Citizens Advice Bournemouth, Christchurch and Poole Report and accounts Year Ended 31 March 2024 citizens advice Boumemouth Christchurch & Poole Citizens Advice Bournemouth, Christchurch and Poole Financial Statements Year Ended 31 March 2024 Charity registralion number- 1074727 Company registration nurnber.. 03537836
Citizens Advice Bournemouth. Christchurch and Poole Roport and accounts Year Ended 31 March 2024 Contents Page Charity Refen and Administrative Details Trustees, Annual Report (Including Directors, Report) Independent Auditorf5 Report Statement of Financial Activities {Including Income and Expenditure Account) Balance Sheet 4-12 13-16 17 18 Statement of Cash Flows 19 Notes to the Financial Statements 20-33
Citizens Advice Bournemouth, Christchurch and Poole Trustees, Annual Report (Including Directors, Report) Year Endad 31 March 2024 Charity Reference and Administrative Details Charity giStratIon number 1074727 Company registration number 03537836 Trustee5 Jane Burrows- Chair David Sargent Matthew Moore (resigned 181h May 2023) Andrew Karno- Vice Chair Chika Udezue Ann Dimmock Jacqueline RanGe Paul Kemp Sarah-Jane Maidens (Go-opted 141h April 2023) Mike Gibson {co-opted 5th April 2023) Company secretary Paul Kemp Senior Management Team Zoe Bradley (Chi8f executive officer) Tom Lund Dan Stannard Registorod offlce The Civic Centre. Bourne Avenue Bournemouth BH2 6DX Statutory Auditors Schofields Chartered Accountants and Statutory Auditors 5th Floor, Waverley House 115-119 Holdenhurst Road Bournemouth BH8 8DY Bankers Lloyds Bank PIC 45 Old Christchurch Road Bournemoulh BH1 1ED Investment Manager Quilter Cheviot Senator House 85 Queen Victoria Slreet London EC4V 4AB
Citizens Advice Bournemouth. Chrlstchurch and Poole Trustees, Annual Report (Including Directors, Report) Year Ended 31 March 2024 The Trustee Directors present their report and the audited financial statements of thè charity for the pèriod la April 2023 to 319t March 2024, which are also prepared to meet the Directors report and accounts for Companies Act purposes. The Trustees have adopted the provisions of the Statemenl of Recommended Practice (SORP} 'Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity. Governance and Management Citizens Advice Bournemouth Christchurch and Poole is a registered charity and company limited by guarantee. It is governed by its Articles of Association. A Trustee Board, as tx)nstituted in accordance with the provisions set out in the Articles of Association, is responsible for the overall governance of the company. The Trustee Board is responsible for appointing certain of its members to act in an individual capacity. as its representatives. either as directors of the company or as company secretsry, in accordance with the requirements of the Companies Acts 2006 As a registered chafity. the company is also required by the Charity Commissioners to appoint named individu81s to act in a formal capacity a5 trustees of the Gharty. with duties and responsibilities as set out in Gharily law and regulats'ons. The maximum number of trustees is Iwelve, and the minimum is five. Trustees are either elected at the annual general meeting, nominated by member organisalions or co-opted by the Trustee Board, providing that Ihe total of co-opted and nominatgd trustees does not ex¢eed one third of the total number of trustees. 1 elected twst8es must retire from office at the third annual general meeting following the annual general meeting at which they We elected but may be re-elected. All nominated or co-opted trustees must rètire from office at th8 third annual general meeting following the ordinary meeting of the Trustee Board at which they were appointed but May be reelected. The Trustee Board determines the pay and r8muneration of key management P8rsonnel and staff based on the pay for similar roles in comparable organisations, the general rate of inflation and affordability. The charity promotes equal pay for work of equal valu8 irrespective of gender or other personal factors. Organisational Chart.- March 2024 Zo•Br E1 (1I•gn Wnlig Dspthyops Lvn4lni Hl¢ks Booty Ollv•rC4w¥• PlhnJn Ad¥ki 81s>lD Outr•ioh PNAy.Wi* Trustee Recruitment and Trainin Trustees are recruited from member organisations andlor for the specific skills that they can bring to the Charity. There is a trustee induction process and new trustees visit Citizens Advice Bournemouth Christchurch and Poole enabling them to engage in and fully undèrstand the opèrational working5 of lh& charity. New trustees undertake relevant training in relation to the Citizens Advice Bournemouth christchurch and Poole affairs, operations and duties of a Injslee. Inoluded in the ongoing training programs, are visits to the offIS ensuring they engage regularly with the Project and Core Delivery teams.
Citizens Advice Bournemouth, Christchurch and Poole Trustees, Annual Report (Including Dir8ctors' Report) Year Ended 31 March 2024 Princi al risks and uncertainties The Trustee Board actively review on a regular basis. the risks to which the charity is exposed. The major risks being strategic, compliance, financial, operational and markevenvironmental risks. A Risk Register for the charity has been agreed by the Board- this defines the risks to the organisation. their likelihood, their effect and mitigation plans. The Trustees are satisfied that systems have been established to enable regular reports to be produced so that they can monitor such risks and, where necessary, steps can be taken to mitigate exposure thereto. The principal risk is the uncertainty of future funding. The management team continue to look for newfunding streams and opportunities to collaborate with others to develop new projects. Ongoing funding applications are monitored closely by the Trustees, logether with the associated staff levels, so as to maintain sufficient reserves to meet the obligations of the organisation in the event that no future funding is secured. Further monitoring of cashflow against budgets is undertaken to ensure that there is adequate cash flow to Meet day to day running costs. Another material risk is the loss of staffing within the key mles of the charity- To mitigate this risk. roles and skills are shared wrthin the team and staff developmentllraining provided to develop the team's skills Where shortages have been found, these have been addressed by vacancies being fulfilled internally or via the assistance of volunteers. Public Benefit TheTrustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the chartty's aims and objectives and in planning its future activities. They do not consider that the charity's activities include any potential detriment or harm or confer any significant incidental privatè benefit. Affiliations Citizens Advice Bournemouth Christchurch and Poole is a member of The National Association of Citizens Advicè and is required to comply with the regulations provided by this umbrella organisation. Fundraisin activities The Charity has had no significant fundraising activities and costs in the year. During the year under review, the Charity did not re1ve any complaints about the fundraising activities it carried out. It is the Trustees. policy that all Service users as well as members of the public are protected from unreasonable intrusion into their privacy or unacceptable approaches in procuring funds. The charity does not use professional fundraising entities. Objectives and Activities Ob'ectives The objects of the charity are to promote any charitable purpose for the benefit of the community. mainly. but not exclusively. in the area covered by the Unitary Council of Bournemouth, Christchurch and Poole or any successor body to them. by the advancement of education, the protection and preservation of health. and the relief of poverty, sickness and distress. In setting objectives and planning activities the trustees have given carefvl consideration to the Charity Commi55ion'5 public benefit guidance. The principal charitable object of the company is to establish and conduct a free, independent. confidential and impartial service of advice, information and counsel for the benefit of the community and the general public within mainly but not exclusively the area covered by the Unitary Council of Bournemoulh, Christchurch and Poole. Another objective of the charity is to improve the policies and practices that impact utM)n people's lives.
