REGISTERED COMPANY NUMBER: 03717793 (England and Wales) REGISTERED CHARITY NUMBER: 1074801 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR CITIZENS ADVICE RHONDDA CYNON TAFF UMITED MHA Chartered At)untants and Statutory Auditor Elfed House Oak Tree Court Cardiff Gale Business Park Cardiff CF23 8RS
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Report of the Independent Auditors 8 to 10 Ststsment of Financlal Activities 11 Balance Sheet 12 Cash Flow Statement 13 Notes to the Cash Flaw Statement 14 Notes to the Financial Ststements 15 to 28
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees. who are also directors of the charity for the purposes of Ihe Companies Act 20C6, Present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charilies.. Slalement of Recnmmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objects The organisalions objects are to promote any charitable purpose for the public benefit by the advancement of education, the PfQteclion and preseNation of health and the relief of povety. sknesS and distress in particular. but wilhoui limilalion, for Ihe benefrt of the community in Rhondda Cynon Taff County Borough and surrounding areas IUK). Aims. objectives, strategles and a¢tlvlties for the year Citizens Advice Rhondda Cynon Taff (CARCT) aims to provide free, confidential, Impartial, and independent advi and infomiatton for the benefit of the local community, to give people a voio and the opportunity to improve the quality of their lives. We achteve this with the help of our dedicated staff and volunteets who strive to provide the best possible seTrice to our clients. In addition to the continuing provision of high-quafity advisory seN1$ lo the local communty we also continued to exter7d the range of helpline services we delivered across the UK. We achieved this through changes in our service delivery model and securing continuing funding for significant income streams and seeking new opportunities. In September 2023 we opened our new Pontypridd Office, located on Taff Street. Our new home offers a modem and adaptable space that will meet the needs of our organisalion and clients for many years to come in the first 6 months of operating, we advised more than 4.(KKI clients through the spao. We continued deVery of our Help Through Hardship Project, deliVed remotety across England and Wales by a nerk of Local Cilizens Advice: the project aims to provide advice and support to those seeking Food Parcels from Trussell Trusl Food Banks. Our finanoal appraisal service as part of RCTCBC'S Resilient Families Programme. continued to deliver swift, effeclive and bespoke support to families. The Serdice has been designed to identify the rfghl families in need of support at the right time, to provide swift resilieft focused assessments, to remove practical barriers to positive change and lo provide limely. 8ppropiiate and effective interventions. CARCT continued to deliver the Mentsl Health & Substance Misuse Service Users and their carers which began operating in June 2011 throughout Rhondda Cynon Taff for tier 2 seNice users and across Cwm Taf Morgannwg Univetsity Health Board area including Merthyr Tydfil for tier 1 Servi users with support from RCTCBC and Cwm Taff UHB. This project helps some of our most vulnerdble dients in addressing their prac111 problems allowing them and those supporting them to focus on other aspects of their heaFth and wellbeing. Feedback from cltents, professional support wothers and clinical staff is unequNocal in ils recognition of the value of Ihis SeICe. We continued and expended our exciling partnership with Cilizens Adviee Offi5 in Bridgend and Merthyr Tydfil alongside Shelter Cymru and SNAP Cymru. Advlcelink Cymru, a service funded by Welsh Govemment and combining five historic funding streams, aims to deliver tsrgeted advice and casework to clients who do not traditionally access advice se1$. The British Gas Energy Trust funded a specialist level Money and Energy advice selvice In community setting5. This tservice has allowed us to provide timely advice and casework to Individuals and lamilies impacted by the Cost-of-Living Crisi5. Working in partnershlp wilh colleagues In Citizens Advice Caerphli ly Blaenau Gwent we lointly begun delNery of an Access to justi Foundation - Help Attessing Legal Support project across RCT and Caerphilly. The project ensures that those needing advi on relationship and famity issues but do not qualify for Legal Aid are able to access advi. Page 1
