2022-03-31-accounts - Southwark Citizens Advice Bureaux Service

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Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO Company registration number.. 03507093 Charity number.. 1070263 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) MENZIES BRlbA TER, i nINl[l

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Truste8s' report lincorporating the directo5 r8POrtI 2-10 Independent auditors. report on the financial statements Statement of financial activitie5 15 Balance sheet 16 Statefflent of cash flows 17 Notes to the financial ststements 18-33

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Tru8ts9¥ Nehal Depani Tasmin Maitland (resigned 9 February 20221 Patricia Boyer Martina O'sullivan Aleksandr Al-Dhahir (resigned 9 February 2022) Catherine Colebrook (appointed 3 November 20211 Abeer Sharma lappointed 5 September 20211 Thomas Smith Kerrie Adams (appointed 24 August 20221 Company registered number 03507093 Charity registered number 1070263 Regi$t8red offieè 8 Market Plaee Southwark Park Road Bermondsey London SE16 3UQ Company secretary Christopher Green Independent auditors Menzies LLP h8rtered Accountants Centturn House 36 Station Road Egham Surrey TW20 9LF Bankers Lloyds Bank PLC CAF Bank Limited Page 1

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2022 Structur8, governance and managernent Gov•ming Doeumant Southwark Citizens Advice Bureaux Setvice 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 mernbers. Southwark Citizens Advi Bureaux Service is governed by its Memorandum and Articles of Association as amended on 18 May 2010. SoLrthwark Citizens Advice Bureaux Service was iNcorpor8led as a company lirnited by guarantee on 9 February 1998. The chaiity cotnmenced operations on 1 April 1998 at whith date the 8ssets and liabilitie5 of the unincoiporated Southwark Citizens Advice Bureau Service were acquired. Recruitmènt, Appointmènt of Trustaès 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 NeY appointed Trustees are provided with a comprehensive induction lo Southwark Citizens Advice Bureaux Service through the provision of training courses and menloiing by estsblished ttuslees. Organisational Strueturè Southwark Citizens Advice Bureaux servi 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 Advi Bureaux Service and for ensuring that the charity satisfies ils legal and contractual obligations. Trustees meet as a minimum quarterly and delegate the day lo 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 lo the public. Connected Parties SoLrthwatk Citizen Advice Bureaux servi 15 a membei of Citizens Advice, the operating natne of the National Association of Citizens Advice Bureaux, which piovides a frarnework for standards of advice and casewoik management as well as monitoring progress against these standards. Operating ptslicies are independently determined by the Tiustee 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 departrnents on behalf of dients. Where one of the trustees holds the position of trusteeldirector of another charity they may be involved in discussions regarding that other charity but not in the ultim8te decision making process. Contribution of Volunteer The chaiity receives help and support in the form of voluntary assistance in advising the public and administering the charity. 72 volunteers, including 15 pro bono solicitors, contributed approximately 33,600 hours of work to the bureau during the year. We estimate the value of this help at £e33, 619 in respect of the current year. Page 2

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Objectives and activitie# Objècts, 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 heaKh and the relief of poverty, sickness and distress in particular, but without limitation, for the benefit ol 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 responsibilitie5 are understood and acted on by individuals and organis3lions. where decisions 8re taken with the needs of the rn051 vulnerable in our society in rnind, 8nd where services are acce55ible 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 ststement that. we sort out problems together for good. We do this by". Delivering ServIS responsive to community need., Empowering citizens to understand and exercise their rights and responsibilities., Preventing problems through education and training., Influencing social policy to achieve positive change Ensuring our work delivers our aims We review our mission. objectives and activities each yeai. This review looks at what we achieved and the outcomes of OLJr work in the previous 12 months. The ieview looks at the SucsS of each key activity and the benefits they have brought to those groups of people we a set up to help. The review also helps us ensuie our mission, objectives and activities remain focused on our ststed purposes. We have referied to the guidance contsined 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 imp8rt181 advice lo everyone on their rights and responsibilities. 11 values diversity. promotes equality and challenges discrimination. Who u¥ed and benefited from our ¥ervice¥ The Citizens Advice Southwatk team records profile infomation provided by clients on our dedicated case management system. This includes data on gender, ageldate of birth, ethnic group and disability. In addition, the Service conducts an annual survey of clients designed to provide more information aboLrt the users of our Service. There has been a slight decrease in the percentage of younger people seeking advice 124.8/0 of people under 34 compared with 28.3/0 last yearl, and a slight increase in the over 50 categories142.5°/u this year compared with 37.8°/o last yearl. 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 signrficant decrease in the number clients who are council tenanls113.8DJ¢ down from 440/0 1851 yearl. and a decrease in owner occupieis Ifiotn 7Tr/0 to 4.3P/ol. Where stated, 50.40/ts of our client5 are in receipt of welfare benelit5 or tax credits. Again, thi5 15 highei than the borough profile, but reflects the complexity of the benefits System (being in our top three advice enquiry aieasl and the high incidence of problems amongst people in receipt ol benefits. A lar higher proportion of our clients are from Black, Asian and Minority Ethnic IBAMEI communities lat 76.1., down from 83,10, compared to the borough profile of 60°/,I, which demonstrates our reach into all the communities of 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). Page 3