Citizens Advice Bournemouth, Christchurch and Poolo Trustees, Annual Report (Including Directors, Report) Year Ended 31 March 2024 The Trustees achieve the above aims by following the National Citizens Advice guidelines through- The negotiation and raising of funding agreements with the local council and various other private and public bodies. The training and development of a diverse range of volunteers and staff ensuring equalopportunities for The management of financial operations annually against budget and also against a 3 year strategic plan. Activities The Charity is helped to meet its overall aims of providing advice to alleviate the problems people face, by operating spècrfi¢ material projects and services. During the year under review all these operations assisted Citizens Advice Bournemouth, Christchurch and Poole lo rise to the challenge of meeting continuing increases in demand for its services, due mainly to the ¢urrentaconomic environment. Delivery ofdebt advice thin the Charity is authorised and regulated by the Financial Conduct Authority FRN.. 617515. General Advice Service- Funded by BCP Council General advic8 SUPPOrt for Boumemouth, Christchurch and Poole residents, providing free advice on a range of issues including, but not limited to debt management. immigration. consumer issues, relationships and benefit claims. The funding also enables the delivery of remote advice via our Urban Advice Vehicle. Water Guru - Funded by Wessex Water & South West Watar Support for clients who are irs financial hardship accéss social tariffs, reduced rates and grants form both Wessex Water and South West Water. Debt Advice Project - Sub-grant agreement with national Citizens Advice - Funded by The Money and Penslons Service Support and guidance for Bournemouth, Christchurch and Poole residents facing financial dfficulty with debt, insolvency, write offs or negotiations. Pension Wise - surant agreement wlth natlonal Citizens Advice via Citizens Advica Plymouth - Funded by The Money and Pensions Service Free pension guidance for people across Dorset aged 50 and over who have a defined contribution pension. Let's Talk Money - Funded by J.P. Morgan Chase Foundation Tailored advice and guided solutions for BCP residents lo improve financial resilience, money management skills and general wellbeing. Macmillan Specialist Benefft Sèrvice - Funded by Macmillan Cancer Support Holistic advice service, particularly involving benefits, for those affected by cancer who live, work or ts1ve treatment in Bournemouth or Poole. Specialist Benefit Support - Funded by Macmillan Caring Locally based at Christchurch Hospital Specialist benefits advice and guidance to Christchurch Hospital patients. ensuring those who have cancer or relatives of those affected are receiving to what they are entitled. Cherry Tree Nursery Outreach - Funded by Cherry Tree Nursery, a sheltered work project based on horticulture that provldes meaningful work in a supportive envlronment, aimlng to restoro well-being to people wlth mental illness. Holistic advic8 service, particularly involving benefits and disability rights, for volunteers with complex needs workinq at the nursery. Citlzens Advlce Central Dorset in partnership wlth Kushti Bok and funded by the National Lottery Community Fund - The Dorset Gypsy Roma and Traveller Project Advocacy project targeted at the Gypsy Roma and Traveller communities across Dorset, to provide infomiation and support lo break the down the barriers to which the community may face lo access support.
Citizens Advice Bournemouth, Christchurch and Poole Trustees, Annual Report {Including Directors, Report) Year Endad 31 March 2024 Flnancial Wellbeing Advice Service & Financial Wellbeing Support Servlce- Funded by BCP Council Housing Services and BCP Council Adult Commissioning Support for single adults or couples who present as homeless or at risk of homelessness and have a local connection to Bournemouth, Christchurch and Poole and support for adults residing in or who may have been discharged from specialist mental health services, providing guidance and support to enable people to manage current crisis and ongoing financial related issues independently. Help Accessing Legal Support {HALS) - Sub-grant agreement with Citizens advice Central Dorset - Funded by the Access to Justice Foundation Litigant in person family casework support for people who may already be engaged in legal proceedings or have issues that could lead to legal proceedings Based in Bournemouth Crown and County Court. the Family Caseworker cannot represent clients at court but can act as a Mackenzie friend. EU Settlement Scheme (EUSS) - Funded by the Home Office Support service assisting those wishing to apply to the EU Settlement Scheme (settled and pfe-settled 5tatus)- Extended support to enable continued processing of eligible late applications and support for clients who already have pre-setued status and applying for settled status. Independent Age - Targeted support for residents of pensionable age Specialist benefits advi* targeted at those aged 66 years old and older, in response to the rising number of those state pension age facing financial hardship from the cost-of-living crisis. JP Morgan Increased Capa¢ity- Adapt & Thrive Funding which enabled an increase in the charity's capacity to support the community in building resilience to navigate the cost-of-living crisis and the associated iSSLtes, through the enhancement of debt, specialist benefit advice and general advice provision across the conurbation. Mediation Dorset- Communlty Advocacy for the provislon of Equity, Diversity and Inclusion Community Advocacy project lo support and represent vulnerable Pan-Dorset communits'es, providing advice and guidance to communities and individuals who have experienced and may continue to experience social discrimination. R3 Welfare - Funded by BCP Council through the Additional Restrictlons Grant Stream 3 R3 Grant Scheme Collaborative project, delivered on behalf of BCP'S R3 Welfare Group to support and develop access lo opportunities that promote increased economic growth across the BPC conurbation by raising awareness of activities to support unemployed. underernploy and employed residents with skills development and access to specialist services. Funding ended March 2022. Immigration Advice Project- Funded by The National Lottery Community Fund Funding for 3-years to train and develop two full-tirne Immigralion Caseworkers to achieve offi of the Immigration Services Commissioner ('OISC'I Level 2 accredltation, and to furtherdevelop a clear Immigration Advice Model for both Initial Advice and Casework delivered across the service and via monthly drop-in Immigration Clinics. National Lottery Community Organi5ations Cost of Living Fund- Let's Talk Renting A dedicated telephone and email service providing housing advice to those tenants in the Private Rerited sector. in collaboration with BCP Homelessness Partnership. The service aims to eliminate risks lo tenancies, by providing advi on rent arrear5, evictions, and repairs, while also providing income maximisation advice. Specialist Debt and Complex Benefits Advice - Funded by Sovereign Housing Association Debt and complex benefit advic6 to tenants who are struggling to maintain thèir tenancy due to unmanageable debt.
