Company r¢gistr8tion nurnlKr: 03507549 Chartty registration number: 1068198 Peterborough Citizens Advice Bureau (A company limited by guarant¢¢) AnttU￿ R¢p)rt and Financia] Statements for the Year Ended 31 MaTch 2024 Community Accounting Plus Units l & 2 North West 41 TalFM)t Street Nottingham NGI 5GL Peterborougb Citizens Advice Bureau CoDteDts Refer¢n¢¢ and Admini51r8tive D¢tsils TrustCC5' R¢FK)rt 2to8 Inde￿dent Exatnin&s Re￿rt Statement of Finon¢ial Adiviti¢s Ioto 11 Balance Sheet 12 Statement of Cash Flows 13 Not¢s trj the Financial Stst¢m¢nts 14to23 Peterborough CitiTzns Advice Bureau Referenee and Administrative DetaiLs Trustees Dr Lynne Caley. Chair Shu yua￿ Treasurer D¢rek Risk Joshi Livia Thomas S¢¢r¢tsry Keith Jones Senior Management Kcith Jon￿. Chief ExC¢￿1v¢ Jamc5 Robert4 Oper*ions Manager Charity Regi¥￿tIOn N•mb¢r 1068198 Company Regi8tr*tiott Nomber 03507549 Registsred Office Unit I l. Flag Business Exchwge Vicardge Farn) Road Pd¢rtM)rough PEI 5TX Illdepelldent EA*miDer John 0￿rie￿ employee of Community Accounting Plus Units l & 2 North West 41 Talb)t Street Nottinghgm NGI 5GL Solicitors: Bu¢kl¢s Solicitors LLP 101 Bourgcs Boulcvard P¢t¢rknrough PEI ING Bankers CAF Bank Ltd 25 KinES Hill AY￿u¢ King5 Hill W&8t Malling Kent ME194JQ Uniry TnLSt Bank plc Nine Brindleyplace Birmingham Bl 21tB Pa8e I Peterlx>rough Citizens Advice Bureau Tr￿tees, Report Th¢ trnstees, who 8r¢ directors for the pur￿seS of company law. prcscni the annual report logether with the finan¢i81 stat¢m¢nts of the charitable company for the year ended 31 March 2024. T￿SteeS IlDd officers The trustees and officers serving during the year and since the ycar cnd wcre as follows: Trustees: Dr Lynne Caley. Chair Anna Lee, Vice Chair Shu yua￿ Trnsur Derek Risk Kei'in Gutteridge Christopher Ash Ratilal Joshi Livia Thomas (typtKJint¢d 3 May 2023) Keith Jonas str￿¢￿TE goverDauce aud TTraDagemeDt Nathre olgoverning document The charity is a company limited bv guarantee and registered charity. It is operaled under the rules of its memordndum and articles of &ssociatiort d&ed 10102198 and most recently amended 2510712022. li has no sharc capital and the liabiliry of m¢mb¢r in the ¢v¢ni of wiTrJin£-up is limited th £10. Orxani5alionalstruLtsre Citizens Advicc Petertr￿[0Ugh is governed by its TnLStee Board that is restx)nsible for setting thc stralegic direction of the organisation and the policy of the charity. The TnLStees cary the ultimate resFonsibility for the conduct of Citizens Advice P¢tertrf)rough and for crLSUTing that the charity 5ati5fics its lega] and contractual obligalions. Tr￿ee$ m¢et as a mirlimtun quarterly and delegate the dav.to&y opemion of the organisation to scnior management. The Tnjstee BO￿ is indcpcndent from managemenL A register of members, interests is rnaintsined at the re8iStered offi¢4 and 15 available to the public. Pag¢ 2 PeterlK)rough Citizens Advice Bureau Trll8tees' Report RecrnÈtsnent Tntstces. WIKJ are also Dir¢¢tors of the Comkw. are elected from the local community. An Elethi0￿9 CommittK madc ofTrustees. the Company S¢cretory and chair¢d by thc TnLStee Board Chair is estsblishcd to ovcrsce the el￿tIonS pro¢e55 for Board app)inlments. A separatc process a￿d by the Tr￿te¢ Board is followed for the election of the Trustee Board Chair. Vice Chatr & Treasurer. We promote vacancies on our website. via our social medi4 on the website of National Citizens Advic¢ and on REACH. AppliC￿lOnS SlxJuÈd an individual possess th¢ kny skills the charity n¢cds and would ¢njoy the opportunity of supwning the LX)mmunity of P¢teriK)r0U￿ making the wtntnilM￿t of lime and participatio￿ then we would rcally lik¢ to hear from individual. Infomation and an appliC￿lOn pack can be obtained frotll the Chief Executiv¢.' ca)@ttsFM)rough¢ab.org.uk or visii the Citizens Advice P¢terknTOU8h website wWw.citap&¢rt￿rOUgh.Org.uk S¢lethion process Initial screening - On receipt of a complrted application forni. we will revi¢w the infonJation provided and de¢id¢ whether we wiu be tsknng forwdrd the initial applicatiotl We aitn to resrKJnd with a decision within 2 Interview stage - Following the initial check of the appli￿10￿ ￿ invite Candida￿ to attend 8n informal int¢rvi¢w with thc CEO and a pancl of tr￿St￿ within 3 weeks. This is also an OPWunity to visi¢ the CAP office and med ofth¢ ￿. R¢f¢r¢ncc checL8 - Suitsbl¢ ￿ferenCtt will only bc sought for S￿¢￿sful candidates following an interview with the ￿0 and panel of trust￿& ID: Candidat Th¢ Directors. w]KJ ar¢ the trustees of the charity. 