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Finally, whilst sexual orientation was not accurately recorded in the 2011 census, we believe th8t, historically, our reach into the boiough's LGBT community is strong. However, perhaps due to the very high number of clients did not complete this section 190QA of resptsndents over the past 12 months), it is difficuh to provide robust evidence ol this. This year 0.5¢/0 of our dients identified as lesbian, gay or bisexual, down from 7Vo 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. A client satisfaction survey was undertaken throughout the year to July 2022. Some key findings from the report are.. 96°/o of clients reported that their assessor properfy understood and dealt with all ol their issues.. 97fj/• of clients reported that they were clear on how to proceed dealing with their problem and 97Qh of clients reported that over811 they were h8ppy with the service received The Service also undert8ke5 an annual review of client cornpl8int5 and feedback received fiotn dients. Whilst the number of complaints is very low Icon51Stently around ten each year, against 8 b8ckdrop of many thousands of people acce551ng the setvicesl, the Service is committed to improving clients experience of using our services and to this end pioduces a summary of complaints and actions taken which is reviewed at least annually by the Trustee Board. 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. Charitable Activities Citizens Advice Soulhwark is a Successful organi5alion delivering high quality services in response to the needs of the Ioc81 comrnunity. AhOUgh the third national lockdown ended in March 2021, in 2021r22 we continued to face the fallout from COVID-19 through the economic consequences on local people. In addition, from autumn 2021 the cost of living crisis began to bite, leading to an increased demand for advice from vulnerable local people. An important achievement, therefore, has been to maintain a range of access channels for local people needing advi and information, including, face to face drop in expanded opening hours at each of our 3 offices. Other recent achieverllents indude.. 20.299 olienls helped across the Service in 2021122- a 10/0 in¢ie8se on 1851 year120.0251. helping then lo de81 wlh 49.000 issue5_ 8 100/0 Incie8se on last ye8r145.6071 Enabling our client5 to achieve financial gains of t8,875,2991£7,452,4191 in the last year Funding foi existing servitss and projects extended, induding our core service, Debt Free London, Back on Track, Energy Advice, Homeowners, Thames Water, Macmillan & Dimbleby, Universal Credit Support and EU Settlement Scheme New Mental health Debt Advice project (now called Money Support Advice project) wth funding from Public Health New Private Renters Support project with funding from Southwark Council New funding confimied from United St Saviour's Charity to establish a Foodbank Advice project New funding confimied from GLA through the London Citizens Advice Development Project for a Crisis Prevention project New funding nfined from Soulhwark Council for a new specialist irnmigration advice project working wlh Southwark Day Centre for Asylum Seekers Delivered new fin8nci81 inclusion frontline workers awareness 18ising sessions Rec0rnmend Advice & Support Roadshows Restarted council rent ariears clinics Resumed Digital Support Sessions at WahNorth c0-produd Cash First Worrying About Money leaflets Training for employment support advisers working wth people with mental health issues, to help remove barriers to employment Scored 'Excellent° on Citizens Advice Leadership Self Assessment Scored Green on People Survey Page 4

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Activitiès In 2021-22 Citizens Advice Southwark dealt with 49,000 new issues la 10¢/o increase from the 45,607 handled in 20-211, which came from 20,299 dients seen across the service la small decrease of 7Qkn increase from the 20,025 assisted in 2020-211. These increases were against the decreases experienced in the previous year and caused by the 3 national lockdowns and the move to remote working. Of the new issues welfare benefits. housing and debt remained the lop three categories of issues in the borough, a138°1o, 17Qh and 11 0/0 of the total enquiries iespectivety. Through this activty weie able to achieve recoid financi81 gains for our clients of £8,875,299 In 2021-22 across 8115ervices lan increase of over 19)/o from the 2020-21 financial gain of £7,452,419). It is clear to see that the fallout from the COVID-19 pandemic, and the cost of living crisis, have had a huge impact on vulnerable local people and how we seek to meet their need for advice. The ending ol the various schemes designed lo help people through the pandemic, such as the ban on evictions (May 20211, the Job Retention Scheme Isurnmer 20211, and the £20 increase for Universal Credit claimants (September 20211, and with creditors resuming normal recovery processes, all had an impact on levels of financial hardship and indebtedness, 8nd homelessness. By autumn 2021 the cost of living oiisis began to take hold as infl8tionary pre55ures led lo pri¢es rising faster than income. This was then exaceibated by the wai in Ukraine frorn February 2022 onwards. Recent figures from Citizens Advice show a big increase in the number of debt advice dients with negative budgets, and demonstrates the impact of the crisis. However, perhaps the most immediate and visible impact ol the cost of living crisis has been the steeply rising energy prices, increased problems in paying gas and electriaty bills, and the ensuing growth in fuel poverty. Citizens Advice Southwark's own data shows that the number of fuel debt and utilities related enquiries are growing rapidly. The impact of the cost of living crisis is being fett most acutely by local residents who are already vulnerable, perhaps as a result of physical or mental ill he8tth, homelessness. or because they are living in poverty. have insecure immigration stslus. or 8S 8 result of sharing protected characteristics under equalities legislation. for exarnple age. disability. race or religion and belief. It is thereft)re incLJmbent on us to continue to develop new projects and partnerships that target some ol these most affected groups and communities. Our updated Service Delivery Plan indudes this information and sets out how we have developed our service to best meet the advice needs and inequalities that have been exacerbated by the pandemic and cost of living crisis. The section below describes the service that Citizens Advi Southwark is currently providing.. Generalist Advice Services- al Peckham, Bemiondsey and Walworth offi$ (funded by a contract wrth Southwark Council) Peckhatn offers open dooi g8tew8y assessrnenl sessions five days a week, Monday lo Friday. fiotn 10am -3ptn. ermondsey offers open door gateway assessment session on Monday, Tuesday, Thursday and Friday from 10am-3pm. WahNOrth offers open door gateway assessment sessions on Monday, Tuesday, Wednesday and Friday from 1 Oam-3pm. Appointments are also provided at all offices throughout the week for advice at general help wth casework level., Citizens Advice Southwark has a single public telephone advice number and provides telephone gateway assessment throughout the week. This is followed up with call back telephone advice 8t general help level as needed.. The team also answer generalist enquirie5 received by letter and email 8nd undertake home vists. Page 5