Citizens Advice Bournemouth. Christchurch and Pool• Trustees, Annual Report (Including Directors, Report) Year Ended 31 March 2024 Immigration Clinic Funded by Dorset Community Foundation and the ASDA Foundation In 202212023 and Dorset Community Foundation on behatf of Wessex Water Community Foundation in 202312024 Funding to provide a drop-in immigration service providing 15-minute initial advice sessions and signposting for clients for clients across Dorset requiring immigration advice. Seetec Pluss - Specialist Face-to-Face Advice Services Funding lo provide in-office support for custorners of Seetec Pluss in Bournemouth and Poole. to support clents overcoming Financial. Debt and Benefits Advice {FDBA) barriers to employability. Street Support Remaining funds held in respect of connecting people and organisations locally. to alleviate homelessness in Boumemouth, Christchurch and Poole. Specialist Benefit Appeals Project- Funded by Christchurch Magdalen Trust Funding to deliver specialist benefit advice, support and guidan for Christchurch residents. Smart Energy GB in Communities- Funded by The National Energy Action Charity Th8 project aims to help build awareness and increase confidence in smart meters, enabling those on low incomes to understand how smart meters can benefit them in managing their energy bills. Household Support Fund - Funded by BCP Council Support sérvice for low-in¢ome residents of BCP providing access to grants to enable affordability of energylLJtilities andlor access to food. Grant Making Methodology During the year under review, the Charity had a key role in: 1. the distribution lo the residents within the BCP conurbation and for the management and delivery of vouchers to individuals through Winter Wannth, Summer Support and Household Support Fund programmes under policy set by BCP Council. 2. idenlfying key recipients and adhering to laid down criteria for eligibility and auditing requirements from BCP Council 3. providing support and advice enabling individuals to receive support vouchers and understand the terms and conditions of their SUPPOft. Where We Can Call Home- Funded by the Heritage Lottery Fund Deltvery of an awareness-raising campaign project, delivered in partnership with DEED. a global education and learning ntre in Dorset. Researchers and story gatherers work with local Bournemouth. Christchurch and Poole communitie5 to explore. record and lebrate the contribution of residents from ethnically diverse communities, including Eastern Europe, the Middle East. South America, South East Asia and Africa. Achievements and Perfomiance During the year ended 31 March 2024. the Charity helped over 15,980 people. conducted 1,825 quick client contacts and dealt WFth over 50.000 issues. Over 4 in 5 clients supported said the Charity helped them find a way forward with outcomes. including income gain for clients totalling over £6.437,335. Using a Treasury-approved model. the estimated overall financial value of the work undertaken by the Charty for thé pèoplè Ih6y help totsllèd over £1 J,JOO.000 and the estimated overall financial value lo the public, through advice and volunteering services totalled over £42,800,000. For every £1 invested in the Charity. the public value of our work is estimated at over £25.
Citizens Advice Bournemouth, Christchurch and Poole Trustèès, Annual Report (Including Directors, Report) Year Endod 31 March 2024 During the year under review, the Charity continued to engage with most clients via digital and phone channels. Channel % of total count of cases along channel 60/. Activities Email Telephone In person Letter Other. inc. Web chat and Video call 32.517 12,312 8,664 532 471 22% 160/0 1/0 10/. Throughout the year the Charity saw increases in client issues across 12 of the 18 presenting issue areas it records. The most significant increases were recorded against Charitable Support & Foodbanks, Debt, Employment and GVA and Hate Crime. The following table highlights the issues dealt with as a percentage of total issues during the year under review. Comparison to the preceding three years has also been included for information and analysis. Issuo 2023- 2024 2022- 2023 2021- 2022 2021 2021 7.20% 2019- 2020 1 .900/0 Charitable Support & Food Banks Benèfits & tax credits 13.900/0 14.00% Financial services & capability Housing Debt 9.000/0 7.200/0 6.90 /. 8.10% 6.00% 10.900/0 Benefits Universal Credit 3.20 % 3.40Yo 7.30 % Relationships & family Legal Utilities & communications 2.80% 3.10% 4.40 % 3.30V 5.500 3.400/0 3.00% 4.100 2.500 4.30 % 2.00 / 2.30 % 1.40% 1.000/0 1.20/0 Employment Immigration & asylum Consumer goods & services Travel & transpott GVA & Hate Crime 2.30 /0 2.30°10 3.80Yo 6.70, 7.50 % 4.70D/. 4.40'/0 4.60V. 1.70% 1.30% 1.80% 2.100/0 3.90D 0.800 0.600 0.70° 0.600 0.90 /0 1.00/0 0.600 0.60Yo 0.500 0.70Yo Health & comtnunity care Other 0.70% 0.60° 0.60% 0.60° 1.00¥0 0.50% 0.50 /. 0.40 % 0.90 % 0.40 % Tax 0.80% 0.400 1.80W. Education 0.20 % Ill 0.100 0.100/, 0.30¥0 The senior management team and trustees continue lo monitor client enquiries and areas of work to ensure Charity reSoUrS ar8 appropriately allocated. In addition, client feedback continues to be sought which provides information about methods of contact, waiting times and levels of satisfaction in relation to Ihe advice offered.