2nd the senior maTMgement team comprise thc key management personn¢l of the charity in ¢￿ge of directi￿ and controllin& running and operating the charity on a day to day basis. All TDjste￿ give their time freely and none received remuneration in the year. The pay of all staff is reviewe(L usually annualty. and any increaq¢s are b&8ed on the curnt public sector pay policy subject to th¢ availability of th¢ fitwKial resourc￿ within the d)arity. Senkor sthff are awarded thc same percentsge increases. The TnLSte¢s also periodically comp3re the pay of senior staff with equivalent ￿sts in other chariti¢s within the Cittz¢ns Advice network w provide a benchmark to inforni firture pay increases. Page 3 Peterborough Citizens Advice Bureall Trustees. Report Objeetives And activities Objects andaip Th¢ Charity's objcctives are to promotc any charitable purEx)se for the public b¢n¢fit by the advancement of education, the protection and pr&servation of health and the relicf of p)verty, sickness and distress in particular, without lirnitatio￿ for the benefrt of the c4)mmunity in PetertK)rouEh and surrounding 8r The aim of the servic¢ is to: . .SuprK)rt pcople & families impaLted by ext¢rnal pKssures 5u¢h ￿ the cost of living crisis both through advice interventio￿$. but also by ¢ontinuing lo supplv welfare support in the way of f(N)& white good5 and firnItt￿. plll8 Utility tOPUP5 funded by the Houschold Suprrfjrt Fun *Focus on prevention strategies lo keep pcopl¢ in their Try)m¢& providing a(fvice ond refetral to sp¢¢ialist suppliers for c&8ework if rcquir .Provide accessible inforn)ation. advT¢¢ and guidance 5upp)rts individuals to resolve thcir problems early ￿fOre they escalate. .Promote Ixith capability and ￿rsOnal Inde￿ndenC< to ¢nable individuals to tske control of their circumstan￿$ and resolve issues more indwd¢nt]y. .Supw>rt people in food p)v¢rt)' utilising Foodbanks io m&ximise th¢ir income and with other advi￿ i55U identified. .PTovid¢s inforn)ation. advice and guidance on a rdnge of k¢y legal and finan¢ial issues to prcvent individuals from financial hardship. .Assist and sUp￿rt people to apply for welfare b¢Trcfi￿ provide dcbt advice togcther with income M￿lMisation. .Supp)rt clients to make their initial claim for Universal CrediL CIIP provides a rdnge of ￿tWice services frotn infomiatioo signw)5ting or referral to holistic genual advice. Thes¢ services are delivcrcd by the genera]ist tcam Consisting of volunieers and paid advice staff SUPFQrt¢d by our team of three Supervisors. The generalist team d¢ltv¢r advice in the nlain by remote working from specific project work is undcrtaken at outreach locations fa¢¢ to face. The SCO￿ of enquIri￿ ￿ver5 the fijll raTJge of CitizerL8 Advic¢ subjcth are&s including benEfi￿ debi hous1￿ ¢mploymenL Ix)nsumtt. fatnily. Immigratio￿ health and Cducation. Th¢ generalist service op¢rat&% &8 a telephone A(fvieeline service which operates from 10:00 to 16:00 wc¢kd2y ￿ the prime advi￿ deltvery channel. Th¢ service is h¢avily oversubscribed with many more people C411ing th¢ service than we are resourced to deal with so re￿lablY many calls go unanswere Dwit)8 2023-24 CAP ddt with: . . 10,365 issues- an avcrage 432 per month (22123: 5,180 issues); . The unique clicnt wunt totalled 2,732 (22123: 1,989) for th¢ year. . Financia] incomc gains for clients in the )'ear totslled £2:187,574 (2Y23: £1.661.616); . £1,924 (2V23: 2,920*) of cli¢ni debt was [c￿h¢duled or negated during the year and £19.971 of debt was written off. [*This figure is lower than in pr¢vious years &8 we ￿ longer bave rcsource to employ specialist money advice case workus] Page 4 Peterborough citi￿￿5 Adviee Bureau Tn￿tee$, Report The dispartty betwttll unique cli¢nts and the numFn of clI￿t i&w&s is a reflection of th¢ way large and cross ciitting number of issues clients are presfflting with following the cost of living crisis. Unique Clients- clients are o)untrd oncc only during the financial year. Client [￿UeS - client enquiiies may includ¢ more than one issue employm¢nl rights & credit entit]emenL or they may rettm) dEwing the financial year with ncw enquiries. Continuing issues following the pandemic are tIK cost of living crtsis. Tclocating our central office on¢¢ mor ￿￿]enses recruitin8 voluntcers pl￿8 &Jditional wolk on the Household SupFM)rt Fund scheme for Pderborough. All of these itcms have ￿￿en emplex and as suth hav¢ th up mu¢h of the litne of the management t durin£ the ycar. Grant funding for Core advic¢ serviccs is now agreed on an aDDual basis which impacts our (xpacity lo plan strategically for thc fi]ture. In an ideal world funding cycl¢s would last 3 ￿ 5 years whAch would provide far OPEX)rtimity for th¢ t¢am to focw8 on organisational and service developments. We are the only quality marked independ¢nt genernl edvi¢¢ service within P¢tetlKsrough abl¢ to offer advi¢¢ across the filll rdnge of subject arw. Th¢ ¢hariry cKintribut¢s to the local economy by providing paid job OPFortunities to plus trdining optM)rtuniti¢s for voluntrers. Many volunt¢¢rs then Wdin skills and confid¢nc¢ io prO￿¢s5 into paid employmcnt in addition io providing a valued scrvice to th¢ir l¢)cai ￿mMUnIty. CAP ha% a project team who work with clients of P¢terEorough F(K>dbank and Aspir¢. providing advice on budgeting. income m&Kfftmisatioo debL knefiL% housin& employm￿t and IM)tnelessness. Many clients rcturn for advice for a rdnge of r¢asons including mallal hcalth or wellb¢ing i5sue8 Communi￿tion problems often as a result of litcracy or language. A significant pro[￿110￿ of our are considercd kn be amongst the most depriv¢d in