**Company registration number: 03501846 Charity registration number: 1069301**
## **HARINGEY CITIZENS ADVICE BUREAUX**
**(A company limited by guarantee)**
**TRUSTEES' REPORT AND DRAFT FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **CONTENTS**
||**Page Number**|
|---|---|
|Charity Reference and Administrative Details|3|
|Trustees' Report|4 – 12|
|Independent Auditor’s Report|13 – 15|
|Statement of Financial Activities (incorporating the Income and Expenditure Account)|16|
|Balance Sheet|17|
|Statement of Cash Flows|18|
|Notes to the Financial Statements|19 – 30|
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## **HARINGEY CITIZENS ADVICE BUREAUX**
## **CHARITY REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025**
## **Trustees**
The directors of the charitable company are its Trustees for the purposes of charity law. The Trustees who have served from 1 April 2024 up to the date of approval of these financial statements were as follows:
Andrew Godfrey Chloe Hedman (Resigned 25[th] November 2024) Richard Warner Sean O’Donovan Gloria Saffery-Powell (Resigned 3[rd] March 2025) Peter Mitchell Cruz Glynka Lorna Reith Giselle McGowan Richard Teuten (Co-opted 29[th] July 2024) Rachel Ormsby (Co-opted 28[th] October 2024) Ryan Homes (Co-opted 28[th] October 2024)
**Company registration number** 03501846 **Charity registration number** 1069301
**Registered office** 20E Waltheof Gardens London N17 7DN Bureau address: Waltheof Gardens Citizens Advice 20E Waltheof Gardens London N17 7DN
**Chief Executive and Company Secretary** Daniel Blake
## **Independent auditors**
Beever and Struthers Chartered Accountants & Business Advisers 150 Minories London EC3N 1LS
## **Bankers**
The Co-operative Bank plc 1 Balloon Street Manchester M60 4EP
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## **HARINGEY CITIZENS ADVICE BUREAUX**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
The Trustees present their report and the financial statements for the year ended 31 March 2025
The financial statements comply with the Charities Act 2022, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
## **Structure, Governance and Management**
The company is limited by guarantee, governed by its memorandum and articles of association dated 30 January 1998 and last amended on 6 October 2011, and registered under the number 03501846. The company is registered as a charity under the number 1069301. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.
Citizens Advice Haringey operates under the membership umbrella of National Association of Citizens Advice Bureaux who provide the framework for standards of advice and casework management. Citizens Advice Haringey (CAH) co-operates and liaises, on behalf of its clients, with a number of advice agencies in the borough, local charities, the Health Authority and Council services.
The affairs of Citizens Advice Haringey are governed by the Board of Trustees who meet at least four times a year. The members of the charity are individuals companies or organisations who are interested in furthering the work of the charity and who are not paid, or volunteer workers of the charity. Each member has one vote.
The ordinary membership, as well as the make-up of the Trustee Board, is reviewed annually prior to the Annual General Meeting. We carry out a skills audit and an assessment of the diversity of the Board. This is followed by a recruitment campaign for both ordinary members and potential Trustees. This is done using our extensive network across the local voluntary and community sector as well as specialist agencies.
## **Board of Trustees**
The members of the Board of Trustees perform the role of directors in company law and are the Trustees in charity law. Those who served during the year, except where indicated, are listed on page 3.
We would like to thank our Trustees for the dedication and commitment they have given over the years.
## **Organisational Structure**
A Trustee Board, of currently 10 members, administers the charity. They meet at least four times per year with additional quarterly meetings of the subcommittees for Finance & Resources and People & Effectiveness. The Chief Executive of the organisation has been appointed by the Trustees to manage the day-to-day operations of the charity. In addition, there is an experienced team of paid staff and a substantial team of volunteers who are key to the service offered by the charity.
Decisions are made by the Trustee Board in line with the Business Development Plan and are reviewed at least annually. The Senior Management Team meet to review progress against targets and the Charity's financial position and to discuss issues referred to them by the Trustee Board. Reports and recommendations are then taken to the full Board for approval, and their implementation is organised by the Chief Executive and the staff team.
There are regular staff, volunteer and senior management team meetings which ensure that progress is being made against targets and also enable early troubleshooting when problems arise. There is an Annual General Meeting, which involves the staff team, Trustee Board, members, and Stakeholders.
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## **HARINGEY CITIZENS ADVICE BUREAUX**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
## **Remuneration of Key Management Personnel**
The Trustees consider that the Board of Trustees and the Senior Management Team (SMT) comprise the Key Management Personnel of the charity.
All Trustees give their time freely and no Trustee received remuneration in the year. Details of Trustees’ expenses and related party transactions are disclosed in notes 7 and 9 to the financial statements.
Remuneration for the of SMT is set out in note 9 to the financial statements.
## **Related Parties**
In addition to its membership of Citizens Advice, the charity also cooperates and liaises with a number of other advisory services, local charities and Council departments on behalf of clients. Where one of the Trustees is also involved with another relevant organisation, they may be involved in discussions about it but not in any decisionmaking process.
## **Public Benefit**
We review our aims, objectives and activities on a regular basis. This review looks at what we achieved and the outcomes of our work in the previous twelve months. It looks at the success of each key activity and the benefits to those groups of people we are here to help and it also helps us to ensure our aims, objectives and activities remain focussed on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.
## **Objectives, Activities and Achievements**
The objectives for which the charity was established as defined in the Articles of Association are the promotion of any charitable purposes for the benefit of the community in Haringey and surrounding areas by the advancement of education, the protection of health and the relief of poverty and distress.
CAH helps people get the support they need and enables them to manage their lives better in times of crisis. Life is complicated and things can go wrong for all of us. CAH’s free, impartial advice is crucial and highly valuable to individuals, the Council, government and society as a whole.
CAH seeks to put the client at the heart of everything we do. We are committed to a community centred approach that recognises our clients, local community, social and faith networks as assets, not people with problems.
We also emphasise the importance of early intervention and prevention, seeking to understand and act on the underlying causes of demand for our services and tackle preventable systemic failure.
CAH aims to achieve these by taking the following approach.:
- To follow the policies and guidelines set down by Citizens Advice.