Citizens Advice Bournemouth, Christchurch and Poole Trustees, Annual Report (Including Directors, Report) Year Ended 31 March 2024 Volunteers Operational 3Ctivities are supported to a significant extent by a team of unpaid volunteers, either acting as trained advisers or providing additional clerical and administrative support. Without Ihe assistance of such volunteers, It would not be possible for us to provide the ran9e of services currently made available to Clients. A total of 125 volunteers (excluding Trustees) supported the delivery of the Charity's objectives and activities during the year under review, providing over 14.980 hours of service to the charity. The Trustee Directors On again wish to express their appreciation of the invaluable contribution made by the volunteers during the year under review. Plans for future eriods. We will continue to provide our free. independent and impartial general advice service and will look for new ways to provide more in depth support to those with more complex problems. Financial review The financial statements of the company for the year ended 31 March 2024 are as set out on pages 17 to 33. The financial statemenls are presented in accordance with the Companies Act 2006 and A¢counting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicablè in the UK and Ireland (FRS102) issued in October 2019. During the year, the contractual nature of the Charity's responsibilities with respect to the administration of Household Support Fund grants was clarified and it was determined that the charity was acting as an agent to BCP Council in this matter, not as principal. As a result, accounting for this activity has been changed for the year 2023124 and the comparator year of 2022123 has been restated (see Note 2 to the accounts for details). Total income for the year endèd 31 March 2024 was £1,736,72712023 Rèststed: £1,509,337) and total expenditure was £1,652,662 (2023 Reslaled.. £1,487,275), resulting in a surplus for the year of £99,463 12023: £22,062). Total charity funds on 31 March 2024 were £491,415 (2023.. £391,952). The level of free reserves held in general funds as of 31 March 2024 stood at £116,68612023'. £57,700). The level of free reserves held in the Designated Core Continuity Fund, stood at £350,000 (2023: £298,318) as of 31 March 2024. Restricted funds totalled £24,729 (2023: £34,252> as of 31 March 2024. Fundin The charity receives funding from a variety of public and private bodies, usually to cover the Charity's delivery costs for commitments lo provide specific advice services to the public locally. The largest funding body during the financial year was Ihe Bournemouth, Christchurch and Poole (BCP) local authorty, for the provision of general advica to the public on diverse matters, including money management and employmenl matters. Th8 Charity also administered distribution of ntral governfflent cost of living support fijnding on behalf of BCP Council. Other significant funders inclLAded J. P. Morgan for the provision of debt management advice, the GontraGt for which Completed in June 2024. In 2022123, the pattern of funding was similar to 2023124, with the largest funders being BCP Council and J. P. Morgan At the beginning of the current financial year. BCP Council announced that it intended to openly t6nder for the provision of general and financial wellbeing advice services. effective from September 2023 and running until April 2028. Part of the conditions of the tender required the acceptance of a material discoijnt on current tunding levels. I he Lharity has participated in the tender and was SucsSIu1 in all ot its bids. Operating plans have been put in place lo enable the work of the charity to go forward, adjusting for the substantial reduction in financial support from its principal funder. During 2023124 the charity was successful in achieving material tranches of new funding from both J.P. Morgan and the National Lottery. 10
Citizons Advice Bournemouth, Christchurch and Poole Trustees, Annual Report (Including Directors, Report) Year Ended 31 March 2024 Reserves Polic The Trustees review the reserves policy on an annual basis to ensure that the organisation can operate as a going conrn and fulfil its legal obligations. The balance carried forward on the General Fund represents unrestricted funds that are freely available to fund the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the Trustees for a particular purpose. The designated Core Continuity Fund has been set by the Trustees at a level equivalent to 3 months. charitable expenditure. which would enable the closure costs of the charity to be met. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the chartty for a particular purpose. Investments Polic In order lo achieve a real return over the medium term, the Trustees have approved the investment of designated funds in a pooled investment fund managed by Quilter Cheviot. In selecting Quilter Cheviot as the investment manager. the Trustees took into account that. whilst the fund selected is not specrfically restricted as an "ethical investment" fund, it is specifically designed and maintained as a portfolio suitable for charilies and avoids direct investment in potentially controversial market sectors such as tobacco or weapons production. The trustees consider this an appropriate balance beeen the need for optimising return on invested funds and the risk of adverse exposure to investment in controversial market sectors Research Cam rls and Communications Conducting research and undertaking Campaigns is essential for the ongoing improvement of services that benefit the lives of Bournemouth Christchurch and Poole residents. Our advisors help clients with the problems that they face al time critical points. Conducting research and engaging in campaign actrvities allows us to lake this one step further. Using the evidence collected, trends can be recognised that allows us lo tackle clients, problerns at the root cause and work in a way that is preventative. This is beneficial in terms of our own time and resources, but also allows us to help to make the conurbation of Bournemouth, Christchurch and Poole a fairer and more inclusive community. A strong and established research and campaign strategy can therefore help to improve lives. In order to facilitate the achievement of this core aim. the Tnjstee Board has a Research, Campaigns and Communications committee, which includes three Twstees, with responsibilityfor Research and Campaigns, and ¥Nhose task it is to raise the level and impact of the work undertaken by Citizens Advice Boumemoulh Christchurch and Poole and maintain Trustee Board input into this important aspect of our work. In 202312024 our research and campaign work continued to be influenced by the emerging cost of living crisis, such as the affordability of energy, and the increasing costs related to affordable food access. During the year, the predominant issues presented by clients were related to financial insecurity. including access to charitable grants and access lo food, alongside support with access to benefits. Throughout the year a number of research and campaign activities were undertaken to highlight the struggles faced by residents of Bournemouth, Christchurch and Poole. Trustees, Responsibilities The trustees (who are also directors of the charitable company for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounling Practice) Company law requires the tnjstees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial Statements unless they are satisfied that they qive a true and fair view of the stale of affairs of the charitable Company and of the incoming resources and application of resources. including the income and expenditure of the charitable cornpany for that period.
Cltizens Advice Boumemouth, Christchurch and Poole Trustees, Annual Report {Including Directors, Report> Yfrar Ended 31 March 2024 In preparing these financial statements, the trustees are required to= select suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP (Statement of Recommended Practice) 2019 {FRS102). make judgements and estimates that are reasonable and prudenl. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable Company will continue in operation. The twstees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them lo ensure that the flnancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence taking reasonable steps for the prevention and detection of fraud and other irregulartties. As far as the trustees are aware.. there is no relevant audit information of which the charitable company's auditor is unaware. and the trustees havè taken all st&ps that they ought lo have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that inforniation. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Signed on behalf of the board of Trustees.. Jane Burrows, Trustee (Trust8e Board Chair) Paul Kemp, Trustee (Treasurer) This if day of August 2024 12