Peterlx)rough. During the year w¢ have also received thort tern] proj¢¢t fimding from PctertKtrrotxgh City Council to sct up a $hort terni project bLs¢d in the Central LTri Irdry to provid¢ Income Maximisation supwrt to p￿pIe n¢gatively impactcd by th¢ wst of livin8 CTiSiS. This service is provide by paid advisers. We athninistered th¢ Houschold Supp)rt Fund on I￿half of PetrrEx)rough City CO￿¢11. Under this fimding we distrib￿¢d E()th fuel and f(N)d vouchers ts) thosc who were eligible. whert Fossible w¢ also assisted them with income M￿lM15at10n through our advice team outiinal Through this wolk ovu 10.O(K) hous¢holds in PcterFA)rough received voucb¢rs over a 12wmonth p￿10(L As h&s been the ¢ase for the p&81 few years the I￿gest groHryh area for advi¢¢ h&8 kn wclfare benefits where we dealt with 3.433 issues [33•/oJ & Univ¢rsal Credit where we dealt with 1.192 issues [12%]. This was follow￿ by hO￿ing of 1,222 [12%]. debt 1.16811 IYo]. followe4J by charitsble SUp￿rt & F￿dbank due to the cost of living crisis at 551 150A} issues. Thc top Ixn¢fits issue was Personel Independuwe Payment whilst the top dcbt issue w&s Council Tax arr￿s. Thc Trustees ar¢ immcrL8ely grateful to ail our fi￿derS for providing th¢ rcsource to ¢nable provide advice service to the communities across Peterborough. Public benefil The Trustees confirm they hav¢ paid due regard to the Chrrity CL)mmission's guidance on public benefrt in deciding what a￿1vitieS the charity shoutd undertske. This narrative on &tivitie5 detsils the public benefit requirement h&$ b¢en mel by d¢tailing the services run by the charity that benefit th¢ public. Th¢ trustees confirni they hav¢ complied with the requirements of sKtion 17 of the Chariti¢s Act 2011 to have due r¢gard to the ￿bliC bcnefii gllidancc publish￿ by the Charity Con)mission for England and Walcs. Pg8¢ 5 PeterlM)rougb citi￿nS Advice Bureau Trustees, Report For the financia] year cndcd 31 March 2024. Citizcns Advi¢¢ Pe*rlM)rough has ￿leyed a tots] income of £515,494, and incurred a total ¢xpenditure of £654.315. resulting in a deficit of £138,821. This brings our reserve doMTr to £356.122 (31 March 2023.. £494,943). The deficit is mainly a result of the extremely ch8llengÉng fijnd raising environmenL a8￿st the backdrop of slow growth in the UK economy. cost of living crisi4 rising int￿¢51 raK ¢limate change cha]Icng¢5 and inueasing geop)liti¢al tensio￿. Making & loss in any organisations 15 unwelcom< thc Board of Tn￿1¢¢8 and Scnior Management fvlly rccognise that. To Exjsiuon OLEr organisation for the firtur¢, in the 1&8t few monlty the Board and Manag¢m¢nt have fonnulated a S￿leS of athlons to restm¢nre the orwdnisation. achieving material ￿)st reduction and a more streamlined operation structur¢. Bo8Td will continue to monitor closely, but rcmains Confident that the organisation will crntinue to ortratr in th¢ foreseeable fjJture. Policy on reserves Poli¢y on r¢s¢rves Th¢ Tr￿SteeS regularly review the financial p)sition of the Charity and believe that it should IM)Id sufficient financial reserves in order to ¢nsur¢ that the service can continu¢ to operate and mcct th¢ needs of clients in the event of unforeseen and wtentially damaging financial ¢ir¢wnswK&s arisin& Th¢ Trustees undertake an annuai revicw pnd have detern]ined that th¢ aim should be kn hav¢ totsl unrestricted reserves equivalent to three months nornial operating expcnditure. This is to refle￿ the Trustees view of the incre&sing uncertainty ￿Ound future fiJndiDg and th¢ trcnd toward8 short¢r im grdnts & contrarts. In setting the res¢rv¢s target th¢ TnLsIe￿ have to balancc th¢ demands of dclivwing much needed s¢rvi¢¢s ts) current ¢li¢nts agairLst the requirements of maintrining adequate rescrv¢s to cover p)tential future fimding uncatainty and the impaci of dcmographic Ch￿eS and govcrnm¢nt wlicy on social wclfare. The charity is still dependent on maintsi￿g a Ste￿ stream of fijnding to SUPFQrt the infra￿￿ coM& This reserves target relat¢s w a medium tertn tim¢ fram¢ 8J)d will not n¢¢¢ssarily restrict the fll)ancial plon irk any onc year, although action will bc takcn to trend towards thc targrt when Yarianccs occur. The balance of unrc5tri¢ted r¢serv&8 at 31 March 2024 in exccss of the target by th¢ TnL8lees (which S￿0d at c. £175,000 Cquiv￿cnt to the total expenditur¢ of the last thrcc months of the finan¢ial year). In 2024125 the TnLStecs havc budgcted to use some u[￿¢S1n￿ed reserves to maintsin th¢ organisational Infr&Str￿ to b¢ ready to urbdcrtakc firtvre potential proj¢¢ts & OPFOrtunities. Page 6 Peterborough Citizens Advice Bureau TrL8tees' Report Moior rifks Tlsls Funding The major risk that the chaTity is recently facing is Funding Risk - defined as the risk that we do not have cnough funds to mcct obligations such &s salaries and office costs. To manage this risl Fknagement and Boord members closely n￿nItor the Charitys incom4 expendituff and reserve FM)sition& &8 well as actively exploring and bidding for additional fi￿dIng optM)rn]nities. Phns for hture periods Alw￿ andkry obiectsveslorfyts¢reperlodf