi-discipline support to prevent them requiring hospitalisation. We continued to support clients with Long Covid, meeting their social and economic needs.

Citizens Advice Ipswich took part in a partnership pilot with Yorkshire Building Society, providing advice and support for their customers in their offices each week.

We have worked in partnership with Cadent energy on a pilot providing advice on ways to reduce expenditure and secure better value for clients facing fuel poverty.

Charitable Support and food, bank assistance remained the top reason clients asked for support (2,546 clients 6,033 issues) Welfare Benefits was very closely the second reason (2,455 clients 6,992 issues).

The Money Advice Team, were presented with over £4million worth of debt, they continued to support clients and have written off £1,059,063 worth of debt. The team undertook 57 Debt Relief Orders and 8 bankruptcies. We have seen many households are presenting with negative budgets and unable to meet their financial commitments.

Citizens Advice Ipswich achieved 9,998 client contacts with 39,744 issues in 2023/24 (2022/233: 6,637 client contacts with 28,301 issues). We are aware that we are unable to meet the full demand we are experiencing, we are continually reviewing our procedures and looking at ways to be more efficient, ensuring that we continue to meet vulnerable client needs.

We have continued to support local charitable trusts as an agent in the administration of grants payable to individual clients as shown in the notes to the financial statements. The grants have a range of different criteria that advisers consider in line with client circumstances.

c. Factors relevant to achieve objectives

The charity is very aware of the financial pressures experienced by its major funders and in view of this has taken active measures to seek additional sources of income for its services. We were successful in an application for a grant for Cost of Living impacts from the National Lottery that has assisted in meeting our shortfalls in deliver of Core services this year.

d. Fundraising activities and income generation

Total Income for the year was £986,135. £977,781 was charitable activities, donations, legacies and grants.

e. Investment policy and performance

The charity does not currently hold material investments.

Page 4

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance (continued)

Financial review

a. Financial review

Income in the year was £986,135 (2022/23: £892,147) of which £753,869 (2022/23: £694,688) related to project restricted activities.

Expenditure in the year amounted to £959,722 (2022/23: £865,145) comprised in large part to salaries for our employed staff £741,675 (2022/23: £709,398). It has been necessary to increase the numbers of paid advisers to supplement the volunteer advisers to meet increased demands.

b. Reserves policy

Citizens Advice Ipswich is required to ensure that free monies are available in each financial year to meet any reasonably foreseeable contingency. We will maintain a projection of income for at least 3 years ahead and will ensure that this continues to be derived from as wide a variety of sources possible.

We will take all necessary steps to ensure that at no time within this period would it be possible for the cessation of one or more funding streams to present so serious a challenge to the future of the organization that it could not be managed to continue to provide a best value advice service.

In reviewing the potential costs that could arise should a significant reduction in income be incurred that Trustees have determined that ‘free’ reserves of £430,000 should be maintained which is broadly equal to 6 months’ future budgeted operating expenditure of our combined core and project services.

The charity’s actual free reserves on 31 March 2024 were £315,611 (2023: £269,734). Reasons for holding funds outlined in the notes to the accounts. The charity aims to rectify the shortfall in the coming years and will monitor the position on an ongoing basis. Reserves were used to facilitate the move to larger premises, this situation should not arise again in the foreseeable future.

In the event of a project loosing funding the Trustees would undertake redundancy procedures on unfunded posts to reduce running costs.

c. Principal funding

The Directors extend their gratitude to Ipswich Borough Council, Suffolk and North East Essex Integrated Care Board, Suffolk County Council, The Rope Trust and Babergh District Council who continued to support core operating capacity of the charity. This year we have been extremely grateful to the National Lottery for awarding us a Cost of Living grant to help meet the gap between our funding and the increased expenditure experienced due to higher salary and service costs.

Additional, project restricted funding was received from The Money Advice and Pensions Service in support of debt advice work, East Suffolk Council (on behalf of SNEE) for the Connect for Health program, East Suffolk and North Essex Foundation Trust for Social Prescribing within the REACT and Long Covid teams, The National Lottery for funding specialist Welfare Benefits Advice, Cadent Energy for energy advice, Yorkshire Building Society and Suffolk Community Foundation for the supporting vulnerable households free fuel poverty. The charity did not have any borrowings from either provider of funding or other sources at the balance sheet date.