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 There is an online ieferral form on our website which can be used by partner org8nisations to refer clients to us. Ibl Southwark Councll Leaseholder Advlce Prolect- established 2006 (funded jointly by a contract with Southwark Council and a grant from Southwark Homeowners Counall The project is based at the Bermondsey office and sees clients by appointment. It also provides a dedicated telephone and email message advice SeICe. Clients can self-reler and referrals also come from our internal teams and other agencies. Debt Free London Money Advice Project- established 2006 (funded by a grant with Toynbee Halll The project primarily sees dienls by appointment at Bermondsey. 11 has a dedicated message line for client self-referr818nd takes refeir815 from the 3 offices and other agencies. Debt Advice is provided at general help with casework level through to repie5entation. Macmillan and Dimbleby Advice Projeet- established 2008 (funded by a grant from Macmillan Cancer Support, Dimbleby Cancer Care and contributions from hospitals) The project offers speaalist welfare benefits advi for people affected by canr and their families through to representation. The service is provided at hospital clinics at Kings College Hospital, Guys Hospital, St. Thomas's Hospital, Lewisham Hospital and Queen Elizabeth Hospital in Woolwich. As well as delivering services al hospitals the project also provides a dedicated telephone and message line service. Financial Capability Work- established 2008 Icurrenlly funded through a variety of sources) Citizens Advice Soulhwaik undertakes a lange of financial capability and Energy Saving advice presentations and training seminais in conjunction wth Citizens Advice nationally and other local advice providers. As part of this progiatntne Citizens Advice Southwark also cOrdinateS the Southwark Finan1 Indusion Forum. Southwark Legal Advice Network ISLANI- established June 2009 (Big Lottery Fund grant initially under Advice Plus and funded by the Advice Services Transition Fund until July 2015, now supported within existing resources) To lead on developing an integrated advice network across Southwark to improve access to quality assured advice services and sell-help inlomiation lor people in greatest need. Forum for Equalities and Human Rights in Southwark IFEHRSI- established December 2010 (funded by grant from Soulhwark Gouncil and. from April 2019, by a 4 year Strategic Partner Grant frorn the new common Purpose council grants programmel Reviews council COTnpliance with the Publi¢ Sector Equality duty. and supports the delivery and developrnenl of Equalities and Human Right5 in Southwark", The role indudes the following functions". Policy and challenge", Information and briefing to the Voluntary and Community Sector., and Consultation and partnership. Specialist Immigration Advice Service- established June 2011 Ifunded by the Trust for London and from September 2018 a Legal Aid Agency contract) Provides specialist level immigration advice to clients across South East London, induding representation., The service sees clients al outrea¢h 8dvice sessions and by 8ppoINlmenl 8t the Berrnondsey office. Specialist Housing Advice Service- from Septernber 2018 and funded by 8 Leg81 Aid Agency contradl H•lp to Claim.. Univèrsal Cradit- from April 2019 and funded through Citizens Advice Ifollowing a re-tendeiing exeruse carried out by the DWP, funding for CAS to deliver this service ended in March 20221 Provides advice and support face to fa, over the phone, by webchat and at outreach (local JCPS) to help people claim Universal Credit Best Practice Lead- from April 2019 and funded through Citizens Advice. IFollowing a r&tendering exercise carried out by the DWP, funding for CAS lo deliver this service ended in March 20221 Gathers and shares best practice from JCPS and Help to Claim servi3 across South London Page 6

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 L&Q debt and money advice project- (funded by L&Q Housing Trusti Contract to provide debt and money advice to London & Quadiant Housing Trust tenants. Im) Malor Trauma Centre Advlce Servlce- Ilunded by Cardinal Managementi Provides a generalist advice service for patients on the Major Trauma ward at Kings College Hospital. Rebuild Project- (funded by Rebuild Charity) advice project at the Limb Reconstruction Unil at Kings College Hospital Back on Track Project- (funded by Guy s and St Thomas's Ch8rityl Piovides debt and benefits advi in GP surgeries EUSS project- IfLJnded by Home Office) Piovides advice on EU Settlement Scherne Iql Thames Water Debt Advlce Servlce- established July 2013 and recommended in 2021 Ilunded by a grant from Thames Water Trustl Provides money advice, casework and referral to the Thames Water Customer Assistance Fund for people with Tharnes Water debts. Mentsl health debt advice project- coMMend December 2022 (funded by Public Health Southw8rkl Provides targeted debt 8dvi¢e to people with mental health issue5 and training for Soulhwark Work Well Employment Support Advisers. who are working lo support people wrfch mental he8h wndilions return to work. Private Renters Support project- commenced March 2022 (funded by the council). The project aims to engage wth private renteis in Southwark and develop a Piivate Renters Support Organisation. UnSversal Credlt Network and Southwark Advlce Forum- funded by United St Saviours Charity Universal Credit Network provides advice, support, information and training to local VCSOS who do not have the capacity or expertise to assist their service users wth UC issues Southwark Advice Forum provides training and information sharing opportunities for advisers and supervisors in Southwark advi agencies In addrfcion. we have recently been awarded funding lo set up advice services largeling foodbank users (by United Saint Saviour's Chaiityl,. refugee5 and 8sylurn seekers Iby Southwatk Coun¢ill', 8nd vulnerable people needing advice (by the GLA through the London Citizen5 Advice Developrnent projecti. Financial ravièw Our financial position is shown in detail on the pages followng of these financial statements however some salient figures are as follows.. Incoming resources in the year were £1,784,80812021- £1,802.1461 of this £1,083,154 related to restricted activities. Expenditure for the year was £1.825,992 12021- £1,801.8681 of which £1.382.20312021 - £1.311.5221 related to salaries, national insurance & pensions. This continues to represent the most significant c05t to the Bureaux a175°/o 12021 - 73.101 of tot81 expendituie. There was a net deficit foi the year of £41,18412021 Surplus of £2781 ol which none were restricted12021 - £Nill. At 31 March 2022 total reserves were £1,180,59612021- £1,221,780) all of which all represented unrestricted funds. Page 7