W¢ provid¢ high quality servi¢¢s across the Peterix)rough Unitary Authority by ddiveTing fT¢C. Rndependenl nfidential and impartial advi¢¢ in th¢ city: w¢ value diva5ity. and promote equity. We have mcmbership of the National ASsoci￿10n of CitizetLS Advi¢¢ Bureaux (Citizens Advice), to which mo local citi￿nS Advicc O-CA) offices in England and wal￿ belon& Citizth￿ Advice sets strict standarth for membership that are assesscd &Tmually. We actively s¢¢k to infiu¢n¢¢ through our r¢search and campaign work at ntitional and local level. This included participation in CitizeJL8 Advice led ￿paI￿. as well as direct liaison with lo￿1 ￿liCy-Make[s in order to W¢ hav¢ a ¢l¢ar wid¢rswding that as a small inderKndent charity w¢ are utthle to solely deliver everyihtng requir¢d w address Community needs in the city. Our focLLS ther¢for¢ is on how we can develop and grow partnerships with local sthkeholders to cr¢ai¢ an ¢nviri)ninent where we stand a better chance of providing services to tneet pa)ple's [￿ed% improving th¢ ￿VIce experien￿ and oulcome. Over the cnming y¢8r we have a￿d three key strate&y l. To make the charity and its services Sustsithle in the medium to long terni. 2. To build capacity on Advi(zline and mov¢ to address unm& demand for telep1￿)ne advice 3. To r¢finat]c¢ and develop the Income M&ximisth Project over the next two years to sUp￿rt people negatively impact&l by rising process and the cost of iiviDg crists We ¢nsur¢ that ail of our clients get the best ￿sSIble s¢rvic¢ and the outcomes th¢y need we also make sure that we communicate elTectiv¢ly with them in the b&8t Wdy Suited for thcir nceth. This WO￿ wvers our duty under the newly implemented Consumw Duty. StsttmeDt of Responsibilit The trustees {wkn are also th¢ dir¢¢tor5 of Peterlx)rough Citizens Advice Bureau for the purp￿5 of company law) are responsible for preparing th¢ tru5tees' report and the finan¢ia] statements in acwrdan¢e with applicabl¢ law and United Kingdom Accounting Stsndards Iunited Kingdom Generally Accepted AC￿unting Practice). including FRS 102 "Th¢ Financial R¢tK)rting Standard appli¢abl¢ in the UK and R¢public of Ireland.. Th¢ rwrt and ￿ounts have been prepared in acwrdance with the provisioDs in thc Companies Act 2006 rclating to small companies. Peterborough Citizens Advice Bureau Tn￿tees, Report Company law rcquire5 the tru￿rrougb Citizens Advice Bureau Independent ExamiDer's Report to the trustees of Peterborollgh CitizeDS Advice Bureau {'the Company,) Inde￿nd¢llt ex#milleEs report to the trustees of P¢tertJorough CitrLens Advie¢ ('tbe Company,) I re￿rt to the dwity ttwtees on my rAaminalii)n of the acCO￿)ts of the company for the year ended 31 March 2024. Responsibilities and basis of report As th¢ charity's trustees of the Company (and also its directors for the pUT￿>seS of o)mpany law) you are r¢srKJnsibl¢ for th¢ pryration of the aca)unts in accordance with th¢ rwuirements of the Con)panies Ath 2006 {'th¢ 2006 Act,). Having ￿l$fied mysclf that the xcounts of the CompBny are not required to be audited unikr Part 16 of the 2006 Act th are ¢lAgibl¢ for indwdcnt examInatso￿ I re￿rt in r¢sF¢th of my eXamin￿On of your charity's accounts &8 canied out under section 145 of the Chariti&s Act 2011 ('thc 2011 Act.). In carrying out my amination I have followed th¢ Dir¢¢tions given by the Charity Conllnission under section 145{5)(b) of the 2011 ACL Independent eumitter's stAt¢m¢nt Sin¢¢ thc Company's gross income exceeded £250.IXN) your examtner mwt be a mcmFxr of a body li#¢d in section 145 of th¢ 2011 A¢L I ￿nfi￿ll that l am qualified ￿ undertake the examin￿lOn beCa￿e l am a m¢mi*r and Fellow of th¢ A$￿￿latIOn of Charity Inde￿ndent Examiners. which is one of the listeA Ix)dies. I hav¢ ¢ompl¢t¢d my ¢xaminatiOJL I confirn) no matters have come w my anention in conn￿tion with the examination giving me cwjse to I￿lieVe that in any mat¢rial respert: . ar￿unting records wtre not kept in r&spec¢ of the Company &$ required by section 386 of the 2(KJ6 Affj or 2. the aax)Lmts do not ac￿T￿ with tlK)s¢ records: or 3. th¢ accounts do not comply with the ￿C{lUnting re1wi￿Cnts of section 396 of the 21)06 Act other than any requiremeni that thc accounts brive a 'truc and fairf view which is not a mattcr considered as part of an inde￿ndent examination. or 4. the a¢¢ounts have not b¢¢n prep￿j in ac￿rdanCe with the methods and principlcs of the St8t¢mcnt of Re(y)mmended Pr￿1¢¢ for accounttnE and reporttng by chatities [appli¢able to charities preparing their accounts in accordance with the Finan¢i81 Reporting Standard applicable in the UK and Rcpublic of Ir¢land (FRS 102)]. I have Th) concerns and have come across no other maners in connection with th¢ examination to which attention should be drawn An this rewrt in order ty enable a prO￿r undcrsla* of thc accounts to k reachat John O, rien MSC, FAIA. FCCA. FCEE. ¢mployee of Conmnunity A¢Lx)untiD8 Plus Fellow of the Association of Charity Indep¢ndert Examiners Units l & 2 North West 41 Taibot Stree¢ Nottingham NGI 5GL Peterborough CitizeL% Advice Bureau StatemeDt of