Page 5

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

d. Plans for the Future

In 2023 we re-located premises to Tower House, 17 Tower Street to accommodate our every increasing team. The premises requires considerable updating and modernising which will improve the environment for the team. Citizens Advice Ipswich are working in partnership with St Mary Le Tower PCC to attract grant funding (Heritage Lottery) and other appropriate grants to undertake improvements. As anchor tenants the increased rent to the PCC facilitates additional improvements to the property.

In 2024/25 we will continue to provide both specialist and generalist advice and guidance to the community of Ipswich and surrounding areas.

We are looking to retain and secure continued Core Services funding raising awareness of the increased demands from outside of the Ipswich Borough footprint to statutory body partners. We continue to seek and extend our project contracts where possible.

The sad loss of our previous chairman Sophie Connelly has been felt by the trustees and Citizens Advice team. The need for a new chair of the Trustee Board who can champion the charity is a priority.

Structure, governance and management

a. Governing Document

Ipswich and District Citizens Advice Bureau is a registered charity and a company limited by guarantee. Ipswich and District Citizens Advice Bureau is also known and referred to as Citizens Advice Ipswich. The maximum liability of each member is limited to £10. At 31 March 2024 the company had 13 members. Ipswich and District Citizens Advice Bureau is governed by its Memorandum and Articles of Association as amended in 24 September 2022.

Ipswich and District Citizens Advice Bureau was incorporated as a company limited by guarantee on 24 September 1997. The charity commenced operations on 14 October 1997 at which date the assets and liabilities of the unincorporated Ipswich and District Citizens Advice Bureau were acquired.

b. Recruitment, Appointment of Trustees

Trustees, who are also Directors of the Company, are elected from the local community. An Elections Committee, made up of Trustees, the Company Secretary and chaired by the Chair is established to oversee the elections process for Board appointments. A separate process agreed by the Trustee Board is followed for the election of the Chair.

The Reference and Administrative Details above identifies the constituencies that elected each of the current trustees. No other persons or bodies external to the charity were entitled to appoint persons to the Trustee Board.

c. Induction of Trustees

Newly appointed Trustees are provided with a comprehensive induction to Citizens Advice Ipswich through the provision of training courses and mentoring by established trustees.

Page 6

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management (continued)

d. Organisational Structure

Citizens Advice Ipswich is governed by its Trustee Board which is responsible for setting the strategic direction of the organisation and the policy of the charity. The Trustees carry the ultimate responsibility for the conduct of Citizens Advice Ipswich and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet as a minimum quarterly and delegate the day-to-day operation of the organisation to senior management. The Trustee Board is independent from management. A register of members’ interests is maintained at the registered office, and is available to the public.

e. Related party relationships

Ipswich and District Citizens Advice Bureau is a member of Citizens Advice, the operating name of the National Association of Citizens Advice, which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the Trustee Board of Citizens Advice Ipswich to fulfil its charitable objects and comply with the national membership requirements.

The charity also co-operates and liaises with a number of other advisory services, local charities and social services departments on behalf of clients. Where one of the trustees holds the position of trustee/director of another charity they may be involved in discussions regarding that other charity but not in the ultimate decisionmaking process.

f. Major risks

A risk management strategy and risk register were agreed by the Trustee Board. The Trustees recognise that any major risks to which to which the charity is exposed need to be reviewed and systems put in place to mitigate those risks. To that end, Ipswich and District Citizens Advice Bureau is continually monitoring and managing its risk, reviewing the corporate risk register, and ensuring action plans are in place to mitigate its key risks

Included in external risks is that of the loss of funding. The effects of this have been minimised by the procedures in place, which have resulted in funding being secured from a variety of sources.