Independent Auditor's Report to the Members of Citizens Advice Bournemouth, Christchurch and Poole Opinion We have audited the financial statèments of Citizens Advi Bournemouth, Christchurch and Poole (the 'charilable company'} for the year ended 31 March 2024 which Comprise the statement of financial activilies, the balance sheet, the cash flow statement and notes to the financial stalemenls, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Uniled Kingdom Accounting Standards. induding Financial Reporlirig Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praclicel. 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 2024. and of its incotning resources and application of resources, including its income and expenditure, for the year then ended-, have been properly prepared in accordan with United Kingdom Generally Accepted Accounting Practice", and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnlon We conducled 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 Auditorfs responsibilities for the audit of the financial statements sèction of our report. We are independent of the charitable company in accordance with the ethical requirements that are re18vant 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 obtsined is sufficient ar¢d appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, us8 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 condilions 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 concem are described in the relevant sections of this report. Other Information The other information comprises the information included in the trustees annual report, other than the finanGial statements and our auditor's report thereon. The truslees are responsible for the other inforrnation contained within the Trustees 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 identfy such material inconsistencies or apparent material misstatements, we are required to determine whether Ihis gives rise to a material misstatement in the financial statetnents 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 lo report in Ihis regard. Opinions on other rnatters 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 (incorporating the Directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements., and the Directors, report has been prepared in accordance with applicable legal requirements. 13
Independent Auditor's Report to the Members of Citizens Advice Bournemouth, Christchurch and Poole Matters on whlch we are required to report by axception In the light of the knowledge and understanding of the chantable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors, Réport. 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 rf, in our opinion: adequate 2ccounting records have not been kept, or rettjrns adequate for our audit have not been received frotn branches not visited by us,. or the financial statements are not in agreement with the accounting records and returns.. or certain disclosures of Directors, 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 entFtled to prepare the financial statements in accordance with the small companies. regime and take advantage of the small companies. exemptions in preparing the Directors, report and from the requirement to piepare a strategic report. Responsibilitie5 of trustees As explained rn0 fully in the trustees, responsibilities statement set out on pages 11 and 12. 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 nesSary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial slatemenis. the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matt6rs related to going concern and using thè going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to ase operations. or have no realistic alternative but lo do so. Auditorfs 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 deted a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slalements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, ouuined above, lo detect material rnisstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detsiled below.. An understanding of the legal and regulatory frafnework the charitable cotnpany operates in was obtained through discussions with the TSteeS and other management in addilion to our general sector experience. The most significant laws and regulations identffied, being those that have a direct effect on material amounts and disclosures in the financial staternents, are the Accounting and Reporting by Charities: Statement of Recommended Practice {FRS 102) issued in October 2019, FRS 102, Companies Act 2006, Charities Act 2011 and HM Revenue & Customs (HMRC) Tax Legislation. We also considered other laws and regulations that do not have a dire¢t effect on the finanGial statements but cofflplianGe with whiGh may be fundamental to the company's ability to operate. or to avoid material penalty. These included the requirements of the national citizens advice regulations, and employment law. We evaluated man2gemenVs i.ntiveS and opportunities for fraudulent manipulation of the financlal stalernents (including the risk of override of controls} and determined that the principal risks 14
Independent Auditor's Report to the Members of Citizens Advice Bournemouth. Christchurch and Poole related to the fraudulent financial reporting. in particular of grant funding received and allocation of central costs to restricted funds. Audit procedur8s were performed by the engag&ment team to- obtain sufficient evidence regarding Compliance. These procedures include making enquiries to Trustees and othér management in addition lo the inspection of applicable regulatory and legal correspondence. Financial statement disclosures were reviewed and tested to supporting documentalion-, identify and assess the design effectiveness of controls management ha5 Put in place to prevent and detect fraud. The company's systems and controls were documented and confirmed., challenge the assumptions and judgments made by management in its significant accounting estimates and identify and t8sI journal entries, in particular any joumal entries posted with unusual account combinations assess the extent of compliance with the relevant laws and regulations We have properly planned and performed the audit in accordance with auditing standards and all member5 of the engagement team have the appropriate competence 8nd capabilities to identlfy or recognise non-compliancè with laws and regulations. However, due lo the inherent limitations of an audit. there Is a risk that we will not delecl all irregularities, including those leading lo 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 ev8nts 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 rn isrepresentation. As part of an audit in accordance with ISAS (UK). we exercise professional judgment and maintain professional scepticism throughoul the audit. We also.. Identify and assess the risks of malerial misstatement of the financial statement5, whether due to fraud or error. design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not delecling a material misslalement resulting from fraud is higher than for one resulting from error. as fraud may involve collusion. forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, bul not for the purpose of expressing an opinion on the effectiveness of the charitable company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a malerial uncertainty exists related lo events or conditions that may cast significanl doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required lo draw attention in our auditor's report to the related disclosu$ in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future evénts or conditions may Cause the charitable company to cease to continue as a going COnrn. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presenlation {i.e. gives a true and fair view). 15
Independent Auditor's Report to the Members of Citizens Advice Bournemouth, Christchurch and Poole We communicate with those charged with governance regarding, among other matters. the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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 Cornpanies Act 2006. Our audit work has been undertaken so that we might state to the charitable company'5 members those matters we are required to state lo them in an auditor's report and for no other purpose. To the fu est extent permitted by law, we do not accept or assume responsibility lo anyone other than the ritable company and the charitable company's members as a body, for our audit work, for this repo r for the opinions we have formed. J SGho ield FCA (Senior Statutory Auditor) Signed For and on behalf of SGhofields CharteTrd AGcountants and Statutory Auditors 5th Floor Wavertey House 115-119 Holdenhurst Road Bournemouth BH8 8DY I{ *Ylugust 2024 16
Citizens Advice Bournemouth, Christchurch and Poole Stat8m8nt of Financial Activities {Includlng Incom8 and Expenditure Account) Year Ended 31 March 2024 2024 2023 Unrestricted funds Restated General fund5 Desunated nds Restricted hJnds Total Total Note Income and endowments from: Donations and legacies 113,102 700 113,802 87,522 Charitable activities 292.053 1.315.490 1.607.543 1,412,865 Other trading activities Investments 259 15.123 259 15,123 3.500 5,450 Total income and endowments 420,537 1.316.190 1,736,727 1,509,337 Expenditure on: Charitable activities 7 {204,814) (1,447,848) {1,652,6621 (1,487,275) Total expenditure {204,814) (1,447.848) 11.652.662) (1,487,275) Net gain on investments 15,398 15.398 Net incomel (expendlture) 231,121 1131,658) 99,463 22.062 Transfers betwéen funds (172,135) 50,000 122,135 Net movement in funds 58,986 50.000 (9,5231 99,463 22,062 Reconciliation of funds". Total funds brought fotward 57,700 300,000 34,252 391,952 369.890 Total funds carried fotward 116.686 350.000 24,729 491,415 391,952 All income and expenditure derive from continuing activities. The statement of financial activities indudes all gains and losses recognised during the year. Notes 1 to 27 fomi part of Ihese financial statements. 17