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Slgnificant actlvitles The principal aclrvity ol Citizens Advice Rhondda Cynon Taff remained the provision of free, confidential. independent and impartial advice, information and counsel for members of the public. This is provided through offices in Ponlypridd and Mountain Ash, a range of outreach services at community venues throughout RCT and some services in Merthyr Tydfil. In addition to generalist advice, the following speaalist advisory services were delNered: Advicelink Cymru". a Welsh Government funded Serv[ that delivers targeted generalist and specialist advice in community settings, Help to Claim,. available face to face in Job Cenlres and over the phone through a national adviceline, the service provides ailvice and support through to when a Universal Credit daimanl receives their fjrst payment. Help Through Hardship: a natTronal partnership between Twssell Trust and Citizens Advice. Specialist employment and discrimination advice provided by Newport Citizens Advice. Resilient Families Setvice targeted. bespoke casework se1 for cfients referred by the RCT CBC Resilient Families Team. Specialist debt and welfare benefits advice for Mental Health & Substance Misuse Servtce Users and Carers funded by Rhondda Cynon Taff Gounty Borough Council and the Cwm Taf Morgannwg University Health Board. Specialtst utility advi deliVed by qualified Utility Champions fijnded by Big Energy Saving Network. British Gas Energy Trust and the Energy Saving Trust. A home visiting Servi for those whose health wes or caring commitments meant they could not othenMse access face lo Face advi seNices. Advi and information se1$ were provided through face-towface consultations. telephone advice lines, e-mail and via video chat systems. The bureau contributed to Adviceline Cymw, the national single telephone number for advice in Wales, so our community can now access telephone advice 5 days a week between 10am and 4pm on 0800 702 2020. Advice and infonnation semce were provided through fac&to-face o)nsullations, telephone advice lines, online vide chat. email and web4*at. CARCT continues to deliver specialist Iraining In Weware Benefits, Debt and Financial Capabilty and has delivered training to frontline workers and to members of the local communily. Staff and Volunteers Wofked to ensure that our clients, stories were Communi1 to the policy makers to ensure that the systems, Fegislalion and procedure they ¢ale benefit work for as many people as possible. We are realistic in understanding that policy and law may sornetimes adversely affect our dients but dear that their experiences are shared by many other people who would similarly benefit from policy change. Bolh volume and quality of evidence are factors in Influenung responsibly and CARCT ¢ontlnues to punch well above ils weight in tems of its public profile for the work that we do. Volunteers The charity receives help and supporl In the form of voluntary assistance In advising the public and administering the chaiity. The professionafism of our volunteer team. regardless of their role or function. is critical to our ability to provide a seamless and reliable service to our clients. Our volunteers have many and va(ted reasons for choosing to volunteer with CARCT - our expectations in lerms of volunteer commitment, Iraining, quality standards and princlples can seem dauntin9. but we know that. with support and encouragement, our volunteer team consislentty deliver what is asked for them embracing new and varied opportunities to help others. We athnowledge end appreciate them without reseNalion. Our volunteers contributed more than 150 hours ofwork per vRek during the latter part of the year. We have focused this year on recruiting an expanded team of volunteers to support and deliver advice seNice5 to the local Commun in pparatiOn for the opening of our new Pontypridd office in 2023r24. Page 2
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE CARCT continues to engage in the goveman¢e issues which are detemiinin9 the strategic direction of our seNice and the wider volLffllary sector and wa5 represenled throughout the year on thè Citizens Advice Cymru Advlsory Committee and Health Reference Group. CARCT helped over 18,500 dienls during the year (down slightly from 19,500 in 2022r23). Our dients problems are complex and these enquiries raised over 198,500 separate issues with an average of more than 10.7 issues per person {169,000 and 8.6 In 2022123) A dear indicatron of Ihe impact of the Cosl-of-Living Crisls in our communFtie$. Some of our dients have slgnificanuy complex problems which take time and expertise first to identlfy and then to resolve. Our advice model mean5 that clients are qui(*ly assessed and supported according to needs ensuring our limited resources are targeted most effectively. During the year we successfully helped our dienls to write off and manage more than £1.5 million pounds worth of client debt and achieve financial gains of more than £16.5 million, up from £15 million in 2022r23. The retum on our funder5 investment, in terms of our clients improved wellbeing, is often difficult to quantify though many express it In the forms of thank