The charity continues to seek to diversify its funding sources. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

Page 7

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

I Williamson

Financial Management Portfolio Holder Date:

Page 8

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024

Independent examiner's report to the Trustees of Ipswich and District Citizens Advice Bureau ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Insitute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Page 9

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

Dated:

Giles Kerkham FCA DChA

Larking Gowen LLP Chartered Accountants Ipswich

Page 10

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Other income
6
Total income
Expenditure on:
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward as
previously stated
Prior year adjustment
Total funds brought forward as restated
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
181,692
44,720
4,825
1,029
232,266
186,389
186,389
45,877
267,734
2,000
269,734
45,877
315,611		 Restricted
funds
2024
£
-
751,369
-
2,500
753,869
773,333
773,333
(19,464)
50,409
-
50,409
(19,464)
30,945		 Total
funds
2024
£
181,692
796,089
4,825
3,529
986,135
959,722
959,722
26,413
318,143
2,000
320,143
26,413
346,556		 As restated
Total
funds
2023
£
180,267
696,188
1,200
14,492
892,147
865,145
865,145
27,002
291,141
2,000
293,141
27,002
320,143

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 14 to 31 form part of these financial statements.

Page 11

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) REGISTERED NUMBER: 3438957

BALANCE SHEET AS AT 31 MARCH 2024

Note
Fixed assets
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
Net current assets
Total net assets
Charity funds
Restricted funds
14
Unrestricted funds
14
Total funds		 26,611
398,550
425,161
(78,605)		 2024
£
346,556
346,556
30,945
315,611
346,556		 842
388,115
388,957
(68,814)		 As restated
2023
£
320,143
320,143
50,409
269,734
320,143

The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

I Williamson

Financial Management Portfolio Holder Date:

The notes on pages 14 to 31 form part of these financial statements.

Page 12

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Interest received
Net cash provided by investing 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
The notes on pages 14 to 31 form part of these financial statements		 2024
£
5,610
4,825
4,825
10,435
388,115
398,550		 2023
£
31,868
1,200
1,200
33,068
355,047
388,115

Page 13

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 19 Tower Street, Ipswich, Suffolk, IP1 3BE.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Ipswich and District Citizens Advice Bureau meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

2.2 Going Concern

The accounts have been prepared on the ongoing concern basis and the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected income and expenditure for the next 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern.

Page 14

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable, and its amount can be measured reliably.

Legacy income is recognised when receipt is probable, and entitlement is established

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 15

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.5 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 institution with whom the funds are deposited.

2.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.7 Cash at bank and in hand

Cash at bank and 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 account.

2.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.9 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.

2.10 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

Page 16

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Income from donations and legacies

Unrestricted
funds
2024
£
Core grants
Ipswich Borough Council
95,000
Suffolk County Council
29,700
Babergh District Council
7,673
Local Grant Giving Trust
30,000
162,373
Donations
14,319
Legacies
5,000
181,692		 Total
funds
2024
£
95,000
29,700
7,673
30,000
162,373
14,319
5,000
181,692		 Total
funds
2023
£
95,000
56,274
7,673
15,000
173,947
6,320
-
180,267

Page 17

(A company limited by guarantee)

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4. Income from charitable activities

Unrestricted
funds
2024
£
Income from charitable activities
44,720
Unrestricted
funds
2023
£
Income from charitable activities
3,000		 Restricted
funds
2024
£
751,369
Restricted
funds
2023
£
693,188		 Total
funds
2024
£
796,089
Total
funds
2023
£
696,188

Page 18

(A company limited by guarantee)

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Charitable activities

Unrestricted
funds
2024
£
Grants
National Lottery (Cost of Living)
75,000
Money Advice & Pensions Service
4,357
IBC Resilience Grant
-
Charitable Grant President
-
Locality budget
3,479
82,836
Contracts and fees
Suffolk and North East Essex Integrated Care Board (Social
Prescribing Connect for Health)
173,248
ESNFT (Social Prescribing, Long Covid Support)
71,393
ESNFT (Social Prescribing- REACT)
108,712
ESNFT (Social Prescribing Welcome Home)
71,800
Energy Advice Program
5,200
Cadent Energy
39,575
Money Advice and Pensions Service (Debt advice)
112,581
St Giles Trust (probation service support)
11,565
Suffolk Community Foundation (Fuel poverty / Surviving
Winter)
49,000
National Lottery (Welfare Benefits)
16,009
Yorkshire Building Society
9,450
Suffolk County Council (Local Welfare Assistance Scheme)
-
668,533
751,369		 Restricted
funds
2024
£
-
-
2,500
2,000
-
4,500
-
-
-
-
-
-
-
-
-
-
-
44,000
44,000
48,500		 Total
funds
2024
£
75,000
4,357
2,500
2,000
3,479
87,336
-
-
-
-
-
-
-
-
-
-
-
-
-
799,869

