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2021-03-31-accounts

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COMPANY REGISTRATION NUMBER: 03507093 CHARITY REGISTRATION NUMBER: 1070263

Southwark Citizens Advice Bureaux Service Company Limited by Guarantee Financial Statements

31 March 2021

DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2021

Page
Trustees' annual report (incorporating the director's report) 1
Independent auditor's report to the members 10
Statement of financial activities (including income and expenditure account) 14
Statement of financial position 15
Statement of cash flows 16
Notes to the financial statements 17

DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2021

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2021.

Reference and administrative details

Registered charity name Southwark Citizens Advice Bureaux Service Southwark Citizens Advice Bureaux Service
Charity registration number 1070263
Company registration number 03507093
Principal office and registered 8 Market Place
office Southwark Park Road
Bermondsey
London
SE16 3UQ
The trustees
Nehal Depani
Elizabeth Laurence (Retired 10 February 2021)
Tasmin Maitland
Patricia Boyer
Martina O'Sullivan
Aleksandr Al-Dhahir
Thomas Smith (Appointed 26 August 2020)
Company secretary Christopher Green
Auditor Menzies LLP
Centrum House
36 Station Road
Egham
Surrey
TW20 9LF
Bankers Lloyds Bank plc
CAF Bank Limited

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2021

Structure, governance and management

Governing Document

Southwark Citizens Advice Bureaux Service is a registered charity and a company limited by guarantee. Southwark Citizens Advice Bureaux Service is also known and referred to as Citizens Advice Southwark and Bermondsey Citizens Advice Bureau and Peckham Citizens Advice Bureau. The maximum liability of each member is limited to one pound. At 31 March 2021 the company had 6 members. Southwark Citizens Advice Bureaux Service is governed by its Memorandum and Articles of Association as amended on 18 May 2010.

Southwark Citizens Advice Bureaux Service was incorporated as a company limited by guarantee on 9 February 1998. The charity commenced operations on 1 April 1998 at which date the assets and liabilities of the unincorporated Southwark Citizens Advice Bureau Service were acquired.

Recruitment, Appointment of Trustees

An Elections Committee, chaired by the Chair, is established to oversee the elections process for Board appointments. A separate process agreed by the Trustee Board is followed for the election of the Chair. No other persons or bodies external to the charity were entitled to appoint persons to the Trustee Board.

Induction of Trustees

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

Organisational Structure

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

Connected Parties

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

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

Contribution of Volunteers

The charity receives help and support in the form of voluntary assistance in advising the public and administering the charity.

77 volunteers, including 15 pro bono solicitors, contributed approximately 36,720 hours of work to the bureau during the year. We estimate the value of this help at £651,646 in respect of the current year.

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Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Objectives and activities

Objects, Vision and Mission

Our charity's objects as contained in the company's memorandum of association are: "to promote any charitable purpose for the public benefit by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress in particular, but without limitation, for the benefit of the community in the London Borough of Southwark and surrounding areas".

Our vision is of a society where everyone can express and realise their rights, where responsibilities are understood and acted on by individuals and organisations, where decisions are taken with the needs of the most vulnerable in our society in mind, and where services are accessible and responsive to those who need them.

We recognise that we need to identify concrete steps to take in achieving our vision, so are working towards the mission statement that: we sort out problems together - for good. We do this by:

Ensuring our work delivers our aims

We review our mission, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our mission, objectives and activities remain focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our mission and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the vision, mission and objectives they have set.

The focus of our work

The Citizens Advice service provides free, independent, confidential and impartial advice to everyone on their rights and responsibilities. It values diversity, promotes equality and challenges discrimination.

Who used and benefited from our services

The Citizens Advice Southwark team records profile information provided by clients on our dedicated case management system. This includes data on gender, age/date of birth, ethnic group and disability. In addition, the Service conducts an annual survey of clients designed to provide more information about the users of our Service.

COVID-19 and the accompanying need to deliver services remotely during periods of national lockdown had some impact on the profile of clients accessing our services this year. Notwithstanding this, the client profile still reflects the full diversity of the borough we serve, though with higher levels of clients from groups who are more likely to experience discrimination, or affected by issues related to deprivation.

There has been a slight increase in the percentage of younger people seeking advice (28.3% of people under 34 compared with 25.2% last year), and a slight decrease in the over 50 categories (37.8% this year compared with 40.8% last year). However, this is still older than the population profile of the borough, with almost a quarter of local residents being 19 and under.