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Re8erveB Policy SoLrthwark 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 I the free reserves") at a level of approximately six months working capital expenditure. This is to ensure that in the event of unexpected finanaal or service problems activities can be managed effectively so as to minimise disruption to service users and to enable 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 £1,180,637 are in line with this policy. Principal Funding Sources We have diverse funding stieams as detailed in note 6 of the accounts. Invastmènt Policy As required in its Memorandum, paragraph Ikl, 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 dale. The charity does not currently hold materi81 investrnents. Finan¢ial Factors Affecting the Achievement of Objectives The chaiity is very aware of the financial piessures experienced by its major hinders, and in view of this has taken active measures to seek additional sources of fLJnding 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 Strategic Priorities for the period 2022-25. These are to.. Ensure access lo high quality advice. particularfy for those in greatest need., Strengthen the effectiveness of our Research and Campaigns work. particularfy locally.. Develop and deliver work lo pievenl problems trom starting 01 recurring.. Build on our p8rtnership working to strengthen services for loc81 people., Focus our ie50urce5 on achieving positive outcomes for clients and value foi money," and Set an example as a good etllployer, providing quality tiaining and skills development. Citizens Advice Southwark is assessed as being in a strong position to move forward in achieving its aims and objectives lor the future and is committed to a dynamic and entrepreneurial approach in maximising the available opportunities to develop and enhance the services we provide. Our strategic priorities have been designed to meet the needs of our diverse local cornrnunily, including advising and supporting local people with different experiences 8nd backgrounds, as well as supporting the achievernent of the national Citizens Advi strategic objectives as sel OLrt in the Future of Advice Strategic Framework 2019-22. These Fuluie of Advice slr*egi¢ objedives are sel out below.. Advice We'll continue to improve people's experience, so that everyone leaves us with the knowledge and confidence they need to find a way forward. Advocacy We'll be an even stronger voice on issues that matter most to the people who need our help. Technology We'll use technology to enable a positive experience for everyone, and free up resources to meet more demand. Sustsinability We'll underpin our future as a service by ensuring we lake a collaborative, proactive and comrnerci81 approach to securing and rnainlaining funding. Page 8

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Culture We'll bè a collatx)rative, innovative and high-perfoming service that challenges discrimination and piomotes equality, diversity and inclusion. Our strategic priorities also support the Future of Advice Equality Diversity and Inclusion goals.. Our advice services will be accessible and relevant to all our diverse clients whose experiences and outcomes will be more positive Our advocacy servi8 will speak up for those who face intense disadvantage, delrirnent or hami lo their wellbeing and we will improve how we identify and consider those needs Our technology will respond lo user needs and will improve aooess to our services. including face lo face In teims of Sustainability. our services will be designed and costed, taking aw)unt of the needs of those facing di58dvantage, detriment or har Our eultur8 will be more inclusive and we wll continue to make our whole service more diverse with better equality of opportunity foi all COVID-19 and the Cost of Llvlng CrlsSs The COVID-19 pandemic changed the entire landscape. It affected the physical, mental and economic health and wellbeing of huge numbers of local people, not lo mention. through observing social distancing guidelines, the way in which we, and the voluntary and corllrllunity sector as a whole. are able lo deliver our services and help people. The adverse economic impad of the pandemic has continued through the cost of living crisis, which has seen household budgets squeezed as prices rise fastei than income. More recently the crisis has been ex8ceibated by the war in Ukraine, which has contributed to the rise in energy priS and the disruption of supply chains across the world. The prospect of further significant rises to the energy (ap in October 2022 and beyond, provides a very real threat not just to the economic circumstances, but to the actual health and wellbeing of many local people. As a result, we expect higher levels of indebtedness, including rent arrears, and the escalation of related problems such as food and fuel poverty, and hornelessness. In short, we expect the situation for many vulnerable local people and cornmunilies will remain extremely difficult. These challenges. which will disproportionately impact vulnerable communities, also suggest that we can expect current high leve15 of dernand for our service8 lo continue in the cotning ye8r5. Truste8s' respon8ibilitie$ Statement The trustees, who are also directors for the purposes ol company law, are responsible for preparing the trustees, report and the linanaal statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Apted Accounting Practi1. 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 cornpany and the incoming resou$ and application of resources, including the income and expenditure. for that period. In preparing these financial slalernenls. the trustees are required to.. select suitable accounting policies and then apply thetn consistently", observe the methods and piinciples in the applicable Charities SORP, make judgments and accounting estimates that are reasonable and prudent," prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity 11 continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charitls transactions and disclose with reasonable accuracy at any lime the financial position of the charity and enable Ihern to ensure that the financial statements cornply wth 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 Page 9

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Auditor Each of the persons who is a trustee at the date of approval of this report confim)s that.. so far as they are aware, there is no relevant audit information of which the charitls auditor is unaware,. and they have taken all steps that they ought lo have taken as a trustee to make themselves aware of any relevant audit inforrnation and lo establish that the charitys auditor is aware of that information. The auditor is deemed lo have been re appointed in accordan with section 487 of the Companies Act 20(. Small company provi8ions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. Approved by order of the members of the board of Trustees and signed on their behalf by.. Martina O'sullivan Date.. 08-Nov-2022 Page 10

DocuSign Envelope ID: 172C0618-B474-4C1E-B532-38587CE88FA0

SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE

Opinion

We have audited the financial statements of Southwark Citizens Advice Bureaux Service (the 'charity') for the year ended 31 March 2022 which comprise the Statement of financial activities, the Balance sheet, the 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 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 2022 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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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 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 Trustees with respect to going concern are described in the relevant sections of this report.