Citizens Advico Bournemouth. Christchurch and Poole Balance Sheet Year Ended 31 March 2024 2024 2023 Restated Note Fixed assets Tangible assets 14 24,122 35,785 24,122 35.785 Investments 15 365,707 Current assets Debtors Cash al bank and in hand 16 61,288 285,837 69,948 425.663 347.125 495,611 Creditors: amounts falllng due within one year 17 1245,539) {139,444) Net currant assets 101,586 356,167 Total assets le8s current liabilities 491,415 391,952 Nat assets 491,415 391,952 Charity Funds Restricted funds Unrestricted funds Designated funds 20a 20b 20b 24,729 116,686 350,000 34.252 57,700 300,000 Total chaflty funds 491,415 391,952 These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006. The financial slatements were approved and authorised for issue by the Board on ( August 2024 Signed on behalf of the board of trustees= Jane Burrows, Trustee (Trustee Board Chair) Paul Kemp, Trustee (Treasurer) Date: J S. August 2024 Notes 1 to 27 form part of Ih8se financial statements. Company registration number.. 03537836 18
Citizens Advice Bournemouth. Christchurch and Poole Cash Flow Ststement Year Ended 31 March 2024 2024 2023 As Restated Net cash flow from operating activitles (see note bolow) 195,360 (151.744) Cash flow from Investlng activities Purchase of investments Interest received {350,000) 15.123 5,450 Net cash flow from investing actlvitles (334,877) 5,450 Net decrease in cash and cash equivalents (139,517) {146,294) Cash and cash equivalents at the beginning of the reporting period 425.663 571.957 Cash and cash equivalents at end the and of the reporting period 286,146 425,663 Reconclliation of net Income to net cash flow from operatlng activities Net income for the year Interest receivable Gain on investments Depre¢bation of tangible fixed assets Decrease I (increase) in debtors Increase l (decrease) in credilors 99,463 {15.123) (15,398) 11,663 8,660 106,095 22.062 15,450) 11,663 {14,707) 1165,312) Net cash flow from operating activities 195,360 (151,744) Cash and cash equivalents conslsts of: Cash at bank and in hand Short term deposits 285,837 309 169,595 256,068 Total Cash and cash equivalents 286,146 425,663 Notes 1 to 27 form part of these financial statèmenÉs. 19
Citizens Advice Bournemouth. Christchurch and Poole Notes to the Financial Statements Year Ended 31 March 2024 Summary of significant accounting policias (a) General information and basis of preparation Cilizens Advice Bournemouth, ChTlStchurch and Poole 15 a private company limited by guarantee in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 3 of ihese financial statements. The nature of the charity's operations and principal activities are set out in the Trustees, Annual Report. The charty constilutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practi applicable to Gharilies preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102), the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial staternents are prepared on a going concern basis under the historical cost convention. modified to include certain items at falr value. The financial statements are presented in sterling which is the functional currency of the charity- The significant accounting policies applied in the preparation of Éhese financial statements are set out below. These policies have been consistently applied lo all years presented unless otherwise stated. (b) Funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the Trustees, Annual Report. Restricted funds are funds which are to be used in accordance with specific tsstrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and adminislering such funds are charged against the specific fund. The aim and Ltse of each restricted fund is set out in the Trustees. Annual Report. (c) Income recognition All incomirrg resources are included in the Statement of Financial Activilies (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the afflount can be measured reliably and it is probable that the income will be recerved. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Gharity and it is probable that they will be fulfilled. Donated facilities are recognised in income at their fair value when their economic benefit is probable, it can be ffleasured reliably and the charity has control over the item. Fair value is detemiined on the basis of the value of the gtft to the charity- For example, the amount the charily would be willing to pay in the open market for such facilities and services. A corresponding amount Is recognised in expenditure. For legacies. entitlement is the earlier of the charity being notffied of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it Is not possible to measure the amount expected to be distributed. On these occasions, the legary is treated as a contingent asset and disclosed. 20
Citizens Advice Bournemouth, Christchurch and Poole Notes to the Financial Statements Year Ended 31 March 2024 (c) Income r8cognltlon (continued) No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees, Annual Report. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met. it is probable that the iricome will be received and the amount can be measured reliably. If entitlemenl is not met, then these arnounts are deferred. (d) Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to rnake payments to third parties, it is probable that the settlement will be required. and the amounl of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against Ihe activity for which expenditure arose. Grants payable to Ihird parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the r&cipi8nt is notsfied of th8 granL as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then thè grant 15 only accrued when any unfulfilled Conditions are outside of the control of the charity. (e) Support costs allocation Support costs are those that assist the work of the charity bul do not directly represent charitable activities and include expenditure on governance, general administration, finance, human resources. and information technology. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out centrally. The support costs are apportioned between activities on a basis consistent with the use of resources. The analysis of these costs is set out in note 8. (fj Tangible fixed assets Tangible fixed assets costing more than £5,000 are capttalised at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets. at rates calculated to write off the cost, less estimaled residual value, of each asset on a systematic basis over its expected usefvl life as follows.. Computer hardware and software Fixtures and fittings Motor vehicles Straight line over 4 years Straight line over 5 years Straight line over 5 years (g) Investments Investments are recognised initially at fair value which is normally the transaction price exduding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains l (lossosl on invcstmonts, in tho SOFA. Tho fair valuo of listed invcstments is determined by reference to the closing quoted market price at the balance sheet dat8. (h) Debtors and creditors receivable I payable within one year Debtors and Creditors with no stated interest rate and feceivable or payable within one year are recorded at transaction price. Any losses arising from impairnient are recognis6d in expenditure. 21
Citizens Advice Bournemouth, Christchurch and Poole Notes to the Financial Statements Year Ended 31 March 2024 (i) Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks and other short term liquicl investments with original malurilies of one month or less. ti) Financial instruments The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instrutnents are initially recognised at transaction value and subsequently remeasured at their settlement value except for loans which are subsequendy measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a consistent rate using the effective interest method. (k) Leases Rentals payable under operating leases are charged to the SOFA on a straight line basis over the pertod of the lease. (l) Employee benefits The cost of any untaken holiday entlernent is not recogni5ed. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination beneffts. (m) Retirement beneflts The charity operates a defined contribution scheme for the benefit of its employees. Contributions are exnsed as they become payable. {n) Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. (o) Going concern The financial statements have been prepared on a going concem basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expendilure are sufficient with the level of reserves for the charity to be able to continue as a going concern. {p) Judgements and key sources of estimation uncertainty In preparing the financial statements, the trustees are required to make estimates and assumptions which affect reported income, expenses. assets and liabilities together with the disclosure of contingent assets and liabilities. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. In the view of the Trustees, there are no significant areas of key judgement or estifflation uncertainty that are likely to result in a material adjustment in the next financial year.