We have seen a significant increase in the already high proportion of clients who are council tenants (44% up from 36% last year), and a decrease in owner-occupiers (from 10% to 7%). Where stated, 39% of our clients are in receipt of welfare benefits or tax credits. Again, this is higher than the borough profile, but reflects the complexity of the benefits system (being in our top three advice enquiry areas) and the high incidence of problems amongst people in receipt of benefits.

A far higher proportion of clients are from Black, Asian and Minority Ethnic (BAME) communities (at 83.2% - up

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Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

from 75.1% - compared to the borough profile of 60.3%), which not only demonstrates our reach into all communities in the borough, but also the higher prevalence of problems amongst BAME communities (who are statistically more likely to be negatively impacted by recession or wider economic uncertainty).

Finally, whilst sexual orientation was not accurately recorded in the 2011 census, we believe that, historically, our reach into the borough’s LGBT community is strong. However, perhaps due to the very high number of clients did not complete this section (92% of respondents over the past 12 months) it is difficult to provide robust evidence of this. This year 7% of our clients identified as lesbian, gay or bisexual up from 4% last year. We will continue to monitor this data and our service delivery model generally, to ensure it is appropriately marketed - and available to - the LGBT community.

The Trustees confirm they have complied with section 17 of the Charities Act 2011 and referred to the guidance contained in the Charity Commission's general guidance on public benefit, specifically when reviewing the Trust's aims and objectives and in planning future activities.

Achievements and performance

Charitable Activities

Citizens Advice Southwark is a successful organisation delivering high quality services in response to the needs of the local community. Recent achievements included:

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Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Activities

The COVID-19 pandemic has had a huge impact on everything we do. For 4 months during the first national lockdown - from March to July 2020 - we were obliged to suspend our face to face services and close our offices to the general public.

To continue to provide a service our staff worked from home to answer calls, web chats and emails. During this period people continued to turn to us for help, and we provided daily advice and information on issues related to the Coronavirus outbreak, including everything from redundancies and difficulties paying bills to starting benefits claims.

In addition, we introduced regular electronic information briefings on key issues for local agencies and their service users that were distributed widely through our mailing lists, and those of the council. We also took the lead in devising regular briefings from the advice sector as a whole updating people on how they could access advice services during lockdown.

Although we were able to successfully help many vulnerable local people remotely during lockdown, our data indicated that certain potentially vulnerable groups, including people with disabilities, long term health conditions, from some BAME communities, and older people, were not accessing our services in the usual proportions. A top priority for us was therefore keen to resume ‘in person’ services as soon as it was safe to do so.

So in July 2020, and almost uniquely within the Citizens Advice movement, we reopened face to face drop in at our 3 offices, whilst also maintaining our remotely delivered services. Although the resumption of our face-to-face services offered an important alternative means of access to vulnerable local people, in order to take into account the very real anxieties over transmission of the virus, the drop in model was adjusted so that advisers and clients were not physically present in the same interview room. Instead, clients were linked by video to advisers in another room (or office) to receive ‘face to face’ advice. We also expanded our opening hours to avoid queues forming in the mornings.

We followed the same pattern with the second and third national lockdowns, moving to phone, email and web chat during the lockdown, but reopening our drop in sessions as soon as it was possible to do so. Using this proactive approach, we were successfully able to continue to provide vital advice and information to local residents through this most difficult period.

In 2020-21 Citizens Advice Southwark dealt with 45,607 new issues (a 17% decrease from the 55,274 handled in 2019-20), which came from 20,025 clients seen across the service (a small decrease of 7% increase from the 21,493 assisted in 2019-20).

These decreases were from the record high figures achieved the previous year and were to be expected given the challenges outlined above.

Of the new issues welfare benefits, housing and debt remained the top three categories of issues in the borough, at 39%, 17% and 9% of the total enquiries respectively. The number of enquiries relating to Universal Credit increased considerably as many people lost their jobs as a result of the pandemic and sought to claim the new benefit.

However, the challenges faced as a result of the pandemic did not impact on our ability to achieve positive change for clients through delivering a quality service, and the financial gain to our clients in 2020-21 was £7,452,419 across all services (an increase of 2% from the 2019-20 financial gain of £7,278,868).

Of course the pandemic also greatly affected our clients. In particular, the economic impact has been felt most acutely by local residents who were already vulnerable, perhaps as a result of physical or mental ill health, homelessness, or because they are living in poverty, have insecure immigration status, or as a result of sharing protected characteristics under equalities legislation, for example age, disability, race or religion and belief.

It has therefore been incumbent on us to develop new projects and partnerships that target some of these worst

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Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

affected groups and communities.