you cards and letters. In purely financial lerms though. we are clear that for every £1 invested in our seNios we retum £18.38 directly to members of our local communty through the gains achieved. Demand for our services continues to outstr7p Supply. We WO to maintain existing sources of income wherever possible and to work with a range of funders to ensure free advice servi5 continue to be available in across RCT. We regularly review our ser¥ice delivery model to ensure that our services a relevant and aCsIble and create new partnerships to help reach clients who may not otherwise have recelved the help which enabled them to move foThvard. For our funders who are interested in outcomes for clients we have been able to provide rDbusl evidence of the dFfferen¢e we make ensuring Citizens Advi Rhondda Cynon Taff remains a trusted partner recognised for delivering against both quantitative and qualitative targets in flexible and responstve ways. FINANCIAL REVIEW Princlpal fundlng sources The tntslees extend their gratitude to Rhondda Cynon Taff County Borough Council. Cwm Taf Morganrwg University Health Board, Welsh Govemment. the Energy Saving Trust, Trus$el Trust, British Gas Energy Trust. WCVA and the Department of Work and Pensions.. Donation$ Thank you also to those amongst our dients who sometimes offer small sums as ackn¢)wledgement of the help our team has provided- we know that this is simply not financ4ally possible for so many of our dienls bul their very many thank you Cards and kind works are also highly valued by the staff and volunteer team. Investment policy and objectives The Trustee Board has considered the most appropriale policy for investing funds and keeps this under regular review. Page 3
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Financial posltlon Incoming resources in the year were £2.867,577 (2023." £2,620,827). Of this £2,530,OLTrJ (2023.. £2,291.859) related to restricted activrlies. At 31 March 2024 total funds amounted to £692,294 of which £30.409 a considered to be restricted. After taking into account unrestricled tangible assets of £452,608, the charity's free reserves stsnd at £239,686. The cash at bank at 31 March 2024 was £218,565 (2023: £502.446). The corning year is amongst the most financially stable in recent memory, our success in Ihe Welsh Government Single Advice Fund commissioning process coupled with other innovative income Streams provides some much needed Certainty to our funded programmes. We are committed lo working with both local and national organisations towards a more sustainable position in relalion to several of our income streams over the course of the year and are targeting new funding appltcations where we have dentified gaps followrng community and partner engagement. Financial perforniance During the year we reviewed the affordabilty and effiaency of a number of our service agreements and are w01ng towards a model that ensures maximum benefit for every pound invested in our suPY conlracts. Salary and pay Remuneration of all paid staff is ¢onsrdered on an annual basis by the trustees. A cost-of4iving increase was agreed by the board in February 2023 and taking effed as of March 2023 with a further increase being awarded in June 2023. We a proud to be a Living Wage Foundation employer. Reserves policy Citizen$ Advice Rhondda Cynon Taff is required to ensure that free monies are available in each financial year to meet any reasonable foSeeable contFngency. We maintain a projeclion of income looking 3 years ahead and aim lo maintain a mixed income approach. Trustees will tske all necessary steps to ensure that at no time within thi5 pertod would it be possible for the cessation of one or more funding streams to present such a serious challenge to the future of the organisalion that il could not be managed so as to continue to provide a best value advice service. In reviewing the potential costs that could arise should a significant reduction in income be incurred. the tNstees have detennined that 'fe. reserves should be maintained equal to betsveen 3 and 6 months operating expenditure. with a slated Preferen for Ihe lower end of this banding, this equales to belween £683,000 and £1,366,OCrt). At psent free reserves hekl are below this level. Reserves will be required to cover future premises needs. IT costs and inherent uncertainty due to rolling conlfacts. Wth an increasing tendency for towards payment in aearS we musl ensure that there is suificient cash available lo meet our regular liabilities. This is particularfy relevant gFven the high proporiion of restrlcted funding we receive. We have sought to maintain a policy that new projeots must operate on a basis of full cost recovery in order lo ensure that reserves are nol depleted, Ihough in reality this can be very difficult to achieve. We thefore take an increasingFy pragmatic approach nSIdering affordability and organisalional benefit as well as the benefit to polenlial serVe users This has only been made possible through long lemi prudent financial management whlch has created these reseNes. Commercial contracts offering unrestricted funding wll conlinue to afford us the best opportunlties to add to our reserves In Ihe future. Page 4