- To develop an effective front-line advice service by harnessing a local diversity of volunteers and training them to a high standard.
- To complement and support CAH based services through a network of outreach advice sessions and managerial and administrative resources.
- To control financial operations by the use of a Business Development Plan and Budget.
- The setting up of subcommittees to further particular aspects of the charity's activities and responsibilities including health and safety, finance, human resources and quality of advice services
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## **HARINGEY CITIZENS ADVICE BUREAUX**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
## **Information, Advice and Guidance:**
Citizens Advice Haringey (CAH) in partnership with two subcontractors (Vibrance and Public Voice) continue to deliver the Information, advice and guidance contract to residents and those who work in Haringey as part of the Haringey Advice Partnership.
The service has been at the heart of our efforts to support residents to live a good life with a reasonable standard of living.
The aims of the service are to:
- Deliver a universal, comprehensive and quality assured information, advice and guidance offer to improve the capacity of all residents in Haringey to manage their needs independently of the Council, and to access the right support at the right time, with a focus on early help and prevention
- Build the capacity of individuals to manage their own information, advice and guidance needs and resolve similar issues themselves in the future
- Build peer and community support around information, advice and guidance through community-led initiatives.
During the year Citizens Advice Haringey dealt with over 11,000 clients , and of those 48% were disabled or had a long term health condition. The top three issues people sought help with were housing, welfare benefits/debt and employment. We have seen an increase throughout the year in those seeking emergency support with either food or heating costs.
Our successes have included financial gains for our clients amounting to over £6,000,000 including benefit appeals and charitable applications for individual support.
## **Review of Activities and Achievements 2024- 2025**
- Bringing in over £4 million to the borough in new benefits, written off and restructured debt and additional income.
- Remaining strategically relevant through participation in key groupings, committees and working groups including voluntary sector CEO’s group, Homelessness Reduction Board and local Safeguarding Board.
- Leading on the managed migration of residents from legacy benefits to Universal Credit
- Successfully transitioning our adviceline function from the group equity model to a stand-alone Haringey service increasing our answer rate
- Playing a key strategic role in the formation and development of Citizens Advice London.
- Distributing over 10k of funds to vulnerable residents in the form of food and energy vouchers during the year.
- Investing in growth funds for the long term sustainability of the organisation.
- Recruiting over 50 new volunteers with 96% of those now delivering services to clients.
- Developing and launching a podcast series.
- Forged closer links with neighbouring LCA’s as part of regionalisation and sustainability strategy.
The cost of living crisis has continued to affect Haringey residents adversely. Child poverty in Tottenham is now at 46% and many families remain trapped in a negative budget situation.
2024 saw the election of a new government who have stated their ambition to reduce the national welfare bill and support more adults into employment. We are concerned the proposed changes to disability benefits will drive many in the borough into poverty. We are working with partner agencies and the local authority to understand the impact of these changes.
Our advice model is designed to get the relevant support to people as quickly as possible. Initial contact is routed via
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## **HARINGEY CITIZENS ADVICE BUREAUX**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
the telephone system with information also available online via our new website. We now manage our own telephone advice line and we are answering more calls for the first time than ever before.
We continue to work at a London level to engage with other Citizens Advice and explore where funding opportunities, collaboration and shared service development may be available.
We continue to engage with the wider voluntary and community sector as key partners on the Voluntary and Community Sector CEO group and via the voluntary sector forum. In addition to the IAG contract we have also delivered the Help through Crisis project funded by the GLA and the Private Rented Sector project funded by the Big Lottery and delivered in partnership with Pro-Bono Communities.
The key statistics collected from our advice related activities over the reporting period 2024 - 2025 were:
- We dealt with over **11,000** clients by face-to face, telephone and email, as well as assisting other clients with on-going cases.
- 25,466 issues were addressed.
- The gender split of our clients was 60% female and 40% men
- Of those clients whose disability and health status was recorded:
- 50% of clients were disabled and/or had long-term health problems
- The two most commonly recorded types of disability were long term health conditions (42%), and those with a mental health condition (22% of disabled clients).
- The breakdown of ethnicity and nationality of our clients was:
- 46% of clients were from black, Asian and minority ethnic (BAME) backgrounds
- The age range of our clients was:
- 83% of our clients were aged 25-64
- 14% aged 65 or over
- 3% aged under 25
## **The Trustee Board**
The Trustee Board has continued to provide strong governance, meeting regularly, discussing policies and procedures and making and approving decisions on major governance issues. The Board has been strong on financial stewardship and encouraged greater fundraising activity to ensure the sustainability and further development of the organisation.
Both subcommittees, Finance & Resources and People & Effectiveness have continued to meet regularly in order to ensure organisational compliance and development.
The ordinary membership as well as the makeup of the Trustee Board is reviewed annually prior to the Annual General Meeting.
The Board discusses policies and procedures and makes and approves decisions on major governance issues. It also ensures that there is an appropriate strategic plan and that this is being carried out effectively. The day-to-day management of the charity is delegated to staff through the Chief Executive and then to the members of the management team. The management team meets regularly. There are two subcommittees of the Board, Finance & Resources and People & Effectiveness, who meet quarterly, consider important issues and report to the main Board. Trustees worked closely with the Chief Executive to develop the new Business Plan and to monitor progress in achieving previously agreed milestones outlined in the Business Plan.
## **Campaign and Research**
Our twin and equal aims are to provide the advice people need for the problems they face and to improve the policies and practices that affect people's lives. Therefore, we need to ensure that we maximise our ability to spot trends, highlight issues and provide a bank of evidence to influence present and future policies. It will continue to be a core
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## **HARINGEY CITIZENS ADVICE BUREAUX**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
aim of Citizens Advice Haringey and the Citizens Advice Bureaux family to provide evidence to support and stimulate debate, to campaign and lobby on key social policy issues, and to influence the policy makers and service providers. Citizens Advice Haringey continued to endeavour to influence policy in key areas of:
**Welfare Policy Research:** Welfare benefits is our largest advice area, giving us clear insights into the way the system works and the challenges it poses. We continue to collect evidence and short reports to highlight the importance of income security in general, as well as the particular challenges it poses for certain groups. These include those on low incomes receiving in-work benefits, as well as disabled people and those with long-term health conditions.