To support our service delivery during the pandemic an entirely new Service Delivery Plan was developed which allows us to transition out of the COVID-19 world of restrictions, and to best meet the advice needs and inequalities that have been exacerbated by the pandemic.

The section below describes the service that Citizens Advice Southwark is currently providing:

(a) Generalist Advice Services - at Peckham, Bermondsey and Walworth offices (funded by a contract with Southwark Council)

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Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Financial review

Our financial position is shown in detail on the pages following of these financial statements however some salient figures are as follows:

Incoming resources in the year were £1,802,146 (2020 - £1,938,243) of this £1,017,471 related to restricted activities.

Expenditure for the year was £1,801,868 (2020 - £1,745,499) of which £1,311,522 (2020 - £1,348,500) related to salaries, national insurance & pensions. This continues to represent the most significant cost to the Bureaux at 73% (2020 - 77%) of total expenditure.

There was a net surplus for the year of £278 (2020 - £192,744) of which none were restricted (2020 - £10,000). At 31 March 2021 total reserves were £1,221,780 (2020 - £1,221,502) all of which all represented unrestricted funds.

Reserves Policy

Southwark Citizens Advice Bureaux Service ensures that free monies are available in each financial year to meet any reasonable foreseeable contingency. In these uncertain times the trustee board consider it desirable to maintain unrestricted funds not committed or invested in tangible fixed assets ("the free reserves") at a level of approximately six months working capital expenditure. This is to ensure that in the event of unexpected financial or service problems activities can be managed effectively so as to minimise disruption to service users and to enable

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Southwark Citizens Advice Bureaux Service to meet its employment obligations to staff. The unrestricted reserves at the end of the year, all which are free, of £1,221,780, are in line with this policy.

Principal Funding Sources

We have diverse funding streams as detailed in note 6 of the accounts.

Investment Policy

As required in its Memorandum, paragraph (k), in furtherance of its objects, and for no other purposes, the Company has the power to invest the monies of the Company not immediately required for its purposes in or upon such investments, securities or property as may be thought fit, subject nevertheless to such conditions and such consents as may for the time being be imposed or required by law.

The charity did not have any borrowings from either providers of funding or other sources at the balance sheet date.

The charity does not currently hold material investments.

Financial Factors Affecting the Achievement of Objectives

The charity is very aware of the financial pressures experienced by its major hinders, and in view of this has taken active measures to seek additional sources of funding for its services and is timely in taking corrective action to deal with any individual activity performance problems.

Plans for future periods

To achieve our vision for the Service we have identified six key objectives for the three year period 2021-2024. These are to:

Our objectives have been designed to meet the needs of the local community, as well as supporting the achievement of the national Citizens Advice strategic aims, which are that we will:

Trustees' responsibilities statement

The trustees, who are also directors 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 charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources,

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Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

including the income and expenditure, for that period.

In preparing these financial statements, the trustees are required to:

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

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 25 August 2021 and signed on behalf of the board of trustees by:

Martina O'Sullivan Trustee

Aleksandr Al-Dhahir Trustee

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Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Independent Auditor's Report to the Members of Southwark Citizens Advice Bureaux Service

Year ended 31 March 2021

Opinion

We have audited the financial statements of Southwark Citizens Advice Bureaux Service (the 'charity') for the year ended 31 March 2021 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the 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 annual report, other than the financial statements and our auditor’s report thereon. The trustees 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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Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Independent Auditor's Report to the Members of Southwark Citizens Advice Bureaux Service (continued)

Year ended 31 March 2021

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as 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 charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Independent Auditor's Report to the Members of Southwark Citizens Advice Bureaux Service (continued)

Year ended 31 March 2021

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The charitable company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant:

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. We understood how the Company is complying with those legal and regulatory frameworks by, making inquiries to management, those responsible for legal and compliance procedures and the company secretary.

The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.