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FUTURE PLANS Citizens Advi Rhondda Cynon Taff has identified the following strategic prrorilies for the period 202&2025. Advke- We will improve the experlence people have when they come to us for help. so everyone leaves with the knowledge and confidence they need to find a way forward. 2 Research and Campaigns l Advocacy- We will be a strongèr voice the issues that matter most to the people who come to us lor help. 3 Sustainability- We will secure our fuiure as a Servi through a more collaborative. proactiv8. and compelllive approach to fundralslng. reducing our impact on the environment wherever possible. 1181 ensurfng the safety and wellbeing of our staff. volunteers, and dients. In 202425 we will focus on improving our clients. joumeys through the organisation, makin9 best use of our data to Influen change and working with staff, volunteers and tTUStees to develop and embed organisational culture and values maklng us a place which people actively want to join and stay with. We reoognise that cuts In publi¢ sector funding megn Ihat in terms of value for money we must continue lo be competitive and must be able to demonstrate the difference and impact that our contribution make$. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document Citizens Advice Rhondda Cynon Taff is the Irading name of Rhondda Cynon Taff Citizens Advi Bureau which is registered charity and a company limited by guarantee. The maximum liability of each member is limited to one pound. At 31 March 2024 the company had 7 members. The charty is govemed by Its Memorandum and Articles of Association. The organisation was incorporated 8$ a company limited by guarantee on 23 February 1999 and registered as a charity on 23 March 1999. The charity commenced operations on 1 April 1999 at which dale the assets and liabilities of its predecessor, an unincorporated Charity, were acquired. Recruithient and appointment of new tyustees Trustees. who are also directors of the company. are elected from the local communlty and two thirds of ts members must either restde or work in Rhondda Cynon Taff. Under the Articles TnEstees who have served three years must resign and are eligible for re-ethtion at each AGM. Organlsational structuro Citizens Advice Rhondda Cynon T8ff is govemed by rts Ttustee Board which 15 responsible for setting the strategic direction of the OTganisation and the policy of the charity. The tiustees carry the ultimate responsibility for the conduct of Citizens Advice Rhondda Cynon Taff and for ensuring that the charity satisfies ils legal and contractual obli9alions. Trustees meet as a minimum quarterfy and delegate the day-to-day operation of the organisalion to the Chief Executive. The Trustee Board is independent from management. A register of members, interests Is maintained at the registered office. and is available lo the public. Induction and trainlng of new trustees Newly appointed trustees are provided with a comprehensive Induction to Rhondda Cynon Taff Ciltiens Advice Bureau through the provision of written induction materials. training coutses and mentoring by established trustees and opportunities lo shadow members ofthe staff and volunteer team Related parties Citizens Advice Rhondda Cynon Taff is a member of Cttlzens Advice. the operating name of the Nattonal Assoaalion of Citizens Advice Bureaux. which provides a framework for standards of advice and casework management as well as rnonttoring progress against these stsndards. Operating policies are independently determined by the Trustee Board of Citizens Advice Rhondda Cynon Taff in order to fulfil its charitable objects and comply wtih th6 national membership requirements. The charity also cmperates and liaises wmth other advice seNices. local charities and social sep4ices departments on behalf of clients. INhefe one of the Irustees holds the position of Irusteeldirector of anolher charity they may be involved in discussions regarding that other charity but not in the ultimate deciston-making process. Page 5