Page 19

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Grants
National Citizens Advice
Ipswich East and West INTs
East Suffolk Council
Suffolk Community Foundation
The Ganzoni Charitable Trust
Contracts and fees
East Suffolk District Council (Connect for Health)
ESNFT (Welcome Home)
Money Advice and Pensions Service (Debt advice)
Suffolk Community Foundation (Fuel Poverty)
National Lottery (Welfare Benefits)
Suffolk Advice and Support Service
ESNFT (Long Covid)
Suffolk County Council (LWAS)
ESNFT (REACT)
Cadent
East Ipswich PCN
Gamble Awareness		 Unrestricted
funds
2023
£
15,000
7,500
5,000
5,000
-
32,500
171,186
172,320
108,735
49,004
32,017
31,845
30,950
27,000
22,178
10,626
4,327
500
660,688
693,188		 Restricted
funds
2023
£
-
-
-
-
3,000
3,000
-
-
-
-
-
-
-
-
-
-
-
-
-
3,000		 Total
funds
2023
£
15,000
7,500
5,000
5,000
3,000
35,500
-
-
-
-
-
-
-
-
-
-
-
-
-
696,188
5. Investment income
Unrestricted Total Total
funds funds funds
2024 2024 2023
£ £ £
Bank interest 4,825 4,825 1,200

Page 20

(A company limited by guarantee)

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

6. Other incoming resources

Unrestricted
funds
2024
£
Miscellaneous income
1,029
Technical Debt Support Sudbury LCA
-
1,029
Unrestricted
funds
2023
£
Miscellaneous income
1,552
Technical Debt Support Sudbury LCA
-
Suffolk Information Partnership
11,440
12,992		 Restricted
funds
2024
£
-
2,500
2,500
Restricted
funds
2023
£
-
1,500
-
1,500		 Total
funds
2024
£
1,029
2,500
3,529
Total
funds
2023
£
1,552
1,500
11,440
14,492

7. Analysis of expenditure by activities

Charitable activities
Charitable activities		 Activities
undertaken
directly
2024
£
657,095
Activities
undertaken
directly
2023
£
602,637		 Support
costs
2024
£
302,627
Support
costs
2023
£
262,508		 Total
funds
2024
£
959,722
Total
funds
2023
£
865,145

Page 21

(A company limited by guarantee)

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Recruitment
Refreshments
Training
Travel expenses
Other staff and volunteer costs		 Total
funds
2024
£
639,070
375
4,119
1,220
3,030
9,281
657,095		 Total
funds
2023
£
594,949
275
603
1,625
3,922
1,263
602,637

Analysis of support costs

Staff costs
Insurance
IT equipment and support
Office expenses
Telephone and communications
Rent
Light and heating
Cleaning, repairs and maintenance
Moving costs
Consultancy fees
Other premises costs
Partner payments
Governance costs		 Total
funds
2024
£
102,605
2,043
28,272
34,040
12,714
25,415
4,190
8,040
50,263
2,434
2,993
12,500
17,118
302,627		 Total
funds
2023
£
114,449
1,932
58,002
32,018
7,689
19,564
9,302
2,810
3,041
-
-
-
13,701
262,508

Page 22

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. Independent examiner's remuneration

2024 2023
£ £
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts 4,750 600

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
662,363
51,027
28,285
741,675		 2023
£
631,419
51,656
26,323
709,398

The average number of persons employed by the Charity during the year was as follows:

2024 2023
No. No.
Employees 43 33

No employee received remuneration amounting to more than £60,000 in either year.

The key management personnel of the charity comprise the trustees and the senior management team as listed in these financial statements. The trustees neither received nor waived any remuneration during the year (2023: £Nil) . The total amount of employee benefits (including employer pension contributions) received by senior management for their services to the charity was £76,772 (2023: £93,312) .