We assessed the susceptibility of the Company financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Independent Auditor's Report to the Members of Southwark Citizens Advice Bureaux Service (continued)

Year ended 31 March 2021

of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

Janice Matthews FCA (Senior Statutory Auditor) For and on behalf of Menzies LLP Chartered Accountants & Statutory Auditor Centrum House 36 Station Road Egham Surrey TW20 9LF

Date: 04-Nov-2021

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2021

2021 2020
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 5 1,033 – 1,033 3,309
Charitable activities 6 782,986 1,017,471 1,800,457 1,933,048
Investment income 7 656 – 656 1,886
----------------------------- ------------------------------------- ------------------------------------- -------------------------------------
Total income 784,675 1,017,471 1,802,146 1,938,243
============================= ===================================== ===================================== =====================================
Expenditure
Expenditure on charitable activities 8,9 784,397 1,017,471 1,801,868 1,745,499
----------------------------- ------------------------------------- ------------------------------------- -------------------------------------
Total expenditure 784,397 1,017,471 1,801,868 1,745,499
============================= ===================================== ===================================== =====================================
----------------------------- ------------------------------------- ------------------------------------- -------------------------------------
Net income and net movement in funds 278 – 278 192,744
============================= ===================================== ===================================== =====================================
Reconciliation of funds
Total funds brought forward 1,221,502 – 1,221,502 1,028,758
------------------------------------- ------------------------------------- ------------------------------------- -------------------------------------
Total funds carried forward 1,221,780 – 1,221,780 1,221,502
===================================== ===================================== ===================================== =====================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Statement of Financial Position

31 March 2021

2021 2020
Note £ £ £
Fixed assets
Tangible fixed assets 14 3,750 7,500
Current assets
Debtors 15 220,155 255,729
Cash at bank and in hand 1,458,351 1,364,913
------------------------------------- -------------------------------------
1,678,506 1,620,642
Creditors:amounts falling due within one year 16 336,693 205,045
------------------------------------- -------------------------------------
Net current assets 1,341,813 1,415,597
------------------------------------- -------------------------------------
Total assets less current liabilities 1,345,563 1,423,097
Provisions
Pensions and similar obligations 17 123,783 201,595
------------------------------------- -------------------------------------
Net assets 1,221,780 1,221,502
===================================== =====================================
Funds of the charity
Unrestricted funds 1,221,780 1,221,502
------------------------------------- -------------------------------------
Total charity funds 19 1,221,780 1,221,502
===================================== =====================================

These financial statements were approved by the board of trustees and authorised for issue on 25 August 2021, and are signed on behalf of the board by:

Martina O'Sullivan Aleksandr Al-Dhahir Trustee Trustee

The Financial Statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with FRS102.

Under Companies Act 2006, s454, on a voluntary basis, the trustees can amend these financial statements if they subsequently prove to be defective.

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2021

2021 2020
£ £
Cash flows from operating activities
Net income 278 192,744
Adjustments for:
Depreciation of tangible fixed assets 3,750 3,750
Other interest receivable and similar income (656) (1,886)
Accrued expenses/(income) 82,941 (17,679)
Changes in:
Trade and other debtors 35,574 (74,250)
Trade and other creditors 48,707 23,721
Provisions and employee benefits (77,812) (5,572)
------------------------- -----------------------------
Cash generated from operations 92,782 120,828
Interest received 656 1,886
------------------------- -----------------------------
Net cash from operating activities 93,438 122,714
========================= =============================
Cash flows from investing activities
Purchase of tangible assets – (11,250)
------------------------- -----------------------------
Net cash used in investing activities – (11,250)
========================= =============================
Net increase in cash and cash equivalents 93,438 111,464
Cash and cash equivalents at beginning of year 1,364,913 1,253,449
------------------------------------- -------------------------------------
Cash and cash equivalents at end of year 1,458,351 1,364,913
===================================== =====================================

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 8 Market Place, Southwark Park Road, Bermondsey, London, SW16 3UQ.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Fixed assets capitalisation

Tangible fixed assets are stated at cost or valuation less depreciation. Fixed assets costing more than £1,000 are capitalised where they are not replacements of assets previously capitalised.

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

Pensions

The company operates a defined contribution scheme. It is a funded scheme and the assets are held externally of the company. The company contributes 5.1% of gross pay to the scheme for anyone who transferred from the previous scheme and for any employee who has joined since the closure of the previous scheme the company contributes up to 10% of gross pay. Pension contribution percentage was increased as at 1[st] June 2019. Previously the company operated a defined benefit pension scheme. It was closed at 31 March 2008. The company is making annual contributions to the closed scheme, see note 16.

Going concern

There are no material uncertainties about the charity's ability to continue. The Covid 19 Pandemic has not had a material impact on Southwark Citizens Advice funding. Hospital based projects such as Major Trauma and Limb Reconstruction provided a reduced service for the year 2020/21, but does not have a material effect on the overall funding.

With the use of unrestricted funds and grants received, the bureau has adapted to government social distancing measures. Employees and volunteers are able to work from home as well as using any of the 3 offices to ensure we continue to deliver our services during the pandemic within Southwark.