Page 11

DocuSign Envelope ID: 172C0618-B474-4C1E-B532-38587CE88FA0

SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE(CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinion on other matters prescribed by the Companies Act 2006

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

the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
the Trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company 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 Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as 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.

Page 12

DocuSign Envelope ID: 172C0618-B474-4C1E-B532-38587CE88FA0

SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE(CONTINUED)

Auditors' 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 Auditors' 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 including FRS 102, Charities SORP, Companies Act 2006, Charities Act 2011, UK employment legislation, Health and Safety legislation and General Data Protection Regulations. 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 charitable 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. We corroborated our inquiries through our review of board minutes.

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

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including how fraud might occur. 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; management override of controls to manipulate results, or to cause the charitable company to enter into transactions not in its best interests.

Audit procedures performed by the engagement team included:

Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
Challenging assumptions and judgments made by management in its significant accounting estimates; and
Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

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 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.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

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DocuSign Envelope ID: 172C0618-B474-4C1E-B532-38587CE88FA0

SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE(CONTINUED)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' 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 its 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: 08-Nov-2022

Page 14

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022 Unrestricted funds 2022 Restricted funds 2022 Totsl funds 2022 Total funds 2027 Note Income from.. Donations and legacies Charitable activities 619 619 I,OS3 1,800,457 656 700,804 231 1,083,216 1,784,020 231 Investments Total income 701,654 1,083,216 1,784,870 1,802, 746 Exp8nditur8 on.. Charitable activitie5 742,797 1,083,216 1,826,013 1,807,868 Total expendlture 742,797 1,083,216 1,826,013 1,801,868 Net movement in funds 141,1431 141,1431 278 Reconciliation of funds: Total funds brought forward Nel movement in funds 1,221,780 141,1431 1,221,780 141,1431 1,221,502 278 Total funds carrled fOard 1,180,637 1,180,637 7,221, 780 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 18 to 33 form part of these financial slalernents. Page 15

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) 03507093 BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Note Fixed assets Tangible assets 12 3, 750 3, 75Q Current assets Debtors 13 211.530 1,292.638 220, 155 1,458,357 Cash at bank and in hand 1,504,168 7.678.506 Creditors.. amounts falling due within one year 14 1211,4661 (356,693) Nèt currènt assèts 1,292.702 1,347,873 Totsl assets less Current liabilities 1,292,702 1.345.563 Defined benefit pension scheme liability 15 1112,0651 (123, 783) Total nat assèts 1,180.637 1,227, 780 Charity funds Restricted funds 16 Unrestricted funds 16 1,180,637 1.221, 780 Total funds 1,180,637 1,221, 780 The Trustees a¢knOedge their responsibilitie5 for complying wlh the requirements of the Act wlh respect lo accounting records and preparation of financial statetnent5. The financial statements have been prepared in 8ccoid8nce with the provi510n5 applicable to entities subject to the 5m811 companies regime. The financial statements were approved and auihorised for issue by the Trustees and signed on their beha by". DDsuSvJnEdby". PAG1P11Q[....................... Martina O'sullivan 081e'. 08-Nov-2022 The notes on pages 18 to 33 form part of these financial statements. Page 16

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Cash flows from operating activities Net cash used in operating activities 1165,9441 92, 782 Cash flows from inveBting activities Interest received 231 656 Net ¢ash provided by investing activiti 231 656 Cash flows from financing activities Nèt cash providèd by financing aetivitiès Changè in eash and cash èquivalènts in tha yaar 1165,7131 93.438 Cash and cash equivalents at the beginning of the year 1,458,351 1,364,973 Cash and cash equivalents at the end of the year 1,292,638 1,458,351 The notes on pages 18 to 33 form part of these financial slalernents Page 17

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 General information The charity 15 a public benefit entity and a piivate company litnited by guarantee, registered in England and Wales and a registered chaiity in England and Wales. The address of the registered oifice Is 8 Market Place, Southwark Park Road, Bermondsey, London, SW16 3UQ. Accountlng pollcles 2.1 Basis of preparation of financial statements The financial statement5 have been prepared in 8cwrdanoe with the Charities SORP IFRS 1021- Accounting 8nd Reporting by Charities.. Statement of Rewmmended Practice applicable lo oharilies preparing their accounts in 8ccordance with the Fin8n¢ial Reporting Standard applicable in the UK and Republic of Iieland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Southwark Citizens Advice Bureaux Service meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. 2.2 Going concern There are no material UnrtaIntieS about the charitys ability to continue. The Covid 19 Pandemic has not had a rnateri81 imp8Ct on Southwark Citizens Advice funding. With the use of unreslricled fund5 and grants received. the bureau has adapted lo government Sla1 distancing measures. Employees and volunteers ale able to work frorn home as well a5 using any of the 3 offiS to ensure we continue to deliver our services during the pandemic wthin 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. Page 18

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Ac¢ounting poli¢ie$ l¢ontinuedl 2.3 Ineom• All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received il the value can be reliably measured. No amounts are included for the contribution of general volunteers. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shovm in the relev8Nt funds on the Balance sheet. Where incorne is received in advan of entitlement of receipt. ils recognition is deferred and included in creditors as deferred income. Where enlillernent occurs before income is received. the income is 8ccrLJed. Income from contracts for the supply of services is recognised with the delivery of the ctsntiacted service. This is classified as unrestiicted funds unless there is a contractual requirement lor it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Legacy income is recognised when receipt is probable and entidement is established. 2.4 Expenditure 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 rt relates. Expendrfcure on raising funds include5 811 expenditure incurred by the Charity lo raise funds for ils ch8rit8ble purposes and includes wsls of 811 fundraising adivities events and non-¢h3rilable trading. Expenditure on chaiitable activities is incurred on directly undertaking the 8Ctivities which further the Chaiity's objectives, as well as any associated support costs. Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 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 beeen the activities they contribute to on a reasonable, justifiable and consistent basis. 2.5 Tangible fixed assets and depreciation Tangible fixed assets costing £1000 or more are capilalised 8nd recognised when future economic benefits 8re probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised al cost. After recognition, under the cost model. tangible fixed assets are measured at cost less accumulated depreciation and any accumulated imp8iirnent losses. All costs incuired to bring 8 tangible fixed asset Into its intended working condition should be Included in the measurement of cost. Page 19