**Consumer Policy Research:** Covers regulated and unregulated markets allowing us to identify problems and draw comparisons about policies and practices. Consumer advice trends provide statistics on the number of consumer issues dealt with by our national network
**Debt and Money Policy Research:** Citizens Advice helps hundreds of thousands of people with debt and money problems each year giving us insight into how we can prevent money problems and help people to recover. Citizens Advice Haringey will continue to provide evidence to Citizens Advice
**Energy Policy Research:** Ensuring opportunities to make the energy market function better are not missed and consumers have good reason to become more confident and engaged. We continue to raise awareness through our Scam Awareness campaigns and Energy Week events
We are committed to increasing the range, quality and quantity of our campaigns and research work so that we can take every opportunity to improve the lives of not only our clients but for all in Haringey. We regularly make contributions to local media aimed at addressing the needs of our community
## **Partnerships & Business Development**
Throughout this year the organisation has continued to develop new partnerships and to grow current ones. Currently we work with Vibrance, Public Voice, Bridge Renewal Trust, Selby Trust, Disability Action Haringey, Mind in Haringey and Ark Resettlement Services
We have continued working with health partners to ensure there is a coherent advice and information offer for people accessing health services. We are in discussions with the new health commissioners regarding a coherent advice model for primary care.
Citizens Advice Haringey continues to work well with London & Quadrant Housing Trust providing the Pound Advice Project taking direct referrals from the Housing Association. Advice and assistance is provided to deal with rent arrears and benefit problems, reduce debt and maximise income.
We have enjoyed a fruitful partnership with Pro Bono Community - an organisation that provides volunteer placements for trainee solicitors. In addition to providing general volunteers we were delighted to work together on A Big Lottery funded project providing remote support and legal advice to residents of the borough living in Private Rented Sector accommodation. This project has now been funded until 2026
We are also a constituent member of London Citizens Advice and leading on developing a stronger regional approach with neighbouring LCA’s.
## **Internal and External Factors**
Maintaining external quality accreditation is essential for the charity. We passed our Leadership Self Assessment Verification visit scoring green-green. We continue to maintain our audit standards with systems for record checking, independent file reviews and support for staff and governance.
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## **HARINGEY CITIZENS ADVICE BUREAUX**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
## **Future Developments**
Citizens Advice Haringey aims to continually improve access to its service and to maintain a high quality service for as many clients as possible, focussing on those most in need and being innovative about methods of service delivery. We work in partnership with other local agencies both to prevent problems arising for clients and to help them resolve problems that have arisen. In order to achieve our objectives, we have the following plans for future work and developments:
1. Access to our Service - Monitoring and Assessing the Service
- Review systems each year to ensure the service is still meeting needs, especially in light of changes in the operating environment.
- Implement our target for optimum number of volunteers, taking into account their support needs, and develop a strategy to recruit to this number.
- Develop further digital self-help materials to assist local people and develop our website to make it easier for individuals to access information and advice.
2. Maintain and Develop Excellent External Relationships
- Continue links with key partnerships and identify what joint funding bids can be submitted.
- Continue to assess the operating environment for our work and confirm where we should collaborate and where we should compete with other organisations.
- Look to develop further the links we have made within the local community and look to diversify our income streams.
3. Provide Support and an Efficient Staff Structure for Staff
- Explore further e-learning and other methods to ensure that staff’s training needs are met.
- Continue with our system of annual appraisals for all staff to identify training needs and assess how effectively these have been met.
- Move office to a more effective space
4. Increase Income
- Work with local Commissioners to influence what services are sought under contract and prepare to bid for these, working in cooperation with other local providers wherever possible.
- Assess the feasibility of increasing income from charitable and statutory sources in light of the increased involvement of the voluntary sector in providing public services.
- Further develop partnerships with other Haringey groups and neighbouring Citizens Advice so we are in a strong position for partnership bids.
5. Engage more in campaign and research
- Continue to monitor work and carry out local campaigns where appropriate.
- Continue to respond to national initiatives.
- Ensure that new staff are fully engaged in campaign work.
6. Maintain External Quality Accreditation
- Ensure that policies are implemented so that we remain in a strong position to pass our next audit.
- ● Implement the new Citizens Advice Membership package.
## **Principal Risks and Uncertainties**
The Board of Trustees reviews the major risks to which the charity is exposed through a series of risk assessments that also details mitigation strategies and is updated at least annually. Significant external risks to funding are taken into account in the charity’s development strategies and business plans which allow for diversification of funding and activities. The Trustees continue to review the financial risks to which the organisation is subject due to the generally
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## **HARINGEY CITIZENS ADVICE BUREAUX**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
unfavourable economic climate and challenging funding environment. The Trustees believe that these and other risks will be mitigated by:
- A Board of Trustees with the necessary experience and competence to supervise all aspects of the operation of the charity
- Regular Trustees' meetings with effective reporting to ensure proper review of operations
- The establishment and maintenance of an effective and comprehensive system of internal control to ensure that the Trustees' financial responsibilities are properly discharged
- Maintenance of good relations with core funders ensuring all obligations are met in accordance with instructions of funders
- Continuing efforts to seek alternative sources of funding in order to diversify risk and reduce reliance on specific funders
Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety, equal opportunities, data protection, and adult and vulnerable adults protection legislation.
## **Financial Review**
For the year ending 31st March 2025, income totalled £980,334, a 10.2% increase from the prior year (2024: £889,287). This is represented by unrestricted income, which increased by 2.2% to £799,779 (2024: £782,035), and constitutes 81.6% of total income (2024: 80.0%) and restricted income, which increased by 68.3% to £180,555 (2024: £107,252).
Total expenditure for the year amounted to £934,940 (2024: £889.287) and resulted in a net income/expenditure surplus of £45,394 before any gains or losses on investments are taken into consideration. The charity's investment assets recorded a valuation gain of £19,643 (2024: £0).
Funds brought forward from the previous year totalled £1,295,817 (£1,295,817 unrestricted / £0 restricted), putting the final funds held by the charity at £1,360,854 at the year-end, comprising £1,360,854 unrestricted and £0 restricted funds.