We do not anticipate any difficulties to meet our working capital commitments over the next 12 months due to healthy level of Free Reserves and Cash in Bank.

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

Judgements and key sources of estimation uncertainty

Southwark Citizen Advice Bureaux Service has worked on a Corporate Risk Management exercise. A risk management strategy and risk register were agreed by the Trustee Board. The Trustees recognise that any major risks to which the charity is exposed need to be reviewed and systems put in place to mitigate those risks. To that end Southwark Citizen Advice Bureaux Service is continually monitoring and managing its risk, reviewing the corporate risk register and ensuring action plans are in place to mitigate its key risks.

Included in external risks is that of the loss of funding. The effects of this have been reduced by the procedures in place, which have resulted in funding being secured from a variety of sources. The charity continues to seek to diversify its funding sources. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

The trustee board has approved a new information assurance strategy, having identified the risk presented by the significant amounts of client data held in the bureau. An information assurance management team exists to ensure the confidentiality, integrity and availability of all our sensitive data assets is maintained to a level which is consistent with the requirements of our clients, our funders and our strategic partners. The bureau aims to achieve an appropriate level of compliance to the Data Protection Act, the Cabinet Office's Security Policy Framework and to industry best practice, as defined by the ISO 27000 series of standards.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are income received for restricted purposes and projects. These funds are subjected to restrictions on their expenditure declared by the funder.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Computers & other electronic - 33% straight line equipment

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, currently all our tangible fixed assets have been written off and whilst the resale value of the assets is negligible the cost to replace from new would be in line with the gross value shown in our tangible fixed asset note.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in income or expenditure unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in the statement of financial activities in the period it arises, and is allocated to the appropriate expenditure heading.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Limited by guarantee

Southwark Citizens Advice Service is a company limited by guarantee and accordingly does not have a share capital.

Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or he is a member.

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

5. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Donations
General Donations 1,033 1,033 3,309 3,309
===================== ===================== ===================== =====================
Charitable activities
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
London Borough of Southwark 763,713 29,899 793,612
Toynbee Hall – 288,207 288,207
The Big Lottery Fund – 97,500 97,500
Citizens Advice 8,143 262,836 270,979
MacMillan Cancer Support – 85,951 85,951
Dimbleby Cancer Care & Palliative Care – 83,868 83,868
Trust for London – – –
Thames Water Trust Fund – 7,000 7,000
David Family Foundation – 5,000 5,000
WPI Economics – 5,000 5,000
HMRC – Furlough 4,801 – 4,801
Guys & St Thomas' Trust – 6,720 6,720
Kings College Hospital (Limb Construction) – 2,975 2,975
London & Quadrant Housing Trust 5,329 – 5,329
Legal Aid Contract – 79,127 79,127
Cardinal Management Ltd - Major Trauma Centre – 25,910 25,910
Universal Credit Migration – 27,478 27,478
St George the Martyr Charity – 10,000 10,000
CAML & Windrush 1,000 – 1,000
Other Income from Charitable Activities – – –
----------------------------- ------------------------------------- -------------------------------------
782,986 1,017,471 1,800,457
============================= ===================================== =====================================

6. Charitable activities

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
London Borough of Southwark 925,997 22,400 948,397
Toynbee Hall – 371,836 371,836
The Big Lottery Fund – – –
Citizens Advice – 244,556 244,556
MacMillan Cancer Support – 85,950 85,950
Dimbleby Cancer Care & Palliative Care – 83,868 83,868
Trust for London – 25,000 25,000
Thames Water Trust Fund – 28,000 28,000
David Family Foundation – – –
WPI Economics – – –
HMRC – Furlough – – –
Guys & St Thomas' Trust – – –
Kings College Hospital (Limb Construction) – 5,500 5,500
London & Quadrant Housing Trust 1,969 – 1,969
Legal Aid Contract – 77,517 77,517
Cardinal Management Ltd - Major Trauma Centre – 47,840 47,840
Universal Credit Migration – 10,000 10,000
St George the Martyr Charity – – –
CAML & Windrush – – –
Other Income from Charitable Activities 2,615 – 2,615
----------------------------- ------------------------------------- -------------------------------------
930,581 1,002,467 1,933,048
============================= ===================================== =====================================
7. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Bank interest receivable 656 656 1,886 1,886
============ ============ ===================== =====================
8. Expenditure on charitable activities by fund type
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Charitable Activities 503,418 843,511 1,346,929
Support costs 280,979 173,960 454,939
----------------------------- ------------------------------------- -------------------------------------
784,397 1,017,471 1,801,868
============================= ===================================== =====================================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Charitable Activities 593,843 683,657 1,277,500
Support costs 139,189 328,810 467,999
----------------------------- ------------------------------------- -------------------------------------
733,032 1,012,467 1,745,499
============================= ===================================== =====================================