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL) .

Page 23

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. Debtors

Due within one year
Other debtors		 2024
£
26,611
26,611		 2023
£
842
842

12. Creditors: Amounts falling due within one year

Other taxation and social security
Other creditors
Accruals and deferred income		 2024
£
4,295
68,610
5,700
78,605		 As restated
2023
£
-
68,814
-
68,814

13. Prior year adjustments

Opening reserves have been restated to include a historic unrestricted donation not previously recognised of £2,000. This adjusts the 2023 comparative creditors but there is no impact on the statement of financial activity for the 2023 year.

Following an analysis of opening balances, the 2023 comparative balance sheet figures have been restated. The most significant restatement is inclusion of balances in bank and other creditors relating to management of client grants, as detailed in note 22. This adjustment has no impact on net assets or the net surplus for 2023.

Page 24

(A company limited by guarantee)

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14. Statement of funds

Statement of funds - current year

As restated
Balance at 1
April 2023
£
Unrestricted funds
Designated funds
Premises Fund
30,000
Transitional Funds
10,000
Office Commitment Photocopy Lease
15,420
Premises Lease Fund
13,825
Redundancy Commitment
35,764
105,009
General funds
General Funds
164,725
Total Unrestricted funds
269,734
Restricted funds
National Lottery
8,004
ESNFT (Welcome Home)
14,360
Cadent
3,541
Suffolk Community Foundation (Surviving
Winter)
24,504
Yorkshire Building Society
-
Suffolk and North East Essex Integrated Care
Board
-
ESNFT (Long Covid Support)
-
ESNFT (REACT)
-
Money Advice and Pensions Service
-
Other restricted funds
-
50,409		 Income
£
Expenditure
£
-
-
-
-
-
(6,424)
-
-
-
-
-
(6,424)
232,266
(179,965)
232,266
(186,389)
75,000
(83,004)
71,800
(86,160)
39,575
(43,116)
49,000
(44,921)
9,450
(7,088)
173,248
(173,248)
71,393
(71,393)
108,712
(108,712)
112,581
(112,581)
43,110
(43,110)
753,869
(773,333)		 Balance at
31 March
2024
£
30,000
10,000
8,996
13,825
35,764
98,585
217,026
315,611
-
-
-
28,583
2,362
-
-
-
-
-
30,945

Page 25

(A company limited by guarantee)

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14. Statement of funds (continued)

Total of funds 320,143 986,135 (959,722) 346,556

Designated funds:

Premises Fund - reserves to be used in the event of potential capital expenditure needs not already allocated as running costs in the budget.

Transitional Funds - reserves to cover staff salaries in the event of a contract finishing before a new contract is in place.

Office commitment photocopy lease - reserves to cover the cost of the photocopier lease agreement.

Premises Lease Fund - reserves to cover the rental costs for 6 months should notice be served.

Redundancy Commitment - reserves to cover the current legal redundancy commitment in the event of business closure.

Restricted funds:

National Lottery - funding to meet the increase in cost of living expenditure for the charity to cover general core services.

ESNFT (Welcome Home) - funding to cover staff costs to deliver Social Prescribing in Ipswich Hospital.

Cadent - funding to cover staff costs to deliver energy saving and income maximisation advice.

Suffolk Community Foundation (Surviving Winter) - funding to cover staff costs for administration of Surviving Winter grants to qualifying Suffolk households.

Yorkshire Building Society - funding to deliver weekly advice and support to Yorkshire Building Society.

Suffolk and North Essex Integrated Care Board - funding to cover staff costs for delivery of social prescribing in Ipswich East and Ipswich West INTs in partnership with Ipswich healthcare professionals.

ESNFT (Long Covid Support) - funding to cover staff costs for delivery of social prescribing to Long Covid clinic patients.

ESNFT (REACT) - funding to cover staff costs for delivery of social prescribing to REACT patients.

Money Advice and Pensions Service - funding to cover staff costs to deliver accredited debt advice.

Other restricted funds include smaller amounts that are used to deliver specified projects.