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management We confirm the major risks have been reviewed and 5yslems or procedures have been established to manage those risks. Citizens Advl¢e Rhondda Cynon Taff recognises that risks to which Ihe charity is exposed need to be revFewed and systems pul in place to mitigate those risks. To that end, Rhondda Cynon Taff Citizens Advi Bureau is continually monitoring and managing ils risk through use of a risk register, reviewing the risks identified in the business plan and ensurÈng action plans are in place lo mitigate its key risks. Induded in extemal risks Is that of the loss of fvnding. The effects of this have been minimised by the pr¢xeduTes in place. which have resulted in funding being SeCud from a variety of sources. The charity continues to seek to diversify its fvnding sources. Intemal risks are minimised by the implementation of ProdureS for authorisalion of all transaclions and projects and to ensure consistent quality ol delivery for all operational aspects of the charitable compary. These procedures atp periodÈ¢ally reviewed to ensure that they still meet the needs of the charity. Publi¢ benefit The organisalion's trustees can confimi that they have complied with the duty in Section 17 of the Charitles Act 2011 to have due regard to public benefit guidan by the Commission. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company numbeT 03717793 (England and Wales) Re9iStered Charlty number 1074801 Registered office Mountain Ash Library Knight Street MOUNTAIN ASH Rhondda Cynon Taff CF45 3EY Trustses Dilys Jouvenant- Chair. to October 2023 Nicola Wlliams - Chair from November 2023 Kelvin Jones - Treasurer Lewis Brencher- Vi¢e-Chair from November 2023 Michael Bryan Stephen Barlow Christopher Binding Nke¢hi Dawson (appointed 1 Novernber 2023) Chief Executive l company Secretary Ashley Comley Senior Ststutory Auditor Julia Mortimer Auditors MHA Chartered Accountants and Stslutory Audltor Elfed House Oak Tree Court Cardiff Gate Business Park Cardiff CF23 8RS Page 6
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND AOMINISTRATIVE DETAILS Solicitors Eversheds Sulherf8nd 1 Callaghan Square Cardiff CF10 5BT United Kingdom Bankers during the year Lloyds Bank PIC Commercial Banking PO Box 1000 BX11LT STATEMENT OF TRUSTEES. RESPONSIBILrriES The trustees (who are atsts the dire¢lors of Citizen5 Advice Rhondda Cynon Taff Limited for ihe puOse$ of compary lawl a wponsible for preparing the Report of the Trustees atr the financial slal¢m6nts in a¢¢ordantx with appwcable law and United Kingdom A¢£ounling Standards {Uniied Kingdom Generally Accepted AGcounling Pra¢li¢e). Company law requires the Iwstees lo prepare financial staternenls for each financial year which gwe a true and fair view of th¢ Stale of affalrs of the chaiilable company and of the incomill9 resotsices and applicalion of r¢sovrces. iij¢luding the incom9 and exp¢ThJilure, of the charitable company for that period. In preparing those financial st*ements, rhe Iruslee5 are Yequwed lo Select sulabte accounting policies and Ib appfy them ¢onsi5tenlty- obseFve the melhods and prtrn¢iples in the Chanly SORP- make judgements and es1in8tes that are reasonable and prudent- prepate the financial statemeols on the going concerfi basis unless il is inappropriate to presume that the charitable Company will continue in business. The trustees are responsible for keeping proper accouttting records whith di5¢Aose wilh reasonable acwrn¢y al 8ny lime the financial position ot the charilable ¢ompany and lo enable them lo ensvre Ihat Ihe financial 51alemenls comply with the compan Acl 2006. They are also iespon5thJle for safeguarding the assets of the thar((ab cJJmpany and hence far taking reasojable 51eps for thè prevenlion and detection of fraud and other irregularities. In so far as the trustees are aware= there is no rekvant audii infomi¥lion of which the chariiable cOMpanS auditors are unaware- and the trustees have lakeft all steps Ihal they ought lo have taken lo make themselve5 aware of any relevant aud inft)Mt10n and lo eslablr5h that the auditors aTe aware of that infonnation. AUDITORS The auditor$. MHA, will be proposed for re-appoinlmenl al the lorihcoming Annual General Meeting. Approved by order of the Board of Trustees on .... N R VlfjlSiams- Trustee Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED Opinion We have audited the financial statements of Citizens Advice Rhondda Cynon Taff Limited (the 'charilable company,) for the year ended 31 March 2024 which comprise Ihe Slatemenl of Financial Adivilles, the Balance Sheel, the Cash Flow Statement and notes to the financial statements, Including a summary of significant accounting policFes. The financial reporting framework that has been applied in their preparation is appllcable law and United lfjngdom Accounting Standards (United lQngdom Generally Acopted Accounting Practi). In our opinion the financial stalemenls: give a true and fair view of the stale of the d7aritable ci)mpany's affairs as at 31 March 2024 and of ils incoming resour$ and application of resources, including ils income and expenditu, for the yeai then ended; have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements ofthe Companies Act 2006. Basls for oplnlon We condu¢ted our audit