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

9. Expenditure on charitable activities by activity type

Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Staff costs 482,199 716,120 1,198,319
Training 988 3,040 4,028
Office costs 20,231 124,351 144,582
----------------------------- ----------------------------- -------------------------------------
503,418 843,511 1,346,929
============================= ============================= =====================================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Staff costs 559,422 619,516 1,178,938
Training 2,456 7,265 9,721
Office Costs 31,965 56,876 88,841
----------------------------- ----------------------------- -------------------------------------
593,843 683,657 1,277,500
============================= ============================= =====================================

10. Analysis of support costs

Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Staff costs 68,879 44,324 113,203
Premises 54,803 35,266 90,069
Legal & Professional 66,836 43,010 109,846
Office costs 79,811 51,360 131,171
Depreciation 3,750 – 3,750
Governance 6,900 – 6,900
----------------------------- ----------------------------- -----------------------------
280,979 173,960 454,939
============================= ============================= =============================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Staff costs 48,292 121,270 169,562
Premises 24,839 62,374 87,213
Legal & Professional 7,687 19,303 26,990
Office costs 50,121 125,863 175,984
Depreciation 3,750 – 3,750
Governance 4,500 – 4,500
----------------------------- ----------------------------- -----------------------------
139,189 328,810 467,999
============================= ============================= =============================
Auditors remuneration
2021 2020
£ £
Fees payable for the audit of the financial statements 6,900 4,500
===================== =====================

11. Auditors remuneration

Fees payable for the audit of the financial statements

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

12. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2021 2020
£ £
Wages and salaries 1,198,808 1,179,354
Social security costs 110,368 95,224
Employer contributions to pension plans 2,346 73,922
------------------------------------- -------------------------------------
1,311,522 1,348,500
===================================== =====================================
The average head count of employees during the year was 42 (2020: 48). The average number of full-time The average head count of employees during the year was 42 (2020: 48). The average number of full-time The average head count of employees during the year was 42 (2020: 48). The average number of full-time
equivalent employees during the year is analysed as follows:
2021 2020
No. No.
Number of full time equivalent staff 48 36
============ ============
The number of employees whose remuneration for the year fell within the following bands, were:
2021 2020
No. No.
£60,000 to £69,999 0 0
============ ============

13. Trustee remuneration and expenses

No members of the Management Committee received any remuneration during the year.

Reimbursed travel costs incurred by the members of the management committee were £0 (2020 - £71).

14. Tangible fixed assets

Equipment Total
£ £
Cost
At 1 April 2020 and 31 March 2021 91,626 91,626
========================= =========================
Depreciation
At 1 April 2020 84,126 84,126
Charge for the year 3,750 3,750
------------------------- -------------------------
At 31 March 2021 87,876 87,876
========================= =========================
Carrying amount
At 31 March 2021 3,750 3,750
========================= =========================
At 31 March 2020 7,500 7,500
========================= =========================

- 24 -

DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

15. Debtors

2021 2020
£ £
Prepayments and accrued income 3,764 12,497
Grants in arrears 132,077 159,419
Other debtors 84,314 83,813
----------------------------- -----------------------------
220,155 255,729
============================= =============================
Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 86,442 32,947
Accruals and deferred income 109,983 27,042
Social security and other taxes 94,168 100,607
Deferred income 35,986 21,412
Other creditors 10,114 23,037
----------------------------- -----------------------------
336,693 205,045
============================= =============================

16. Creditors: amounts falling due within one year

17. Provisions

Pensions and
similar
obligations
£
At 1 April 2020 201,595
Charge against provision (77,812)
-----------------------------
At 31 March 2021 123,783
=============================

18. Pensions and other post-retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,346 (2020: £73,922).

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DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

Southwark Citizens Advice Bureau Service participated in the National Association of Citizens Advice Bureaux Pension and Assurance Plan (1991) which was a defined benefit scheme. It operated in the UK and provided both pensions in retirement and death benefits to members. Pension benefits are related to the members' final salaries at retirement and their length of service at the date they retired or left pensionable service. The Plan closed to future accrual on 31 March 2008.

More than one employer participated in the scheme and Southwark Citizens Advice Bureau Service is unable to identify its share of the underlying assets and liabilities in the scheme. This defined benefit scheme being accounted for as a defined contribution scheme as the assets of the defined benefit scheme are not clearly identifiable and cannot be accounted for separately.