## **Principal Funding Sources**
The charity received funding from the London Borough of Haringey, We Are Digital, Big Lottery/Pro-bono Communities, National Association of Citizens Advice, Greater London Authority, Whittington NHS Trust and Bridge Renewal Trust.
This funding was spent on providing generalist advice, primarily to the residents of the London Borough of Haringey, through the core gateway and appointment services at the bureau and outreach services in health hubs and specialist projects. We continue to pursue other funding opportunities as they arise, in accordance with our threeyear funding strategy and our identified priorities.
## **Reserves Policy**
The Board of Trustees has examined the charity's requirements for operational reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be 3 months of the expenditure excluding the expenditure on finite projects. This gives a target of around £400,000 in general unrestricted funds as a minimum. The Trustee Board also wish to set aside a general reserve for items such as investment in IT infrastructure of £20,000.
The present level of free reserves available to the charity total £1,349,659. This figure comprises of the unrestricted reserves of £1,341,211 and revaluation reserves of £19,643 less the unrestricted fixed assets of £11,195. **Investment Policy**
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## **HARINGEY CITIZENS ADVICE BUREAUX**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
The Board of Trustees have invested part of the free reserves, with the objective of ensuring the long-term financial security of the Charity and improve its ability to complete its charitable mission. They have appointed Cartwright Benefit Solutions to provide investment management advice.
The Trustees are overall responsible for the decisions regarding the investments of the Charity, where as the management of the investments has been delegated to the Finance and Resources subcommittee. The Trustees receive quarterly reports on the fund and benchmarking performance, as well as formally reviewing the strategy and fund suitability at least every three years.
The investment strategy focuses on:
- Growth assets: Diversified across asset class, geography, and sector to achieve long-term growth.
- Asset allocation: Balancing growth and protection assets to target an expected net return of c.8.8% p.a.
- Cash flow needs: Lower-volatility funds are used to manage immediate liquidity requirements.
- Investment funds are selected based on their alignment with objectives, costs, and risk-return profiles.
Trustees actively monitor and manage investment risk. Key areas include:
- Diversification across asset classes, sectors, and geographies
- Use of actively managed funds where appropriate
- Maintenance of adequate liquidity
- Consideration of capital volatility in line with long-term goals
- Incorporation of environmental, social and governance (ESG) principles into fund selection
- Environmental, Social and Governance (ESG) factors are integral to the investment selection and monitoring process. The Trustees may review the investment managers’ ESG policies and may engage or disinvest from funds that do not align with the Charity’s ESG standards.
## **Investment Performance**
Since the initial £1.1m investment in August 2024, the value of the investment has increased by c.£78k (7.1%) over the period to 31st December 2024. In the following period, a decline in global equity markets caused the invested assets to decrease in value by c.£61k. Despite this depreciation, the investment portfolio has yielded net gains of £19,643 to 31st March 2025.
The operational reserves are needed to meet the working capital requirements of the charity and the Board of Trustees are confident that at this level they would be able to appropriately manage the activities of the charity in the event of a temporary but significant drop in core funding. This is in line with general guidance on charities and not for profit organisations, and with three-month notice periods in contractual or service level agreements.
## **Statement of Board of Trustees’ Responsibilities**
The Trustees (who are also directors of Haringey Citizens Advice Bureaux 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 that give a true and fair view of the state of affairs of the charitable company, and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2015 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, 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 presume that the
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## **HARINGEY CITIZENS ADVICE BUREAUX**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
charitable company will continue in operating.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Statement of Disclosure of Information to Auditors**
In so far as the Trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Auditors**
A resolution proposing that Beever and Struthers be re-appointed as auditors of the charitable company will be put to the Annual General Meeting.
## **Small Company Exemptions**
The report of the Trustees has been prepared taking advantage of the small companies’ exemption of section 415(A) of the Companies Act 2006.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2022 and 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.
This report was approved by the Board of Trustees on 29[th] July 2025 and signed on its behalf by:
## **Lorna Reith**
## **Chair**
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**HARINGEY CITIZENS ADVICE BUREAUX**
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF HARINGEY CITIZENS ADVICE BUREAUX FOR THE YEAR ENDED 31 MARCH 2025**
## **Opinion**
We have audited the financial statements of Haringey Citizens Advice Bureaux (the ‘charitable company’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities (incorporating the Income and Expenditure Account), the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies in note 1. 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).
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 incoming resources and application of resources, including 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 charitable company 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 the provisions available for the audit of small entities, in the circumstances set out in note 8 to the financial statements, 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 Board of 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 Charitable Company’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 Board of Trustees with respect to going concern are described in the relevant sections of this report.
## **Other Information**
The other information comprises the information included in the Trustees’ Report, other than the financial statements and our auditor’s report thereon. The Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the other information. 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 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.
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## **HARINGEY CITIZENS ADVICE BUREAUX**
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF HARINGEY CITIZENS ADVICE BUREAUX FOR THE YEAR ENDED 31 MARCH 2025**
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the Trustees’ Report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of Trustees**
As explained more fully in the Statement of Board of Trustees’ Responsibilities set out on page 12, the Trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the Trustees 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 charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
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.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s web-site at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
14
**HARINGEY CITIZENS ADVICE BUREAUX**
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF HARINGEY CITIZENS ADVICE BUREAUX FOR THE YEAR ENDED 31 MARCH 2025**
## **Extent to which the audit was considered capable of detecting irregularities, including fraud**
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and addressing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:
- We obtained an understanding of laws and regulations that affect the charitable company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the Companies Act 2006, Charities Act 2011, Charities Regulations 2008, tax legislation, health and safety legislation, and employment legislation.
- We enquired of the Trustees and reviewed correspondence and Trustee meeting minutes for evidence of noncompliance with relevant laws and regulations. We also reviewed controls the Trustees have in place, where necessary, to ensure compliance.
- We gained an understanding of the controls that the Trustees have in place to prevent and detect fraud. We enquired of the Trustees about any incidences of fraud that had taken place during the accounting period.
- The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks.
- We reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above.
- We enquired of the Trustees about actual and potential litigation and claims.
- We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud.
- In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.