Citizens Advice Bournemouth, Christchurch and Poole Notes to the Financial Statements Year Ended 31 March 2024 Prior Year Adjustment The firjanoial statements for the comparative period have been restated following clarification from the funder that the charity has been acting as agent for Bournemouth. Christchurch and Poole Council in distributing Government Household Support Fund grants lo eligible individuals. The impact on the Statement of Financial Activities has been to redLJce charitable incoffle on restricted projects by £1.208,744 and charitable expenditure on restricted projects by an equivalent amount. Net income for 2023 remains unchanged al £22.062. The impact on the Balance Sheet at 31 March 2023 has been to exclude £202,000 of cash and bank balances held by the charity as custodian. de-recognise accruals fDr grants payable of £92,344 and reduce deferred income by £109,656. Charityfunds and net assets at 31 March 2023 remain unchanged at £391,952. Income from donations and legaGieS 2024 2023 Voluntary donations Legacies Donated facilities 2,802 26,000 85,000 2,522 85,000 113,802 87,522 Donated facilities comprise office accommodation provided by Boumemouth, Christchurch and Poole Council Income from donations and legacies totalled £113,802 (2023.- £87,522), of which £113,10212023= £85,702) was attributab18 to unrestricted funds and £700 (2023.. £1,820) was attrlbutable to restricted funds. Income from charitable activities 2024 2023 Restated Grants - Core service delivery 292,053 301,643 Grants and contracts - Restricted projects 1,315,490 1,111.222 1,607,543 1,412,865 Income from charitable activities was £1.607,543 {2023- £1.412,865}. of which £292,053 (2023.- £301,643) was attributable to unrestricted funds and £1,315,490 (2023.. £1,111,222) was attributable lo restricted funds. Government grants included within income from charitable activities totalled £564,08012023-. £725,369) 23
Citizens Advice Bournemouth. Chrlstchurch and Poole Notes to the Financial Statements Year Ended 31 March 2024 Income from other trading activitias 2024 2023 Other miscellaneous income 259 3,500 All miscellaneous income for the years ended 31 March 2024 and 31 March 2023 was unrestricted. Income from investments 2024 2023 Interest- bank deposits 15,123 5,450 l income from investments for the years ended 31 March 2024 and 31 March 2023 was unrestricted. Analysis of expenditure on charitablé activities Charitable activities 2024 Acuwlles undertakan GrantfvndlTrJ of a¢tieS Support costs Total direcly 2024 2024 2024 2024 Core service delivery Restricted projects 754,097 1,096,095 50,717 326,277 204.814 1,447.848 25,476 1,250,192 25,476 376.994 1,652,662 Charitable activities 2023 Activities urNlertaken Grant fundlng of activiUe8 Support costs Total dlr8cIIy 2023 Restated 2023 Restated 2023 Restated 2023 Rèslated Core service delivery Restrt¢ted projects 213,774 781,496 122,008 236,319 335,782 1,151.493 133,678 995,270 133,678 358,327 1.487,275 Charitable activity costs totalled £1,652.662 (2023: £1,487,275) of which £204,81412023: £335,782) were attributable to unrestricted funds and £1,447,848 {2023". £1,151,493) were attributsble to restricted fvnds. 24
Citizens Advice Bournemouth, Christchurch and Poole Notes to the Financial Statements Year Endad 31 March 2024 Allo&ition of support costs Support costs representing expenditure on governan, general administration, finance, human resources and information technology have been allocated on the basis of time expended as follows- Core Service delivery 2024 Restrictsd projects Totsl Core service delivery 2023 Reslricted projects Tolal 2024 2024 2023 2023 Salaries 20,898 134.438 155,336 48,879 94,674 143.553 Staff and volunteer 1,179 7,587 8,766 1.377 2,697 4,074 Office 16,513 106.236 122,749 40,073 77,620 117.693 Premises 10,953 70,462 81.415 29,672 57,472 87,144 Governance 1.151 7,407 8.558 1,838 3.529 5,367 Other 23 147 170 169 327 496 Total 50,717 326,277 376,994 122,008 236,319 358,327 Grants paid 2024 2023 Restated Restricted projects: Household Support- grants paid to institutions- Hope Housing Household Support- grants paid to institutions - Age UK Household Support- grants paid to instrtutions- EDP Citizens Advice Where we can call home- grants paid to institutions- DEED, Dorsel 28,600 23.000 76,000 6,078 25,476 25,476 133,678 10 Governance costs 2024 2023 Trustee expenses Fees payable to the charity's auditor for the audit of the charivs annual accounts Legal fees AGM. trustee meetings and other compliance 15 5,160 1,310 2,089 8,559 4.980 372 5,367 11 Net income l (expenditure) for the yoar Net income l (expenditure) is stated after charging,. 2024 2023 Depreciation of tangible fixed assets Operating lease rentals 11,663 3,643 11,663 2,706 25
Citizens Advice Bournemouth, Christchurch and Poole Notes to the Financial Statements Year Ended 31 March 2024 12 Trustees, and key management personnel rernuneratlon and expenses The Trustees neither received nor waived any remuneration during the year {2023-. £nil). The reimbursement of Trustees, expenses was as follows.. 2024 Number 2023 Nurnber 2024 2023 Travel 15 15 The Senior Management Team (SMT) including Ihe Chief Executive Officer are regarded as the charty's key management personnel under FRS102. The total amount of employee benefits received by the SMT was £155,246 (2023: £148,552). Employee benefits comprise salaries, employer pension sts and employer Nl Gosts. 13 Staff costs and employee bonofits The average monthly number of employees and full time equivalent IFTE) during the year was as follows." 2024 Number 2024 FTE 2023 Numbèr 2023 FTE Charitable activities 60 48 52 42 The lotal staff costs and employee benefits were as follows-. 2024 2023 Wages and salaries 1,186,460 983,805 Social security 77.386 67,949 Defined contribution pension costs 25,029 21,686 1.288,875 1,073,440 The number of employees who received total employee benefits (excluding employer Nl and employer pension costs) of more than £60,000 is as follows.. 2024 Number 2023 Number £60.001- £70,000 26
Citizens Advlc8 8ourn8rnouth, Chrlstchurch and Poole Notes to the Financial Statements Year Ended 31 March 2024 14 Tanglble flxed assets Computer equipment Fixturas and fittings Motor vehicles Totsl Cost or valuation.. Al 1 April 2023 35,220 22,061 49,908 107,189 Additions At 31 March 2024 35,220 22,081 49,908 107,189 Depreciation- At 1 April 2023 35,220 20,379 15,805 71,404 Charge for the year 1.682 9,981 11,663 At 31 March 2024 35,220 22,061 25,786 83,067 Net book value.. At 31 March 2024 24,122 24,122 At 31 March 2023 1,682 34,103 35,785 15 Investments General Funds 2024 2023 a) Investment assets Equities 365,398 Cash within investment portfolio 309 Market value at 31 March 2024 365,707 b) Analysis of movement Market value at 1 April 2023 Additions 350,000 Gain on investments 15,398 Interest 4ved 309 Market value at 31 March 2024 365,707 original cost 350,000 The fair value of listed investments is determined by reference to the c105ing quoted market price at the balance sheet date. 27