Financial Aclivities for tbe Year Ended 31 Iklarcb 2024 (IDeludiDg Income and Expenditure Accounl and Ststement of Total Re¢ogDised Gains and Losses) Totsl 2024 Tot*1 2023 Umre5tri¢ted Restricted Note Illcome #nd EDdoFmeAts from: Donations and legacies Charitsbl¢ activities Investment income 131.752 131.752 373.977 9,765 176.130 324.222 ,531 373.977 9.765 Total in¢om¢ 141.517 373,977 515,494 501,883 Eipeuditsre OD: Charitable activities (135.110) 519.205) (654.315 (351,681) Total expenditure Net incorneJ(expenditUTe) Trdnsfers between fiJnds 135.110) 519205 654.315) 351,681 6.407 18,189) (145.228) 18.189 (138.821) 150202 Nct Enov¢m¢nl in fi]nds (11.782) {127.039) (138,821) 150,202 RecoD¢ili*tiott of funds Totsl brought forward 295,616 199.327 494,943 344,741 Total futth canied forn¥8rd 14 283.834 72,288 356,122 494,943 All of the tharity's artivities d¢rive from continuing operations during the alK)ve two P¢Tiod& The fiJnd8 breakdowk for the period is slM)wn in note 14. The rlotes on pa8￿ 14 to 23 form an lnieg￿ part of these financial statements. Page 10 Peterborough CitiTrns Advice Burea Statement ofFinaneial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Totsl Recognised Gains and Lo&ses) Tbese tbe figures for the prtvlous ata)Hntin£ period are indllded for comparAtive puryo Total 2023 funds Dds Notr Intome •nd Endowm¢nts fro Donations and lewies C￿￿ltable a¢(ivitie5 Inv¢sttncnt incilme 176.130 5LKI 1.531 176.130 324222 1,531 323.722 Totsl income 178.161 323.722 501,883 Espenditsre 00: Charilable activities 185,198 166.483) (351.681 Total upenthtwe Net {exp￿lture)11nCQlllC Transfets between fijnds 185.198 166,483 351.681 (7.037) 24.719) 157.239 24,719 150,202 Net movement in funds (31,756) 181,958 150,202 Reeon¢iltstioD of fDnds Total fimds brought forward Totsl funds caTri¢d forW￿d 327372 17J69 344.741 14 295.616 l99,327 494.943 Page 11 PetertK)rough Citizens Advice Bllreau (Registration number. 03507549) Balance Sbeet as at 31 March 2024 2024 2023 Note Fixed *ssets Tangible assets io 3,938 I,th)i Curnt assets Debtors Cash & bank arAd ID hand 16.510 353.994 11.975 497,913 370.504 509.888 CreditOT8'. Amounts 14Uillg dll¢ within one ymr Net ¢urrent aysets 12 18.320) 15,9 352.184 493.942 356.122 494.943 Funds of the cbAlIty: Restricted iD¢om¢ funds 14 72288 199.327 Unrestrirttd incouR fonds Unrestrict￿1 fimd8 283.834 356.122 295,616 494.943 Totxl fvnds 14 For the financial year a)diDg 31 March 2024 the dwity was entitled to ex¢mption from audit under SeQion 477 of the Corn￿11¢$ Act 2006 relating fo small o)mpanie& Directors, resEM)nsibiliti￿. The muabers have not rwrired the cbarity to obtwn an audit of its arLowts for the year in qiwlion in accor￿¢ with section 476. and The directors acknowledge their r¢sFonsAbilits¢5 for complying with th¢ requirements of the Act with respect subject to the small c¥)mpatties regime within Part 15 of the Comronies Act 2006. The financial statements on pages 10 to 23 were approved by the JJustccs. and authorfftsed for issue on I I September 2024 and S)￿ed on their behalf by: Trustee The notes on pa8ey 14 to 23 fozm an Inte￿*1 part of thes¢ fijwicial swements. Pa8¢ 12 Peterborougb Citizens Advice Bureau Statement of Cash Flovls for the Year Ended 31 March 2024 2024 2023 Note C￿h flows from oper*tinz •clivilies Net ¢&th (expcndItureYm￿me (138.821) 150202 AdjustJDents to cash Ilows from items Depreciation Investment inwme 1,195 (9,765 2J23 .531 (147.391) 150.994 WorkiDg CAPital adjustments In￿¢ in dcbtors Encre&se in creditrjrs (4.535) 2.374 (8,934) 4.613 12 Net flows from Op*￿ing activities (149.552 146.673 Cash flows frnm investing *etKviti¢s Interest receivable and similar income Purchase oftsngibl¢ fixed assets 9.765 4.132) 1,531 (i.ooi} 10 Net cash flows from investing activitias 5.633 530 Net (decr¢aseyincr¢ase in cash and cash equivalents Cash and wh equivalents at l April Cash arKI cash equivalents at 31 March (143.919) 497.913 147,203 350,710 353,994 497,913 R¢¢ott¢ili*tiott •f net Cash ftow to NoveD*nt im ll¢t f•#ds (De¢reas¢yin¢r¢asc in cash (143,919) 497,913 147,203 Nd funds ￿ l April 2023 350.710 Net fimds & 31 March 2024 353.994 497.913 Ail of the c&8h flows are derived from continuin8 operntl0￿ during the aiM)ve two perAod& The notrs on pages 14 w 23 form an Intr8r￿ part of th¢s¢ financial ststem¢nts. Pag¢ 13 Peterborollgh Citizens Advice Bureau Iyotes to tbe FiD4ncial Statements for the Year Ended 31 March 2024 l A¢¢ounting poli¢i¢s Summgry of signifiuDt accounting policies aDd key accounting extimates The prin¢ipal accounting wli¢i¢s applied in the prepardtion of these financial statements are set out below. These policics have been consistently appli￿ to all the y¢ars pr¢sentr¢ Unl￿ otherwise state Ststement of compll*nee The firwKia] statements have been prcparcd in accordance with Acco￿ting and Rewrting by Charttics: Ststement of Recommended Practice {applicable to charitie5 prcparing their w>unts in accordance with the Financia] Rcp)rting Standard applicabl¢ in thc UK and R￿UbliC of Ireland (FRS 102)) (issued in Octobcr 2019) - (Chariiies SORP (FRS 1021), the Financial Rep)rtin8 Standard applicable in the UK and R¢public of Ir¢land RS 102) and the Companies Act 21￿6. Basi5 of p￿ParAtion Peterlx)rough Ciiizens Advice Bureau meets the definition of a public bcnefit ¢ntity under FRS 102. Assets and liabilities are initially recognised at histOTi(xl (x)st or tran58ction value unless othenvise stated in the relevant accounting policy nows. Going concern The fmancial st￿ements have been prepared on a going concern basT& The trust¢¢s assess whethv the of going concern is appropriate i.