## **Use of our report**
This report is made solely to the charitable company’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s Trustees 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 charitable company and the charitable company’s Trustees as a body for our audit work, for this report, or for the opinions we have formed.
## B eee and Struthers
**Beever and Struthers** 150 Minories **Chartered Accountants** London **Statutory Auditor** EC3N 1LS
## **Date: 21 August 2025**
Beever and Struthers is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
15
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025**
|**Note**
**INCOME AND ENDOWMENTS FROM:**
Donations
2
Charitable activities
4
Investments
3
Other
**TOTAL INCOMING RESOURCES**
**EXPENDITURE ON:**
Charitable activities
5
**TOTAL RESOURCES EXPENDED**
**NET INCOME / (EXPENDITURE)**
**TRANSFERS BETWEEN FUNDS**
15
**NET INCOME / (EXPENDITURE)**
**BEFORE OTHER GAINS AND LOSSES**
Gains / losses on revaluation of fixed
assets
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
15|**Total**
Total
**Unrestricted**
**Restricted**
**Funds**
Funds
**Funds**
**Funds**
**2025**
2024
**£**
**£**
**£**
£
**-**
**-**
**-**
-
**783,328**
**180,555**
**963,882**
885,244
**-**
**-**
**-**
4,043
**16,452**
**-**
**16,452**
-|
|---|---|
||**799,779**
**180,555**
**980,334**
889,287|
||**712,296**
**222,644**
**934,940**
817,843|
||**712,296**
**222,644**
**934,940**
817,843|
||**87,483**
**(42,089)**
**45,394**
71,444
**(42,089)**
**42,089**
**-**
-|
||**45,394**
**-**
**45,394**
71,444|
||**19,643**
**-**
**19,643**
-|
||**65,037**
**-**
**65,037**
71,444
**1,295,817**
**-**
**1,295,817**
1,224,373
**1,360,854**
**-**
**1,360,854**
1,295,817|
All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above.
The notes on pages 20 to 30 form an integral part of these financial statements.
16
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **COMPANY REGISTRATION NUMBER: 03501846**
## **BALANCE SHEET AS AT 31 MARCH 2025**
|||||**2025**|||2024|
|---|---|---|---|---|---|---|---|
||**Note**||**£**|**_£_**||£|£|
|**FIXED ASSETS**||||||||
|Tangible assets|11|||**11,194**|||5,833|
|**CURRENT ASSETS**||||||||
|Debtors|12|**58,337**|||45,932|||
|Investments|13|**1,117,543**|||-|||
|Cash at bank and in hand||**216,573**|||1,267,909|||
|||**1,392,453**|||1,313,841|||
|**CREDITORS**: amounts falling||||||||
|due within one year|14|**(37,915)**|||(23,388)|||
|**NET CURRENT ASSETS**||||**1,354,538**|||1,290,452|
|**TOTAL ASSETS LESS CURRENT**||||**1,365,733**|||1,296,285|
|**LIABILITIES**||||||||
|**CREDITORS:**amounts falling due|15|||**(4,878)**|||(468)|
|after more than one year||||||||
|**TOTAL NET ASSETS**||||**1,360,854**|||1,295,817|
|**CHARITY FUNDS**||||||||
|Revaluation Reserve|16|||**19,643**|||-|
|Restricted funds|16|||**-**|||-|
|Unrestricted funds|16|||**1,341,211**|||1,295,817|
|**TOTAL CHARITY FUNDS**||||**1,360,854**|||1,295,817|
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies but the Trustees’ have elected to have an audit under the Charities Act 2011.
## Directors’ responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements set out on pages 20 to 30 were approved and authorised for issue by the Board of Trustees on 29 July 2025 and were signed on their behalf, by:
**Lorna Reith Chair**
The notes on pages 20 to 30 form an integral part of these financial statements.
17
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025**
|**Note**
**Cash flow from operating activities**
Net cash flow from operating activities
I
**Cash flows from investing activities:**
Dividends, interest and rents from investments
Purchase of investments
Purchase of tangible fixed assets
**Net cash provided by/(used in) investing activities**
**Cash flow from financing activities**
Repayments of borrowings
**Net Cash provided by/(used in) financing activities**
**Change In cash and cash equivalents in the year**
Cash and cash equivalents brought forward
**Cash and cash equivalents carried forward**
**Note I**
Net movement in funds
Depreciation
(Gains) / losses on investments
Dividends and interest from investments
Decrease/ (Increase) in debtors
Increase/ (decrease) in creditors
Net cash inflow from operating activities|**2025**
**£**
**52,511**
**5,215**
**(1,100,000)**
**(9,062)**
**(1,103,847)**
**-**
**-**
**(1,051,336)**
**1,267,909**
**216,573**
**65,037**
**3,700**
**(17,543)**
**(5,215)**
**(12,405)**
**18,937**
**52,511**|2024
£
91,438
4,043
-
(2,335)|
|---|---|---|
|||1,708
-|
|||-|
|||93,146
1,174,763
1,267,909
71,444
2,782
-
(6,548)
65,298
(41,538)
((102,188)|
|||91,438|
The notes on pages 20 to 30 form an integral part of these financial statements.
18
**HARINGEY CITIZENS ADVICE BUREAUX**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**
## **1.1 General Information and basis of preparation**
Haringey Citizens Advice Bureaux is a registered charitable company limited by guarantee (Charity number 1069301, Company number 03501846) with the Charity Commission and Registrar of Companies in England and Wales. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. The address of the registered office is 20E Waltheof Gardens, London, N17 7DN. The nature of the Charity's operations and principal activities are the promotion of any charitable purposes for the benefit of the community in Haringey and surrounding areas by the advancement of education, the protection of health and the relief of poverty, sickness and distress.
The Charity constitutes a public benefit entity defined by FRS 102. The financial statements have been prepared in accordance with Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.
The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the Charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **1.2 Funds**
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.
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.
19
## **HARINGEY CITIZENS ADVICE BUREAUX**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)**
## **1.3 Income recognition**
All incoming resources are included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
No amount is included in the financial statements for volunteer time in line with the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019. Further detail of the contribution of volunteers is given in the Trustees' Report.