In accordance with the schedule of contributions in force over the 2021/22 accounting year, the contributions to the Plan for the year ending 31 March 2022 are expected to be £2,579,000, which includes £2,279,000 towards the deficit and £300,000 as an allowance for administration expenses and all scheme levies.

The Plan is a registered scheme under UK legislation. The Plan is subject to the scheme funding requirements outlined in UK legislation. The Plan is governed by the Plan's Trust Deed and Rules dated 4 April 2011. The Trustee is responsible for the operation and the governance of the Plan, including making decisions regarding the Plan's funding investment strategy (although they are required to consult the Principal Employer).

A full actuarial valuation of the Plan was carried out as at 31 March 2021 by a qualified independent actuary, based upon membership data as at 31 March 2019, allowing for assumed membership movements over the period from this date, as well as any actual transfers out or trivial commutations over the period.

The most recent formal actuarial valuation of the Plan was as at 31 March 2019 and revealed a funding deficit of £68,501,000. In the recovery plan agreed following the valuation, the Principal Employer and other participating employers agreed to pay deficit reduction contributions of £2,279,000 per annum with the view to eliminating the deficit by 31 March 2037.

The liabilities of the Plan are based on the current value of expected benefit payment cash flows to members of the Plan over the next 60 or more years. The average duration of the liabilities is approximately 16 years.

The Plan is exposed to actuarial risks such as market (investment) risk, interest rate risk, inflation risk, currency risk and longevity risk.

The closed scheme has current and future pensioners. The employers will continue to make contributions to the scheme in future periods. The best estimate of contributions to be paid by Southwark Citizens Advice Bureau Service to the scheme for the period beginning on or after 1 April 2021 is £9,000 per annum.

In the year ended 31 March 2021 as recommended by FS102 the trustees decide to bring the Southwark Citizens Advise provision in line with the suggested provision calculation provided by National. Reducing the time taken to repay their proportion of the deficit from 50 years to 16 years. £77,812 was released back into the accounts reducing the provision from £201,595 to £123,783.

- 26 -

DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

19. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At
31 March 202
At 1 April 2020 Income Expenditure 1
£ £ £ £
General funds 1,221,502 784,675 (784,397)
1,221,780
===================================== ============================= ============================= =====================================
At
At 1 April 2019 Income Expenditure 31 March 2020
£ £ £ £
General funds 1,018,758 935,776 (733,032)
1,221,502
===================================== ============================= ============================= =====================================
Restricted funds
At
31 March 202
At 1 April 2020 Income Expenditure 1
£ £ £ £
Debt Free London Money Advice – 288,207 (288,207)
–
Macmillan & Dimbleby Welfare Benefits
Advice – 169,819 (169,819)
–
Forum for Equality & Human Rights – 22,400 (22,400)
–
Trust for London – – – –
Energy Advice – 11,140 (11,140)
–
Thames Water Trust – 7,000 (7,000)
–
Cardinal Management - Major Trauma
Centre – 25,909 (25,909)
–
Universal Credit Migration – 15,000 (15,000)
–
Universal Credit Support – 181,208 (181,208)
–
Kings College - Limb Reconstruction – 2,975 (2,975)
–
Covid 19 Funding Grants – 32,818 (32,818)
–
The Big Lottery Fund – 97,500 (97,500)
–
Advice Line – 28,000 (28,000)
–
St George the Martyr Charity – 10,000 (10,000)
–
Guys & St Thomas' Trust – 6,720 (6,720)
–
Universal Support Best Practice Lead – 39,648 (39,648)
–
Legal Aid Contract – 79,127 (79,127)
–
------------ ------------------------------------- ------------------------------------- ------------
– 1,017,471 (1,017,471)
–
============ ===================================== ===================================== ============
At
At 1 April 2019 Income Expenditure 31 March 2020
£ £ £ £
Debt Free London Money Advice – 371,836 (371,836)
–
Macmillan & Dimbleby Welfare Benefits
Advice – 169,818 (169,818)
–
Forum for Equality & Human Rights – 22,400 (22,400)
–
Trust for London – 25,000 (25,000)
–
Energy Advice 10,000 30,993 (40,993)
–