& whether there are any material uncertatnties related to events or conditio￿8 that may ￿t 5ignificaffl doubt on the ability of thc charity to Continue &$ a going ¢onc¢nL The tnL$t￿s make this a￿&￿Trent in rcspect of & period of one year frorn the date of approval of the financial sw¢m¢nts. Income endowments Voluntary income including donations, gifts, l¢gacics and gT8nLS that provide core funding or ar¢ of a general naturc 15 rccogniscd wh¢n th¢ charity has entit]emeni to the in(x)me. it is probable thkt the incA)me will be r¢￿1Ved and th¢ amount ¢an be me&8ured with sufficient reliability. Donalions andlegacies DonatioTh8 are recognised when the charity h&8 been notified in writing of Ixith the amount and s¢ttl¢m¢nt date. In the eveni that a donation is subject to conditions r¢quir¢ a leyel of perforn]ancc by th¢ chartty b¢fore the charity is cntitled to the funds. thc incomc 15 d¢f¢rred and not recognised until cithu thos¢ conditions are fjjlly mel or thc fijlfilment of thosc condition5 i5 whollv wtthin the control of the charity and it is probable that these conditions will be fjjlfilled in the rep)rting period. Grants are r¢¢ognised wh¢n the charity h&s an entitlement to the fimds and any conditions linked to the grants have been tnet. Where perfonnance (x)nditions are atth¢hed to the grdnt and are yet to be m¢L th¢ income ts rccognised as a liability and included on the balance sheet &$ dcfcTrcd income to be rel￿e(L InKwlment income DivideniLs are reCO￿lSed once the divideThl h&s b¢¢n declared w)d notification h&5 be¢n Teceiv¢d of th¢ dividend Pag¢ 14 Peterborough CitizeL8 Advite Burevdu Notes to the Financial Statements for the Y¢Ydr Ended 31 Mareh 2024 Expenditure All expenditure is recognised once there is a legal or constructive obligation to th9¢ exp¢nditurc, it is probable settlement is requtred and the amount ¢an be me&sured reliably. All costs are allocated to the appllcable exFnditure heading that aggregate similar costs to i*egory. Where Costs canwt be directly attributed to particular headings thcy have been allocatrd on a basis a)nSiS￿lI with the use of resources, with central staff costs allocatcd on thc b&sis of time SFthi and depreciation chargcs allo(xtcd on the ￿rtIOn of the asset's usc. Other suprK)rt costs are allocated b&sed on the Spr￿ of stsff cost& Charitable expenditure comprises tIM)se L￿ts itmrred by thc charity in the delivery of its athivitics and services for its beneficiaries. It includ&s trM)th eosts that ￿ be all<>cated directly to such a¢tiviti¢S and those costs of an Taxation The ¢harity As ￿nSidered to the tests set out in Paragraph I Schedule 6 of the Fin8n¢e Act 2010 and therefore it meets the definition of a charitsble company for UK ¢ory￿ration lax purposes. AccA)rdingly. the charity is potentially exunpt ftom t&xation in respect of incom¢ or capitai gains received within catrgories vered by Chapter 3 Part I l of the Corp)ration T&x Act 2010 or Section 256 of the Taxation of Chargeablc Gains Act 1991 to the extent that such ino)m¢ or gains are applied eXcI￿1Vely to ¢haTitsble purpose& Tangible fixed assets Individual fixed assets costing £500.00 or more are initially T¢wrded at cosl less any subscquent accumulated depreciation and subsequent ac¢umuiated impatrment losses. Depretl*ti￿ll *nd amortiution Depreciation is provid￿ on tangible fixed assets xj as ￿ ￿lIe off the cost or Valuatio￿ le&s any estimated residual va]ue. over their expected ￿tful ecoTM)mic life as follows: Depreciation oxlbod #Dd rats 3 years strnight line 5 year Strdight line CompLEler equipment Fixtures & fittings Trade debton Trade debtors are amounts due frojn cwtom¢rs for merchandis¢ sold or services performed in the ordinary course of busine5S. Trade debtors ar¢ r¢¢ognised initiaIly at the transaction pric¢. They are subs¢qu¢ntly measured at amortised wst sing th¢ ¢ff¢ctiv¢ intcr&st method less provision for impairmenL A provision for th¢ impairnient of trade debtors is established whcn there is obj¢ctivc cvidence that the tharity will not bc able lo collect all 8mounts due according to the ori￿ t¢rnts of the receivabl¢s. C￿h And ¢qUi￿lents C&8h and cash 4uivalents comprise cash on hand and call thpJsit4 and other short-term highly liquid investments that are readily (xmvertibl¢ to a amount of ¢&8h and are subject to an insignificant risk of change in value. P88e 15 Peterborougb citi￿D5 Advice Bureau Notes to tbe FiDancial Statements for the Year Ended 31 March 2024 Trade ¢reditorJ Tradc crcditors are obligatiork8 