Income from government and other grants and contracts is recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by Charity; this is normally upon notification of the interest paid or payable by the Bank.
## **1.4 Expenditure recognition**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties that will result in the outflow of economic benefit. Expenditure on charitable activities includes all costs incurred on furthering the objects of the Charity.
Irrecoverable VAT Is charged as an expense against the activity for which the related expenditure arose.
## **1.5 Support costs allocation**
Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, governance costs, administrative and payroll costs. They are incurred in support of expenditure on the objects of the Charity and include project management carried out al Headquarters. Where support costs cannot be directly attributed to particular headings they have allocated expenditure on charitable activities on the basis of staff time involved in the activity.
The analysis of these costs is included in Note 6.
20
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)**
## **1.6 Tangible fixed assets**
All assets costing more than £500 are capitalised.
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Computer equipment 33.33% Straight line Other office equipment 20.00% Straight line
## **1.7 Debtors receivable and creditors payable within one year**
Debtors are recognised when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Creditors are recognised when the Charity has a present legal or constructive obligation resulting from a past event and the settlement is expected to result in an outflow of economic benefits.
## **1.8 Provisions**
Provisions are recognised when the Charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
## **1.9 Financial Instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Cash is held at cost. Other basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost using the effective interest method.
## **1.10 Leases**
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.
Rentals payable and receivable under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
21
**HARINGEY CITIZENS ADVICE BUREAUX**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)**
## **1.11 Employee benefits**
The charity operates a defined contribution pension scheme, contributions to which are expensed in the Statement of Financial Activities as they become payable.
## **1.12 Taxation**
By virtue of s. 478 Corporation Tax Act 2010, the Charity is exempt from Corporation Tax.
## **1.13 Going concern**
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 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.
## **1.14 Judgements and key sources of estimation uncertainty**
The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:
- Depreciation rates for tangible fixed assets
- Basis of valuation of financial instruments
## **1.15 Investments**
Investments are classified as current assets and stated at market value. Income from investments is credited to the Income and Expenditure Account on a receivable basis. Movements in market value of investments are taken to the revaluation fund via the Statement of Comprehensive Income.
22
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **2. INCOME FROM DONATIONS**
|**2. INCOME FROM DONATIONS**|**2. INCOME FROM DONATIONS**||
|---|---|---|
|**Unrestricted**
**Funds**
**2025**
**£**
**Restricted**
**Funds**
**2025**
**£**
Donations
**-**
**-**
**3. INCOME FROM INVESTMENTS**
**Unrestricted**
**Funds**
**2025**
**£**
**Restricted**
**Funds**
**2025**
**£**
Bank interest
**5,215**
**-**
In 2025, all income from investments was unrestricted.
**4. INCOME FROM CHARITABLE ACTIVITIES**
**Unrestricted**
**Funds**
**2025**
**£**
**Restricted**
**Funds**
**2025**
**£**
**London Borough of Haringey**
Information Advice and Guidance
**766,871**
**-**
Connected Communities
Household Support Fund
**-**
**-**
**-**
**-**
**766,871**
**-**
**Big Lottery**
Advice Connect
**-**
**24,771**
Private Renting Sector
**-**
**-**
**-**
**24,771**
**Greater London Authority**
Greater London Authority
**-**
**44,430**
**We Are Digital**
Pound Advice
**16,456**
**-**
**Whittington NHS Trust**
NCIL Red Cell
**-**
**48,333**
**Bridge Renewal Trust**
Home From Hospital
**-**
**17,646**
Advice First Aid
**-**
**-**
**Citizens Advice**
Debt Relief Order
**-**
**-**
Energy Advice Programme
**-**
**-**
Cost of Living
**-**
**-**
Remote Service Delivery
**-**
**45,375**
**Total**
**783,327**
**180,555**||**Total**
**Funds**
**2025**
**£**
Total
Funds
2024
£
**-**
-
**Total**
**Funds**
**2025**
**£**
Total
Funds
2024
£
**5,215**
4,043
**Total**
**Funds**
**2025**
**£**
Total
Funds
2024
£
**766,871**
764,774
**-**
**-**
-
-|
||**766,871**
**-**
**-**
**24,771**
**-**
**-**|**766,871**
764,774
**24,771**
-
**-**
23,627|
||**-**
**24,771**
**-**
**44,430**
**16,456**
**-**
**-**
**48,333**
**-**
**17,646**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**45,375**|**24,771**
23,627
**44,430**
46,500
**16,456**
12,120
**48,333**
-
**17,646**
-
**-**
-
**-**
47
**-**
1,050
**-**
-
**45,375**
37,125|
||**783,327**
**180,555**|**963,882**
855,244|
In 2025, of the total income from charitable activities, £783,327 was unrestricted and £180,555 was restricted.
23
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **5. EXPENDITURE FROM CHARITABLE ACTIVITIES**
|London Communities
CITA- Cost of Living
We Are Digital
Private Renting Sector
Remote Service Delivery (CitA)
Advice Connect
General
Home From Hospital
NCIL Red Cell
Information Advice & Guidance (IAG)
**Total**|**Activities**
**Undertaken**
**Directly**
**2025**
**£**
**Support**
**Costs**
**2025**
**£**
**Total**
**Funds**
**2025**
**£**
Total
Funds
2024
£
**35,953**
**27,885**
**63,838**
62,103
**-**
**-**
**-**
20,356
**18,843**
**11,123**
**29,966**
10,255
**-**
**-**
**-**
23,627
**32,940**
**25,083**
**58,023**
54,744
**18,755**
**9,761**
**28,516**
-
**37,238**
**2,442**
**39,679**
36,186
**9,887**
**8,366**
**18,253**
-
**33,749**
**20,265**
**54,014**
-
**451,935**
**190,715**
**642,650**
610,572|
|---|---|
||**639,300**
**295,641**
**934,940**
817,843|
Total support costs of £295,641 (2024: £239,267) are analysed in Note 6.