Page 26

(A company limited by guarantee)

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Premises Fund
Transitional Funds
Office Commitment Photocopy Lease
Premises Lease Fund
Redundancy Commitment
General funds
General Funds
Total Unrestricted funds
Restricted funds
National Lottery
Suffolk Community Foundation
ESNFT (Welcome Home)
Cadent
Other restricted funds
Total of funds		 As restated
Balance at
1 April 2022
£
30,000
10,000
15,420
13,825
35,764
105,009
186,132
291,141
-
-
-
-
-
-
291,141		 As restated
Income
£
-
-
-
-
-
-
199,459
199,459
16,008
49,004
71,800
10,625
547,251
694,688
894,147		 Expenditure
£
-
-
-
-
-
-
(220,866)
(220,866)
(8,004)
(24,500)
(57,440)
(7,084)
(547,251)
(644,279)
(865,145)		 As restated
Balance at
31 March
2023
£
30,000
10,000
15,420
13,825
35,764
105,009
164,725
269,734
8,004
24,504
14,360
3,541
-
50,409
320,143

Page 27

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Summary of funds

Summary of funds - current year

As restated
Balance at 1
April 2023
£
Income
£
Expenditure
£
Designated funds
105,009
-
(6,424)
General funds
164,725
232,266
(179,965)
Restricted funds
50,409
753,869
(773,333)
320,143
986,135
(959,722)
Summary of funds - prior year
As restated
Balance at
1 April 2022
£
As restated
Income
£
Expenditure
£
Designated funds
105,009
-
-
General funds
186,132
199,459
(220,866)
Restricted funds
-
694,688
(644,279)
291,141
894,147
(865,145)
Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted
funds
2024
Restricted
funds
2024
£
£
Current assets
394,216
30,945
Creditors due within one year
(78,605)
-
Total
315,611
30,945		 Balance at
31 March
2024
£
98,585
217,026
30,945
346,556
As restated
Balance at
31 March
2023
£
105,009
164,725
50,409
320,143
Total
funds
2024
£
425,161
(78,605)
346,556

16. Analysis of net assets between funds

Page 28

(A company limited by guarantee)

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Current assets
Creditors due within one year
Total As restated		 As restated
Unrestricted
funds
2023
£
338,548
(68,814)
269,734		 Restricted
funds
2023
£
50,409
-
50,409		 As restated
Total
funds
2023
£
388,957
(68,814)
320,143

17. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the period (as per Statement of Financial Activities)
Adjustments for:
Interest received
Decrease/(increase) in debtors
Increase in creditors
Net cash provided by operating activities
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents		 2024
£
26,413
(4,825)
(25,769)
9,791
5,610
2024
£
398,550
398,550		 As restated
2023
£
27,002
(1,200)
5,259
807
31,868
2023
£
388,115
388,115

18. Analysis of cash and cash equivalents

Page 29

(A company limited by guarantee)

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

19. Analysis of changes in net debt

Cash at bank and in hand At 1 April
2023
£
388,115
388,115		 Cash flows
£
10,435
10,435		 At 31 March
2024
£
398,550
398,550

20. Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £28,285 (2023: £26,323) . Contributions totalling £7,717 (2023: £4,305) were payable to the fund at the balance sheet date.

21. Operating lease commitments

At 31 March 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

2024 2023
£ £
Not later than 1 year 8,996 15,420

As at 31 March 2024, the Charity occupied the premises at Tower House, however the lease terms had not been finalised at that date. Subsequent to the year end, the lease was signed with an expiry date of June 2049. The annual lease commitment is £27,650, subject to review every three years.

22. Agency arrangements

The Charity acts as an agent in distributing grants to qualifying households in Suffolk. In the year, the Charity received £227,459 (2023: £308,575) , and disbursed £249,798 (2023: £344,279) . An amount of £60,036 (2023: £85,183) is payable at 31 March 2024 and is included in other creditors. £Nil (2023: £Nil) has been recognised in income and expenditure in the Statement of financial activities.

23. Related party transactions

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2024.

Page 30

IPSWICH AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

24. Controlling party

There is no ultimate controlling party.

Page 31