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Ac¢ounting poli¢ie$ l¢ontinuedl 2.5 Tangible fixed assets and depreciation Icontinuedl Depreaation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreaation is provided on the following basis.. Computers & electronic equipment 33/0 Straight line 2.6 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 ol 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. 2.7 Debtors Short lertn debtors are measured al transaction price. less any impairment. Loan5 receivable are measured initially at fair v81ue, net of transaction Costs, and are rne8sured subsequently at amortised wst using the effective interest tnethod, less any impaiirnent. 2.8 Cash at bank and in hand Cash is represented by cash in hand and deposits wth 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 ol cash with insignificant risk of change in value. 2.9 Creditors Basic financial liabilities, including trade and other creditors. loans from third parties and loans from related parties, are initially recognised al transaction price. unless the arrangement constitutes a financing transaction. where the debt instrument is measured al the present value of the future payments dISvn1ed at 8 m8rkel rale of interest. Such instiumenls are subsequently carried al amortised cost using the effective interest method, less any itnpaitmenl. 2.10 Provisions Provisions ale recognised when the entity has an obligatitsn at the reporting date as a resutt of a past event, it is piobable that the entity wll 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 al each reporting date and adjusted to reflect the current best estimate of the 8mount that would be required to settle the obligation. Any adjuslmenls to the amounts previously recognised are recognised in income or expenditure unless the provision was originally recognised 8$ part of the cost of an asset. When a provision is measured al the present value of the amount expected lo be iequiied to settle the obligation. the unwinding of the discount is recognised a5 a Iinance cost in the 5tatetnent of financial activitie5 in the period it arises, and is allocated to the appropriate expendituie heading. Page 20

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Jud9ernentB and key $ourc•s of estimation uncertainty SoLrthwatk Citizen Advice Bureaux Service has worked on a Cotpoiate 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 charrty is exposed need to be reviewed and systems put in place to mitigate those risks. To that end Southwark Citizen Advice Bureaux servi 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 ol sources. The charity continues to seek to diversify ils funding Sour3. Internal risks are rninimised by the implernentation of procedures for 8Uthorisation of all Ir8nsa¢lions and projects and lo ensure consistent quality of delivery for all operational aspects of the charitsble cornpany. These procedures are periodically reviewed lo ensure that they still meet the needs of the charity. The trustee board ha5 8ppioved 8 new information a55ur8nce strategy, having identtfied the risk presented by the significant amounts of client data held in the bureau. An information a55LJrance Tnanagement team exist5 to ensure the confidentialrty, Integrity and availability of all our sensitive data assets is maintained to a level which is consistent with the requirements ol 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 practi, as defined by the ISO 27000 series of standards. Limited by guarantee Southwark Cityzens Advice Service is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes lo contribute such amount as may be required not exceeding £1 to the assets of the charitable wmpany in the event of its being wound up while he or She is a member. Ineom• from donations and l•gaeiès Unrestricted funds 2022 Total funds 2022 Total funds 2021 General donations 619 619 1,033 Total 2021 I,OS3 1,033 Page 22

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Ineomè from charitablè activitias Unrestrlcted funds 2022 Restrlcted funds 2022 Total funds 2022 Total funds 2021 Southwark Council 692.081 96.717 150,540 788,798 150,$40 793,612 288,207 97,5QO 85,951 83,868 25,910 270.979 7,0( 5,329 2,975 27,478 79, 127 1.0( 10,000 6, 720 Toynbee Hall- Capitalize The Big Lottery Fund Macmillan Cancer Support Dimbleby Canr Care & Palliative Care Cardinal Managetnent Ltd - Majoi Trauma Centie Citizens Advi 85,951 84,000 26,553 267.455 10,000 85,9S1 84,000 26,553 274,472 10,000 956 7.017 Tharlles Water London & Quadrant Housing Trust Kings College (Limb Construction) United Saviour- UC Migration Legal Aid Contract Other income- CAML 956 5,500 15,000 70,053 5,500 15,000 70,053 750 750 St George Martyr Guys & St Thomas's Trust EUSS- United St Saviour David Family Foundation WPI Econotnics 3,333 156,018 79,444 3,333 156,018 79,444 5,000 5,000 4,801 HMRC- Furlough Other Income 32,652 32,652 700,804 1,083,216 1.784,020 1,800,457 Total 2021 769,042 1,031,415 1,800,457 Investment income Unrestricted funds 2022 Total nds 2022 Total funds 2021 Bank interest receivable 231 231 656 Total 2021 656 656 Page 23

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Analysis of èxpènditurè by aetivitiès Actlvltles undertaken directly 2022 Support costs 2022 Total funds 2022 Total funds 2021 Charitable activities 1,387,475 438,538 1,826,013 1,801,868 Tot812021 I,S46,929 454,939 7,801,868 Analysis of direct costs Total funds 2022 rotal funds 2021 Activities 2022 Staff costs Office costs Fees to partner organisations Training 1,204.845 160.345 9,250 13,035 1,204,845 160,345 9,2SO 13.035 1, 198.319 144,582 4,028 1,387.475 1,387,475 1,346.929 Total 2021 1,346,929 1,346,929 Page 24