## **6. ANALYSIS OF SUPPORT COSTS**
|**6. ANALYSIS OF SUPPORT COSTS**||
|---|---|
|Wages and salaries (including National Insurance and Pension)
Premises costs
Actual expenses
Staff & Volunteer
Governance costs
Other
**Total**|**2025**
**£**
2024
£
**184,359**
127,486
**45,530**
46,119
**48,159**
46,721
**5,161**
7,936
**11,848**
10,549
**582 **
456|
||**295,641**
239,267|
Total governance costs of £11,848 (2024: £10,549) are analysed in Note 7.
## **7. GOVERNANCE COSTS**
|Auditor's remuneration - audit of the financial statements
Auditor's remuneration - preparation of financial statements
Legal and professional
Other
**Total**|**2025**
**£**
2024
£
**8,616**
8,472
**2,099**
2,064
**34**
13
**1,100**
-|
|---|---|
||**11,848**
10,549|
24
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **8. NET INCOME / (EXPENDITURE) FOR THE YEAR**
|**8. NET INCOME / (EXPENDITURE) FOR THE YEAR**|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Depreciation of tangible fixed assets: owned by the charity|**3,220**|2,782|
|Auditors' remuneration – Audit of the financial statements (inclusive of VAT)|**8,616**|8,472|
|Auditors' remuneration – Preparation of financial statements (inclusive of|**2,099**|2,064|
|VAT)|||
In common with many other organisations of our size and nature we use our auditors to assist with the preparation of the financial statements.
## **9. KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES**
The Charity considers its key management personnel comprise;
The Trustees Chief Executive Head of Finance and Resource Head of Advice and Quality
The Trustees neither received nor waived any remuneration during the year (2024: £NIL).
The total amount of employee benefits received by other key management personnel is £161,066 (2024: £146,813).
The Trustees had £NIL expenses reimbursed during the year (2024: £NIL). No amounts were paid to Trustees to attend training courses (2024: £NIL).
## **10. STAFF COSTS AND EMPLOYEE BENEFITS**
|**10. STAFF COSTS AND EMPLOYEE BENEFITS**||
|---|---|
|Wages and salaries
Social security costs
Other pension costs
**Total**|**2025**
**£**
2024
£
**568,989**
463,315
**51,046**
45,623
**16,192**
13,747|
||**636,227**
522,685|
No staff costs or employee benefits were paid by related parties.
Aggregate number of full time equivalent staff whose remuneration exceeded £60,000 in the period:
|||**2025**|2024|
|---|---|---|---|
|£60,000|- £69,999|**1**|1|
|£70,000|- £79,999|**0**|0|
25
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **10. STAFF COSTS AND EMPLOYEE BENEFITS (CONTINUED)**
The average monthly number of persons employed by the Charity during the year was as follows:
|Generalist advice
Connected Communities
We Are Digital
CitA – Cost of Living
Support staff
CitA - RSD
NCIL – Red Cell
GLA
**Total**|**2025**
**No.**
2024
No.
**8**
9
**-**
-
**1**
-
**-**
1
**3**
2
**1**
1
**1**
-
**1**
1|
|---|---|
||**15**
14|
## **11. TANGIBLE FIXED ASSETS**
|**11. TANGIBLE FIXED ASSETS**|||
|---|---|---|
|**Costs**
At 1 April 2024
Additions
Disposals
**At 31 March 2025**
**Depreciation**
At 1 April 2024
Charge for the year
Disposals
**At 31 March 2025**
**Net book value**
**At 31 March 2025**
At 31 March 2024
**12. DEBTORS**
Trade debtors
Prepayments
**Total**|**Computer**
**Equipment**
**£**
596
-
-|**Other Fixed**
**Assets**
**£**
**Total**
**£**
18,568
19,164
9,062
9,062
(5,764)
(5,764)|
||**596**
198
198
-|**21,867**
**22,462**
13,134
13,332
3,502
3,700
(5,764)
(5,764)|
||**396**|**10,872**
**11,268**|
||**198**|**10,995**
**11,194**|
||||
||398|5,434
5,832|
|||**2025**
**£**
2024
£
**50,250**
42,746
**8,086**
3,186|
|||**58,337**
45,932|
26
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **13. INVESTMENTS**
|Market Value Bought Forward 31/03/2024
Addition During Year
Net Movement in Fund During Year
Market Value as at 31/03/2025|**2025**
**£**
2024
£
**-**
**-**
**1,100,000**
**-**|
|---|---|
||**1,100,000**
**-**
**19,643**
**-**|
||**1,119,643**
**-**|
## **Cartwrights Fund Balance & investment management cost breakdown**
||||**Estimated**|**Estimated**||||
|---|---|---|---|---|---|---|---|
|**Opening**|||**investment**|||**Closing**||
|**Balance at**|**1**||**management**||**Revaluation**|**Balance at**|**31**|
|**April 2024**||**Additions**|**costs**||**gain/(loss)**|**March 2025**||
||**£**|**£**||**£**|**£**||**£**|
|Parmenion Trading||||||||
|Account (Cash Account)|-|3,300||-|(2,574)|**726**||
|PCP126143 (BNY||||||||
|Sustainable Global||||||||
|Dynamic Bond Fund)|-|326,700||(1,000)|7,170|**332,870**||
|PCP126144 (L&G World||||||||
|ESG Developed Index||||||||
|Fund)|-|770,000||(1,100)|15,047|**783,947**||
|**Total**|-|**£1,100,000**||**(2,100)**|**19,643**|**1,117,543**||
|**14. CREDITORS: AMOUNTS FALLING DUE**|**WITHIN ONE YEAR**|||||||
||||||**2025**|
2024||
||||||**£**||£|
|Net obligations under finance leases and hire|purchase contracts (Note|||21)|**3,256**|
2,389||
|Other taxation and social security|||||**12,847**|
12,559||
|Other creditors|||||**87**||87|
|Trade Creditors|||||**6,646**||-|
|Accruals|||||**15,080**|8,353||
|**Total**|||||**37,915**|
23,388||
|**15. CREDITORS: AMOUNTS FALLING DUE**|**AFTER MORE**||**THAN ONE YEAR**|||||
||||||**2025**|2024||
||||||**£**||£|
|Net obligations under finance leases and hire|purchase contracts (Note|||21)|**3,256**|2,857||
|Obligations under finance leases and hire purchase contracts,|||included|above, are payable as follows:||||
|In one year or more but less than two years|||||**4,878**||468|
|In two years or more and less than five years|||||**-**||-|
|In five years or more|||||**-**||-|
|**Total**|||||**4,878**||468|
27
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
|**16. FUND RECONCILIATION**|||||||
|---|---|---|---|---|---|---|
||**Balance at**|**Income**|**Expenditure**|**Transfers In /**|**Gain /**|**Balance at 31**|
||**1 April**|**£**|**£**|**Out**|**Losses £**|**March 2025**|
||**2024**|||**£**||**£**|
||**£**||||||
|**Revaluation Reserves**|**-**|**-**|**-**|**-**|**19,643**|**19,643**|
|**Unrestricted Funds**|||||||
|General funds|1,235,817|799,779|(712,296)|(42,089)|**-**|**1,281,211**|
|Designated funds|60,000|-|-|-|**-**|**60,000**|
||**1,295,817**|**799,779**|**(712,296)**|**(42,089)**|**-**|**1,341,211**|
|**Restricted Funds**|||||||
|Advice Connect|-|24,771|(28,515)|3,744|**-**|**-**|
|CitA – Remote Service|||||||
|Delivery|-|45,375|(58,023)|12,648|**-**|**-**|
|Greater London Authority|-|44,430|(63,838)|19,408|**-**|**-**|
|Home From Hospital|-|17,646|(18,253)|607|**-**|**-**|
|NCIL Red Cell|-|48,333|(54,014)|5,681|**-**|**-**|
||**-**|**180,555**|**(222,644)**|**42,089**|**-**|**-**|
|**Total Funds**|**1,295,817**|**980,334**|**(934,940)**|**-**|**19,643**|**1,360,854**|
The restricted funds are for the following purposes:
- Greater London Authority is a project to provide advice to support crisis prevention in the cost-of-living crisis.