Citizens Advlc8 Bournemouth, Chrlstchurch and Poole Notes to the Financial Statements Year Ended 31 Alarch 2024 16 Debtors 2024 2023 Prepayments and accrued income 61.288 69.948 17 Creditors: amounts falling due within one year 2024 2023 Restated Other tsx and social security Pension creditor Accruals Deferred income (note 19) 21,409 4,914 22,968 196,248 18,536 3.721 9,827 107,360 245,539 139.444 18 Leases Total future minimum lease payments under non-cancellable operating leases are as follows.. 2024 2023 Not later than one year Later than one and not later than fiv8 yèars 1,922 6,701 2,333 8,623 2,333 19 Deferred Income 2024 2023 Restated At 1 April 2023 Additions l {released} during the year 107,360 88,888 257,977 (150,617) At 31 March 2024 196,248 107.360 Deferred income represents grants that have either been prepaid or are returnable (rf performance crileria is not achieved). 28
Citizens Advice Bournemouth, Christchurch and Poolo Notes to the Financial Statements Year Ended 31 March 2024 20 Fund reconciliation (a) Restricted funds Opening balance 2024 Closing balance 2024 Income Expenditure Transfers Cherry Tree Nursery Macmillan Care Locally Christchurch Magdalen Trust Sovereign Housing St Ann's Benefits Financial wellbeing Poole EUSS Pension Wise Macmillan welfare MAPS Water Guru Justice advice JP Morgan Let's talk money Smart Meters Immigration Support Household Support Fund Where We Can Call Home JP Morgan Increased Capacity Mediation Dorset Independent Age NLF Levs Talk Renting NLF Immigration Advice Urban Advice van Street support 10,034 27.300 8.199 6,000 15,150 39,688 14,991 108,144 85,803 72,877 32.416 8,245 68,229 24,871 2,000 210,000 80,591 375,000 11,546 10,000 75,000 30.106 {13,822} (27.3001 (9,311) (16.615) (15,150) (47.135) (30,491 } (108,144) (85,803) (74.491) 135,760) {33,143) (93,088) (24,8711 (13,7921 (210,000) (80,591) (385.724) {11,546) (10,000) (74,542) {34.045) {12,484) 3.788 1,112 10,615 7,447 15,500 1.614 24,898 24,859 11,792 10,724 458 3.939 2.503 34.103 149 24,122 149 34.252 1,316,190 (1,447,848) 122,135 24,729 Fund descriptions The purpose of each fund is set OL+t in the Trustees, Annual Report. Fund transfers All Iransfftrs to rg$lrict•d fund$ rgpr•$pnt Ir3n6fFr6 from unro6triGtgd fund6 to covor dofiGItG ari6ing on the restricted fund activities during the year. 29
Citizens Advice Bournemouth, Christchurch and Poole Notes to the Financial Statements Year Ended 31 March 2024 20 Fund reconciliation (a) Restricted funds (continued) Opening balance 2023 Closing balance 2023 Income Restated Expenditure Restated Transfers Chery Tree Nursery Macmillan Care Locally Christchurch Magdalen Trust Sovereign Housing St Ann's Benefits Financial wellbeing Poole EUSS Pension WISE Macmillan welfare Help to claim MAPS Water Guru Justice advice JP Morgan Let's talk moneylmoney Talks R3 Weare Smart Meters Immigration Support Household Support Funé Where We Can Call Home Urban Advice van Street support 10,034 25.200 7.251 12,000 15.000 39.838 100,441 101.723 81,134 {10,034) (25,200) {7,251) (17.852) (15,000) 139.838) (100,441) (101,7231 {81,1341 {645) (81,1271 (26,7861 (48,457) 5,852 81,127 26,786 33,300 15,157 209,305 8,240 9.882 9,500 327,600 14,036 (209,305) 110,283) (9,882) (9,5001 1327,600) (14,036) (15,399) 2,043 44.804 149 4,698 34,103 149 44,953 1,113.042 (1.151,493) 27,750 34.252 30
Citizens Advice Bournernouth. Christchurch and Poole Notes to the Financial Stataments Year Ended 31 March 2024 20 Fund reGonciliation {b) Unrestricted funds Opening Income and balance Investment Expenditure 2024 Gains Closing balanGe 2024 Transfers General funds Designated Core Continuity Fund 57.700 435,935 {204,8141 (172,135) 116.686 300,000 50.000 350,000 357.700 435,935 (204.814) (122,135> 466,686 Opening balance 2023 Closing balance 2023 Income Expenditure Transfer5 General funds Designated Core Continuity Fund 24.937 396,295 (335,782) (27,750) 57,700 300,000 300,000 324,937 396,295 (335,7821 127,750) 357,700 21 Analysis of net assets between funds Ganeral funds DaSnated Restrbcted funds Total 2024 2024 2024 2024 Fixed assets Investments Cash and cash equivalents Other current assets l (liabilities) 24,122 24,122 365.707 175,649 285,837 1175,0421 (184,251) 15.707 110.188 (9,209) 350.000 Total 116,686 350,000 24.729 491,415 General funds De51grrated funds Restricted funds Total 2023 2023 2023 2023 Fixed assets Cash and cash equivalents Other current assets l (liabilities) 1,682 34,103 35,785 304,911 63,052 425,663 16.593) 162,9031 169,4961 57,700 Total 57,700 300,000 34,252 391,952 31
Citizens Advice Bourn•mouth, Christchurch and Poole Notes to the Financial Statements Year Ended 31 March 2024 22 Analysis of changes In net cash 1 April 2023 Cash flows 31 Mafch 2024 Cash 169.595 116,242 285.837 Cash equivalents Total 256,068 425,663 {255.759) (139,517) 309 286.146 23 Bank balances held by the charity as custodian The charity has been acting as agent for BCP Council in distributing Government Household Support Fund grants to eligible individuals. During the year under the review, the charity received fvnds of £1,400,000 and distributed funds of £1.177,818. Al the balance sheet date £424,182 (2023= £202.000) was held in a segregated bank account pending dispersal of grants. 24 Financbal instruments The carrying amounts of the charity's financial instrumonts are as follows.. 2024 2023 Restated Financial assets Debt instruments measured at amortised cost.. - Prepayments and accrued income (note 16) 61,288 69,948 Financial liabilities Measured at amortised cost Other tax and social seGurity (note 17) Pension creditor {note 17) - Accrua15 (note 17) Payments received on account for programme related grants (note 17) 21,409 4,914 22.968 196.248 18,536 3.721 9,827 107,360 245,539 139,444 25 Pensions and other post-retirement benefits The charity operates a defined contribution pension scheme for its employees. The amount recognised as an expense in the year was £25,029 {2023: £21.686). The defsned contribution pension expense is allocated to charitable expenditure in accordance with the related salary Gosl. 26 Related party transactions Jennrfer Karno received £60 roimbursement of tVe1 expenses in her capacity as a volunteer. Jennrfer is the spouse of Trustee Andrew Karno. (2023= £nil}. 32
Citizens Advice Bournemouth, Christchurch and Poole Not•s to tha Financial Statements Year Ended 31 March 2024 27 Prior year Statement of Financial Activities (including Income and Expenditure Account) 2023 As Restated UnresthttÉd ndS Gerwal funds Designated fijnds Restricted funds Total Income and endowments from: Donations and legacies 85,702 1.820 87,522 Charitable activitie5 301,643 1,111,222 1,412.865 Other trading activities Investments 3.500 5,450 3,500 5,450 Total income and endovmionts 396,295 1.113,042 1,509,337 Expenditure on". Charitable actNities {335,782) (1.151,493) (1,487.275) Total expenditure (335,782) (1,151,493) {1,487,275) Net Income l (expenditure) 60.513 (38.451) 22.062 Transfers between funds (27.750) 27,750 Net movement in funds 32.763 (10,701) 22,062 Reconciliation of funds: Total ftjnds brought forward 24,937 300,000 44.953 369,890 Total funds carried forward 57.700 300.000 34.252 391,952 33