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Analy¥i¥ of expenditure by activities Icontinuedl Analysi8 of support cost# Total funds 2022 Total funds 2021 Actlvities 2022 Staff costs Depreciation Pietnises 177,358 3,750 59,450 42.930 148.190 6,860 177,358 3,750 59.450 42,930 148,190 6,860 113,203 3, 150 90,069 109.846 131, 171 6,900 Legal & Profession81 Office costs Governance 438.538 438.538 454.939 rotal 2021 454.939 454,939 Audltors, remuneratlon 2022 2021 Fees payable to the Ch8rrtYs auditOT for the audit of the Charity's annual accounts 4,725 4,500 10. Staff costs 2022 2021 Wages and salsiies Social security costs Contribution to defined contribution pension schemes 1,199,492 112,648 70,063 1.198.808 110,368 2,346 1,382,203 1,311,522 The average number of persons employed by the Charity during the year was as follows.. 2022 No. 2021 No. Etnployees Page 25

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 10. Stsff Costs Icontinuedl No employee received rernuneration atnounting to more than £60,000 in either year. 11. Trusts. remuneration and expenses Ouring the year. no Trustees received any rernuner*ion or other benefits (2021 - £NILJ. DLJring the year ended 31 March 2022, no Tiustee expense5 have been incurred (2021 - £NILJ. 12. Tangiblè fix•d ass•ts Equipment Cost or valuation At 1 April 2021 91,626 At 31 March 2022 91,626 Depreciation At 1 April 2021 Charge for the year 87,876 3.750 Al 31 March 2022 91,626 Net book value At 31 March 2022 AI 31 IW8rch 2021 3. 750 13. D•btors 2022 2021 Due within one year Grants in arrears Other debtors Prepayments and accrued income 71,982 130,798 8,750 132,077 84,314 3, 764 211,530 220, 155 Page 26

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14. Creditor8= Amounts falling due within one year 2022 2021 Trade creditors Other taxation and social security Other creditors Accrua15 and deferred incoTne 57,689 89,061 86,442 94, 168 10,174 145,969 64,716 211,466 336,693 2022 2021 Deferred income at 1 April 2021 Resources deferred during the year Amounts released from previous periods 35,986 53,270 13S,9861 21,472 35,986 (2t,412) 53,270 35,986 1S. Provlslons 2022 At April 2021 Charge against provision 123,783 111,7181 112,065 Page 27

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 16. ststement of fund¥ Staternent of funds- current year 8alaneè at 1 April 2021 Balane• at 31 March 2022 Incom• Expanditur& Unre¥tricted fund8 General Funds 1,221,780 701,6S4 1742,7971 1,180,637 Restricted funds Southwark Council 96,717 150.540 85,951 84,000 26,553 267,455 10,000 5.500 15,000 70,053 3,333 32,652 156,018 79,444 196,7171 1150,5401 185,9511 184,0001 126,5531 1267,4551 110,0001 15,5001 115,0001 170,0531 13,3331 132,6521 1156,0181 179,4441 Toynbee Hall- Debt free London Mactnillan Cancel Support Dimbleby canr Gare & Palliative G8re Cardinal Management- Major Trauma Centre Citizens Advi Thames Water Kings College- Limb Construction United Saviour- UC Migration Leg81 Aid Contract St George Martyr Kickstart Guys & St Thomas, Trust EUSS- United St Saviour 1,083,216 11,083,216) Total of funds 1,221,780 1,784,870 11,826,013) 1,180,637 Page 28

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 16. ststement of fund¥ l¢ontinuedl Staternent of funds- prior y8ar Balance at 31 Mah 2027 Balance èt l April 2020 lftcome Expenditu Unrestricted fund¥ General Funds 1,227,502 784,675 (784,397) 1,221, 780 Re$tri¢ted funds Debt Free London Money Advice Macmillan & Dimbleby Welfare Benefits Advi Forum for Equality & Human Rights Energy Advice Tharnes Water Tru51 Cardinal Management- Major Trauma Centre Universal Credit Migration Universal Credit Support Kings College- Limb Reconstruction Covid 19 Funding Grants The Big Lottery Fund Advice Line 288,207 t69,819 22,400 11,140 7.000 25,909 75,000 t81,208 2,975 32,818 97.500 28,000 10,000 6,720 39,648 79, 127 (288,207) 1169,8tg) {22,400) {11, 140) (7.000) (25,909) (15,000) 118t,208) (2,975) {32,818J (97,500) (28,000) (10,000) (6,720) {39,648) {79, 127) St George the Martyr Charity Guys & St Thomas, Trust Universal Support Best Practice Lead Legal Aid Contract 7,077,471 (I,Q17,477) Totsl of fund 1,221,502 1,802, 146 (1,801,868) 1,227, 780 Page 29