to pay for g(yo(b or services that have bcen 4uircd in thc Ordin￿ coutse of busine55 from suppliers. Accounts payable are cl&8sified as current liabilitie5 if the ch￿lty does not have an unconditional righL at thc cnd of thc rcp)rting perio& to dcfcr scttlcrncnt of the ¢r¢ditor for gt 108t tw¢lv¢ months after th¢ reporting date. If there is an unconditional right ￿ def¢r settlement for at least twelve months after the r¢Nirting datc. thcy arc PT¢scntcd &s non￿ur[crrt liabilitic5. Tradc creditors arc recogniscd initially at the Iranwtion price and subsequently me&sured at amortised cost using th¢ cffective interest tnetho(L Fund strllets Unrc5tri¢ta in(xTrme fund8 are general fijnds that are available for the tr￿Slees, discretion in fiwtherdnce of th¢ obj¢aiv¢s of thc tharity. Designated fjjnds are unrestrlcted 8sid¢ for sr¢¢ifi¢ purrylses at the discretion of the tnL￿. Rcstrictcd income funds are those grants for ￿Se in a particular area or for specific purtM)s4 the ￿Se of which is rcstrirt¢d to that arca or purtM)se. Pettsions *ttd otber post rttiremeDt obligations The charity operat&8 a defined contribution pension scheme for employees. The &￿ets of the scheme are held scparatcly from those of the charity. Pension costs charg&% in the Statement of Financial Activities represent the ntribuuons payablc by thc charity during the year. 2 ltteome from don*tious #lld leg•¢ies fuDds General Tot*1 2024 Total 2023 Donations and legaci&s: tkjnations from individuals Grants. including c4pitsl grants" Government grants Grants from othv clwities 577 130.(KK) 1.752 130,(KK) 1.752 175,527 26 131,752 131.752 176,130 3 In¢om¢ from ¢bAri¢*bl¢ activit Rutrirt Dds Tot*1 2024 Totsl 2023 Grants & donations Sundry in¢om¢ 373.977 373.977 323,722 51)0 373,977 373,977 324,222 Po8¢ 16 Peterborough citi￿￿5 Advice Bureau Notss to the Finvdncial Ststements for the Year Ended 31 M2r¢h 2024 4 Grants & dollAtions nds nds Totsl Peterborough City Council 130.0(X) 232.115 50.116 25.746 45.0(M) l.O(M) 20.000 362,115 50,116 25.746 45.0(M) 1,0 20.0 1,752 Change Grow Live- Aspire Th¢ H¢adley Tntst Cambridg¢5hirc Community Foundation N￿lon01 Lx>¢W Community Fund Sundry gtwts & donatiOT 1,752 131,752 373,977 505.729 S Inv¢stmeLt iM¢ome fuuds Gttter¥l Total 2023 2024 Interest receivable and similar inc4)me' Interest r￿ll¥able on bank dewsits 9.765 9,765 1.531 6 Expellditsrn on ¢h•iitable adivitKs Ullrestrirt¢d nds Gen¢rAI Tot*1 2024 Tot*1 2023 nds 20.457 17,492 1,632 32.716 8.256 220,1 (5.621) (14.427) {10.004) (123) (22,7￿} E12.668 20.457 22,693 4.943 33.486 11.840 560.896 13.403 21,311 8,285 10.582 6.433 291.667 5201 3Jll 770 3.584 340.706 5,621 14.427 iO.(MM Other costs Pr¢mis¢s costs Staff Costs Wages, NI & p¢nsion Inten￿1 r¢¢haTges: Staff o)sts Internal recharg¢s: Governance Internal reeharg¢$: Office Internal recharg¢5.' Other 22.790 112.668 135,110 519205 654.315 351,681 Page 17 Peterborough Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 Marcb 2024 7 N¢t ineomingloutgoing resources {outgoingyincoming re50urccs for the y¢ar include: 2024 2023 Depreciation of fixed asscts 1,195 2.323 8 Staff costs The aggregate payroll costs were &8 follows: 2024 2023 Staff costs during tbe yearwere: Wages and salari& Socia] security costs P¢nsion ¢￿Sts 520,893 30,532 9,471 266.771 18,744 6,152 560.896 291,667 The monthly average numt¢r of F¢rsons (including senior management team) employed by the ¢harity during thc ycar was 45 ftillows: 2024 No 2023 No Avcrag¢ numb¢r of employ¢¢s 14 14 Stsff fA)sts in the financial ycar 23124 included the cost of up to 4 agency employccs wlxj are not included in the average number of employcu. 12 (2023 - 13) of the aiM)v¢ employees participated ID the Defined Contribution Patsion Schemes. Contributions to th¢ anpkjyee ￿nSIOn schemes for thc y¢ar totslled £9.471 (2023 - £6.152). No employee r¢tti¥¢d emolutnents of mor¢ than £60.000 during thc y¢ar. Thc totsl employee benefits of the kry management persontKI of the charity were £87,672 {2023 - £111,581). 9 Related p#rty trws•etions There were ￿ r¢l*ed p8ty trdnsactioDs in the year. P88¢ 18 PeterlM)rough citi￿￿3 Adviee Bureau Notss to the Financi21 Slatements for the Yeydr Ended 31 M2reh 2024 10 Tangible fixed assets Jxtsr&s & fittimE5 Computsr equipment TotAI Cost Ai l April 2023 Additions 9,719 850 9,719 4.132 3282 At 31 March 2024 3282 10.569 13,851 Deprtci*tiOD At l April 2023 Charge for the year At 31 March 2024 8,718 593 8.718 1,195 602 602 9,311 9.913 N¢t book vxlu¢ At 31 March 2024 2.680 1.258 3.938 At 31 March 2023 1.001 I,ooi I l Debto 2024 2023 8.101 8.409 6.275 5.700 Other debtors 16.510 11.975 12 Creditors: Imounts falling d•e within one year 2024 2023 Trade ¢reditors Other ￿lon and social security 893 8.883 3.153 5.391 1.824 5.290 4,829 4,003 15.946 Accnthls 18.320 Page 19 Peterborougb Citizens Advice Bureau otes to the FiDaD¢ial Statsments for tbe Year Ended 31 March 2024 13 Obli￿tio￿$ under It￿¢$ #ttd bire pur¢h*se cotstrxcts Operating lease eommÉtinettts Totsl minimum lease payments under Th)n4anc¢llabl¢ operating leases ar¢ as