- ● Advice Connect is a Big Lottery funded project working in partnership with Pro Bono Communities, to train law students to provide telephone advice to clients with issues relating to renting homes from private sector landlords.
- CitA Remote Service Delivery provided funding is to enable the additional remote delivery of advice to more clients via phone, chat, email and/or video.
- NCL Red Cell project is funded by Whittington NHS Trust to provide a generalist adviser focus on welfare and benefit to sickle cell and thalassemia patients and their families.
- Home from Hospital is a Haringey Council funded project, working in partnership with Bridge Renewal Trust to provide information and referral to advice services for patients transition from hospital back to home.
28
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **17. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Tangible Fixed Assets
Non-current assets
Current Assets
Creditors due within one year
Creditors due in more than one year
**Total**|**Unrestricted**
**Funds**
**2025**
**£**
**Restricted**
**Funds**
**2025**
**£**
**Total**
**Funds**
**2025**
**£**
Total
Funds
2024
£
**11,195**
**-**
**11,195**
5,832
**1,117,543**
**-**
**1,117,543**
-
**274,910**
**-**
**274,910**
1,313,841
**(37,915)**
**-**
**(37,915)**
(23,288)
**(4,879)**
**-**
**(4,879)**
(468)|
|---|---|
||**1,360,854**
**-**
**1,360,854**
1,295,817|
## **18. OPERATING LEASES**
At 31 March 2025 the total of the Charity's future minimum lease payments under non-cancellable operating leases for land and buildings are as follows:
|**Amounts payable:**
Within 1 year
Between 1 and 5 years
**Total**|**2025**
**£**
2024
£
**18,000**
18,000
**-**
-|
|---|---|
||**18,000**
18,000|
## **19. RELATED PARTY TRANSACTIONS**
During the year, the CAH paid £450 (2024: NIL), to the spouse of the Chief Executive Officer, for note-taking services provided at Trustee board and subcommittee meetings. The transaction falls within the scope of Section 9 Charities SORP (Disclosure of Related Party Transactions), as the individual is an immediate family member of key management personnel. The transaction was conducted on an arm’s length basis, and the amount paid was considered reasonable for the services rendered. There were no outstanding balances owed to or from the related party at the reporting date.
## **20. FINANCIAL INSTRUMENTS**
At the balance sheet date the Charity held the following:
|**Financial assets**
**Financial assets measured at cost:**
Cash at bank and in hand
**Financial assets measured at amortised cost:**
Other debtors
Trade debtors|**2025**
**£**
2024
£
**216,573**
1,267,909
**-**
-
**50,250**
42,746|
|---|---|
||**266,823**
1,310,655|
29
## **HARINGEY CITIZENS ADVICE BUREAUX**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **Financial liabilities**
|**Financial liabilities measured at amortised cost:**
Trade creditors
Other creditors
Other taxation and social security
Obligations under finance leases|**6,646**
-
**87**
87
**12,847**
12,559
**8,134**
2,857|
|---|---|
||**27,714**
15,503|
## **21. OBLIGATIONS UNDER FINANCE LEASES**
|In less than one year
In one year or more but less than two years
In two years or more and less than five years
In five years or more
**Total**|**2025**
**£**
2024
£
**3,256**
2,389
**4,879**
468
**-**
-
**-**
-|
|---|---|
||**8,134**
2,857|
The obligations under finance leases are repayable by equal instalments. Finance leases relate to a photocopier and franking machine. The lease agreements do not include any contingent rent or restrictions.
## **22. TAXATION**
By virtue of s. 478 Corporation Tax Act 2010, the Charity is exempt from Corporation Tax.
## **23. CAPITAL COMMITMENTS**
The Charity had no capital commitments as at 31 March 2025 (2024: Nil).
## **24. ANALYSIS OF CHANGES IN NET DEBT**
Analysis of changes in net debt:
||**At 1 April**|**Cash**|**Non-Cash**|**At 31 March**|
|---|---|---|---|---|
||**2024**|**Flows**|**Movements**|**2025**|
||**£**||**£**|**£**|
|||**£**|||
|Cash and Cash Equivalents|1,267,909|(1,051,336)|-|216,573|
|Loans Due in One Year|-|-|-|-|
|Loans Due After One Year|-|-|-|-|
||______|______|______|______|
||1,267,909|(1,051,336)|-|216,573|
||______|______|______|______|
30