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 16. ststement of fund¥ l¢ontinuedl Debt Free London Money Advice Project- Restricted fund provided by Toynbee Hall through the Money Advice Service for the provision of fats-tfrface money advice. Macmlllan & Dlmbleby Welfare Benefits Advlce Project - Restricted fund provided by Macmillan Cancer Support and Dimbleby Cancer Care to provide welfare benefits advice for people affected by canr at hospitals across South East London. Wrth additional funding from Guys & St Thomas,, Lewisham Hospital and Kings College Hospital Trusts. Forum for Equality & Human Rights - Restricted fvnd from Southwark Council to act as critical friend in relation lo equalities and human rights IN the Borough. Energy AdVI- Funding received from Southw8rk Council Citizens Advi to tsckle fuel poverty. Thamès Watèr Trust Proj•et- Restricted fund projed to piovide water saving and debt advice. Cardlnal 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 daimants in the North of the borough. Legal Aid Contract - Incorne from Legal Aid agency for providing legal 8SS151ance for Housing and Immigration cases. Universal Credit Support - Restricted fund project from Citizens Adce Bureaux piovided by DWP to assess clients and help make Universal Support daims using a multiple of channels such as face to face, telephone and online. Unlversal Support Best Practlse Lead - Restricted fund project from Citizens Advice Bureaux provided by DWP to gather and share information about the performance ol 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 Lirnb Reconstruction Unil with an adviser who will give patients advice and information on benefits. debt. housing 8nd employrnent. St George the Martyr Charity - Reslrided fund project fiotn St. George the Martyr Charity lo fund Genei8lis1 Advice. Guys & St Thomas, (Back on Traekl - Restricted fund project from been set up to protect the heahh and wellbeing of people at risk of developing multiple long-term conditions who are living with financial difficulty exacerbated by COVID-19. EUSS - United St Saviour - Restricted fund project from Southwark Law centre to project immigration related issues regarding clients and EU settlement. Page 30

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 17. Analysis of nat assets bètwèèn funds Analysis of nat assets bètwaèn funds - eurrènt yaar Unrestricted funds 2022 Total funds 2022 Current assets Creditors due within one year Provisions for liabilities and charges 1,504,168 1211,4661 1112,0651 1,504,168 1211,4661 1112,0651 Total 1,180.637 1,180,637 Analysi8 of net assets b8tween funds - prior year Ufirestricted furtds 2027 Total funds 2021 Tangible fixed assets Current assets 3,750 1,618,506 (336.6931 (723.7831 3, 75Q 1,678,506 (336,693) (123, 783) Creditois due within one year Piovisions for liabilities and oharge Totsl 1,221,780 1,221, 780 18. Reconciliation of net movement in funds to net cash flow from operating activities 2022 2021 Net incomelexpenditure for the year las per Statement of Finanaal Activits'esl 141,1431 278 Adjustments for.. Depre¢i*ion charges Other interest r1vable and sirllilar income Accrued expensesllincornel Decrease in debtors Increaselldecreasel in creditors Increaselldeeieasel in provisions and employee benefits 3,750 12311 3, 75Q (656) 82,941 35,574 48, 707 (77,872) 24,012 1140,6141 111,71BI Net cash provided byllu8ed inl operating activities 1165,9441 92, 782 Page 31

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 19. Analysi8 of cash and cash 4uivalents 2022 2021 Cash in h8nd 1,292,638 1.458,351 Total cash and cash equivalents 1,292,638 1,458,351 20. Analy¥iB of changes in net debt At 1 April 2021 At 31 March 2022 Cash flowB Cash at bank and in hand 1,458,351 1185,7131 1,292,638 1.458.351 1165,7131 1,292,638 21. Penslon commltments Deflned contrlbutSon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £81,781 12021.. £2,346). SoLrthwark Citizens Advice Bureau Service participated in the National Association of Citizens Advice Bureaux Pension and Assuiance Plan 119911 which was a defined benefit scheme. 11 operated in the UK and provided both pen510ns in retirement and death benefits to membeis. Pension benefits are related to the mernbeis, fin81 salaries at retirement and their length of service at the date they retired 01 left pensionable service. The Plan closed to future accrual on 31 March 2008. More than one employer partiapated in the scheme and Southwark Citizens Advice Bureau Service is unable to identify its share of the undedying assets and liabilities in the scheme. This defined benefit scheme being accounted lor 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 2021122 accounting year. the contributions lo the Plan for the year ending 31 March 2022 are expected lo be £2.579.000. which includes £2,279.000 towards the deficit and £300.000 as an allowance for adrnini51ralion expenses and all scheme levies. The Plan is a regi5teied scheme under UK legislation. The Plan 15 subject to the scheme funding iequiiements outlined in UK legislation. The Plan is govemed by the Plan's Trust Deed and Rules dated 4 April 2011. The Tiustee is responsible for the operation and the governance of the Plan, including making deasions regarding the Plan's funding investment strategy (although they are required to consuK 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 assurned membership movements over the period from this date, as well as any actual transfers out or trivial comrnutations over the period. Page 32

Docusign En¥ÈlopÈ ID". 172C0618-B4744C1E-B532-38587CE88FAO SOUTHWARK CITIZENS ADVICE BUREAUX SERVICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 21. Pen¥ion ¢ommitment¥ Icontinuedl The rnost recent foirnal actuali81 valuation of the Plan wa5 as at 31 March 2019 and revealed a lunding deficit of £68,501,000. In the recovery plan agreed followng the valLJation, the Principal Employer and other participating employers agreed to pay deficit reduction contributions of £2,279,000 per annum wth the view to eliminating the deficit by 31 March 2037. The liabilities ol the Plan are based on the current value of expecied 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 lo actuarial risks such as rnarket linvestrnentl risk, interest rate risk. inflation risk, currency risk and longevity risk. The closed scheme has current and fLrture pensioner5. The employeis wll continue to m8ke conliibution5 to the scheTne in future periods. The best estimate of contributions to be paid by Southwatk Crtizens Advice Bureau Service to the scheme lor the peiiod beginning on 01 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. 22. Operating lease commitments At 31 March 2022 the Charity had cornmilmenls to make future minimum lease payments under nOn-¢anlIable operating leases as follows.. 2022 2021 reslaled Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 52,694 108,000 336,000 63,25Q 133,694 S59,970 496,694 556,854 The following lease payments have been recognised as an expense in the Statement of financial activities.. 2022 2021 Operating lease rentals 61,591 58, 144 23. Related party tran¥action¥ The Charity h85 not entered into any related party tians3Ction during the ye8r, nor ai8 there any outstanding balances owing belween related parties and the Charity at 31 March 2022. Page 33