follows: 2024 2023 IAlld and bllildings Within thie year 19,000 14 Funds B4lallce at 31 March 2024 Balance at I April 2023 Incoming Re50•rces expended TraDJfen Unrestricted fvnds Gener41 G¢n¢ral fund 230.416 141,517 (135,110) (18,189) 218,634 Designated Potential redundancy Prcmises fi￿td 302 35,000 30.2(K) 35.000 65,200 65200 Totsl llnrestrieted flllld8 295.616 141.517 (135,110 18,189) 283.834 Re5tri¢trd fund$ Access to Advice (Aspir¢} Household sUp￿rt fimd Cav¢ll Centre The Hcadl¢y TnW Project Surviving Winter App Cost of Living Assessor F(M)dbank Fuel Poverty Incorn¢ M&ximisation 5.744 25.746 204,965 (25.961) (181,029) 5.529 23.936 4.522 (6,874) (4,522} 2.896 45.OCMI (41.022) (w) (30.750) (97.081) loo 13.265 24,015 20.IKKI 77.266 19,815 1,288 170.632 1,288 28.170 142,462 Total rethirted hnds 199,327 373,977 (519,205 18.189 72.288 Total fvnds 494,943 515,494 654,315 356,122 P88e 20 Peterborough Cilivns Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 Balanee *t 31 Mgreh 2023 Bal4n¢t At I April 2022 Incomin% Resources expended Traosfers Umr¢strirted huds G¢nfftl fund 261172 178.161 (185.198) (24.719) 230,416 Poteffltal Yedundan¢y 302IX) 35.000 30,200 35.000 652LK) 65200 Total ¥nr¢8trltted funds 327.372 178.161 (185,198) (24.719) 295.616 AcC￿S to Advice (Aspire) Cavell Centre The Headley Tr￿ Project Advtce Line (NLCF) Survivtng Winter Appeal CO￿ of Living A&8e&8or FTh)dbank Fu¢1 Poverty In¢om¢ Maximisation Small Projects (NCA) Total restrict¢d funds 24.822 {19.078) (s.000} (21,874) (8.862) (6.660) (299) (87.887) 5.744 4.522 (6.874) 12.522 15.(KM) 222 701 2.315 24J14 71,487 24,015 2,636 1288 13.764 1,288 170.632 181.455 (10.823) 17.369 323,722 (166,483) 24.719 199,327 Total ￿Trds 344.741 501.883 351,681 494.943 P88e21 Peterborough Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 Marcb 2024 The specific purFoses for which the funds are to b¢ 8pplid are as follows: Access to Advice (Aspir¢) - a project ￿ embed general advice into the Petertx)rough Aspire offices to sUp￿)rt cli¢nts on a r¢covcry pathway from substsn¢¢ abus¢. Cavell Centre- An outreach centre supp)rtcd by Ev¢lyn CCF ond Strdngward Charitabl¢ Tn￿L Headl¢y Trust- a proj¢¢t ￿ supp)n people in P￿er1￿)ugh negatively impact￿] by the ￿$1 of living crisis. The funding 15 ￿ntInUIng into th¢ n¢xl puiod. Surviving Winter Appeal- A project funded by CCF to assist clients with ¢nergy bills. Cost of Living Ass¢ssor- fimded by national CitizerLS Advice & Award5 for All to undertake initial &8sessments of advice needs for new ¢lients. Foodbank- Funding from PetertKirough F(M)dbank to providc inforniation and advice to Foodbank customcrs to help thcm to dcal with food p)v¢rty and maximi5e in¢ome through benefit tske up. Fuel ￿)verty - A project funded from charity restricted r¢s¢rYes - remote ￿1VICe to &8SiSt the clients with their cncrgy bills. Incom¢ MaximTsation- A proj¢a filltskd by Petertx)rough City Council to supp)rt locai people dealing with the cost of Itving crisis to maximise their inLX)me through bcncfit tsk¢ dealing wth their debts. Ho￿ehold supw>rt fimd - Funding from Peterlx)rough City Council via the H0￿chold SuptKTrrt Fund ty issu¢ Fucl and Food vouth¢rs to hous¢holds t1￿ m¢t th¢ ¢ligibility criteri& Also last year there were th¢ following projects: Advice Lin¢- a project fimded by the National IA)ttery to fund a salary of a telephone wJvi¢¢ sup￿rt worker. Small Projects ￿CA)- Srnall of money from national Citizens Advicc to core advice serviccs. The transfer from the Cavell Fund to thc F(y)dbank FuThJ to cornbine these two fi]nds with similar alms. Th¢ transfer from the Generat fimd to the Foodbank fimd and the Headley Tn￿£ Project w&8 to cover the deficit on these activitie 15 AnAIysi8 of net assets betwttn funds UBr¢stiieted 2024 Totsl fuDd$ General DesitDated Tangible fixcd &s5cts CurrenÈ Lssets Current liabilities 3.938 233,016 18.320) 3,938 370.504 18,320 65200 72,288 Total nct ass¢ 218,634 65,200 72.288 356,122 U•r¢strieted 2023 Totsl fuDd8 GeDer*l Desienated Tangible fixed assets 1.001 244.661 15.246 i.ooi 509,888 15,946 65,200 200,027 700 Current liabiliti¢s Total n¢t &8sets 230,416 65200 199.327 494,943 Pgge 22 Peterborougb Citizens Advice Bureau Notss to the Financial Statements for the Year Ended 31 Mareh 2024 16 Fees payable to independent tumiDer DuTing the perio& th¢ fe¢s pmyable {¢xcluding VAf) to the cTrwity's ind¢p¢nd¢nt examin¢r Conununxty Acix)unting Plus are analysed as follows: 2024 2023 Independ¢nt examination 1.735 1.570 17 Taxation The charity is a registered charity and is therefore exempt from t&wiorL 18 Trustees remutttr*tiOD #Dd txpenges No tnLSttts, nor any persons ￿nnected with them. have received any remuneration from the charity during the No u￿t￿5 hav¢ r￿¢1Ved any r¢imbursed expenses or any other benefits from thc dwity during the year. 19 Charity statlls Th¢ ¢hgrity is & comFany litnited by 8uarant¢e and ¢ons¢quently does not havc share (zpital. FAch of thc tr￿SteeS is liable th contributc an amount not exceeding £10 towards the assets of thc charity in the ¢v¢nt of liquidatio Pag¢ 23