Restricted funds

- 27 -

DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

Thames Water Trust – 28,000 (28,000) –
Cardinal Management - Major Trauma
Centre – 47,840 (47,840) –
Universal Credit Migration – 174,563 (174,563) –
Kings College - Limb Reconstruction – 5,500 (5,500) –
Legal Aid – Housing – – – –
Legal Aid – Immigration – – – –
Pension Wise – – – –
The Money Advice Service - What Works – – – –
Restricted fund 27 - desc in a/cs – – – –
Universal Support Project – 10,000 (10,000) –
Universal Support Best Practice Lead – 39,000 (39,000) –
Legal Aid Contract – 77,517 (77,517) –
------------------------- ------------------------------------- ------------------------------------- ------------
10,000 1,002,467 (1,012,467) –
========================= ===================================== ===================================== ============

Debt Free London Money Advice Project - Restricted fund provided by Toynbee Hall through the Money Advice Service for the provision of face-to-face money advice.

Macmillan & Dimbleby Welfare Benefits Advice Project - Restricted fund provided by Macmillan Cancer Support and Dimbleby Cancer Care to provide welfare benefits advice for people affected by cancer at hospitals across South East London. With additional funding from Guys & St Thomas', Lewisham Hospital and Kings College Hospital Trusts.

Forum for Equality & Human Rights - Restricted fund from Southwark Council to act as critical friend in relation to equalities and human rights in the Borough.

Energy Advice - Funding received from Age UK, Southwark Council, DECC and Citizens Advice to tackle fuel poverty.

Thames Water Trust Project - Restricted fund project to provide water saving and debt advice.

Cardinal Management Ltd - Major Trauma Centre - Funding from Cardinal Management Ltd to provide a generalist advice service for patients on the Major Trauma unit at Kings Hospital.

Universal Credit Migration Project - Funding from United St Saviours to increase our advice capacity linked to help Universal Credit claimants in the North of the borough.

Legal Aid Contract - Income from Legal Aid agency for providing legal assistance for Housing and Immigration cases.

Universal Credit Support - Restricted fund project from Citizens Advice Bureaux provided by DWP to assess clients and help make Universal Support claims using a multiple of channels such as face to face, telephone and online.

Universal Support Best Practise Lead - Restricted fund project from Citizens Advice Bureaux provided by DWP to gather and share information about the performance of Universal Credit and Help to Claim, build local relationships and to develop and share best practice.

Limb Reconstruction - Restricted fund project from Kings College University to provide the Limb Reconstruction Unit with an adviser who will give patients advice and information on benefits, debt, housing and employment.

Covid 19 Grants – Various grants providing restricted funds to assist the Bureau during the Covid 19 pandemic. Southwark council, Citizens Advice, David Family Foundation and WPI Economic.

Financial Inclusion - Restricted fund project from Big Lottery to fund Southwark Food and Financial Inclusion Support Project.

- 28 -

DocuSign Envelope ID: ED91D468-2B92-49C7-ADBF-42A59F3EA7C1

Southwark Citizens Advice Bureaux Service

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

AdviceLine - Restricted fund project from Citizens Advice Bureaux to enable the service to increase capacity to respond to the immediate demand for advice arising from COVID-19

St George the Martyr Charity - Restricted fund project from St. George the Martyr Charity to fund Generalist Advice.

Guys & St Thomas’ - Restricted fund project from been set up to protect the health and wellbeing of people at risk of developing multiple long-term conditions who are living with financial difficulty exacerbated by COVID-19.

20. Analysis of net assets between funds

Unrestricted Total Funds
Funds 2021
£ £
Tangible fixed assets 3,750 3,750
Current assets 1,678,506 1,678,506
Creditors less than 1 year (336,693) (336,693)
Creditors greater than 1 year (123,783) (123,783)
------------------------------------- -------------------------------------
Net assets 1,221,780 1,221,780
===================================== =====================================
Unrestricted Total Funds
Funds 2020
£ £
Tangible fixed assets 7,500 7,500
Current assets 1,620,642 1,620,642
Creditors less than 1 year (205,045) (205,045)
Creditors greater than 1 year (201,595) (201,595)
------------------------------------- -------------------------------------
Net assets 1,221,502 1,221,502
===================================== =====================================

21. Analysis of changes in net debt

At
At 1 Apr 2020 Cash flows 31 Mar 2021
£ £ £
Cash at bank and in hand 1,364,913 93,438 1,458,351
===================================== ========================= =====================================

22. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

2021 2020
£ £
Less than 1 Year 63,250 63,250
Between 2 – 5 years 127,653 163,903
Later than 5 years 359,910 387,000
------------------------------------- -------------------------------------
550,813 614,153
===================================== =====================================

23. Related parties

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2020 - Nil)

- 29 -