in aC0)rdan with Intemational Standards on Auditing (VK) (ISAS IUK)) and applicable law. Our responsibilities under those standards a further described in the Auditors. responsibifities for the audit of the financial statement5 section of our report. We are independent of the charilable company in accordance with the elhical requirements that are relevant lo our audit of the financlal statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance wTrth these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basls for our opinron. Concluslons relating to going con¢em In auditing the financial stalements. we have conduded that the trustees, use of the going concem basis of accounting in the pparatIon of the financial statements is appropriate. Based on the work we have perfomied, we have not identrfied any material uncertainties lating to events or conditions that, Individually or collectively. may cast significant doubt on the charitable company's ability to continue as a going ¢oncem for a period of at least twelve months from when the financial slalements 8re authorised for issue. Our responsibilities and the responsibilities of the truslee$ with respect to going ¢on¢em are described in the relevant sections of this report. other Infomiation The trustees a responsible for the olher Information. The other information comprises the infomation induded in the Annual Report, other than the financial statements and our Report ofthe Independent Aurfilors thereon. Our opinion on the fjnancial statements does not cover the other informallon and. except to the extent othemise explicitly stated In our report. we do not express 8ny fonn of assurance conclusion Ihereon. In Connection with our audit of the financial statements. our responsibility is to read the othef information and, in doing so. consider whether Ihe other information is materially inconsistent wrth the financial stalemenls or our knowledge obtained in the audit or otheise appears to be materially misstaled. If we identify such material inconslstencres or apparent material misstatements. we are required to determine whether this gives rise to a material misstalemenl in the financral statements themselves. If. based on the work we have perfonned. we conclude that there Is a material misstatement of this other informalion. we are required to report that fact. We have nothing to report in this regard. Oplnions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work urHlertaken in the course of the audit". the information given in the Report of Ihe Trustees for the financlal year for vthich the financial statements are prepared is consistent with Ihe financial $latementS.' 8nd the Report of the Trustees has been prepared in accordan with applicable tegal requirements. Matters on which we are required to report by exceptlon In the light of the knowledge and understanding of the charitable company and Ils environment obtained in the course of the audit, we have not identified material misstatements in the ReF)Ort of the Tnjstees. We have nothing to report In respect of the foll¢)wlng matters where the Companies Act 21JJ6 requlres us to report to you if. in our opinion: adequate accounting records have not been kept or relums adequate for our audit have not been received from branches not visited by us: or the financial slalements are not in agreement with the accounling records and relurns: 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 take advantage of the small companies exemption from the requiremenl to prepare a strategic Report or in preparing the Report of the Trustees. Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED Responslbilities of trustees As explained more fijlly in the Statement of TTuslees' Responsibilities, the trustees (who are also the director5 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 intefflal Gontrol as the trustees detemiine is necessary to enable the preparation of financial statements that are free from materlal misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for asse55lng the charitable company's abllity to continue as a going concern, disdosing, as applicable, matter5 related to going concern and using the going concem basis of accounting unless the Iruslees either intend lo liquidate the charitable company or to cease operations, or have no realis¢ atternative bul to do so. Our responslblllttes for the audit of the fjnancial statements Our objecttves are to obtain reasonable assurance about whether the ffnancial statements as a whole are flee from material mi55talemenl. whether due to fraud or error, and lo issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISA5 (UK) will always detect a material misslalement when it exists. Mlsstalements can arlse from fraud or error and are considered material if, individually or in the aggregate. Ihey could reasonably be expected to influen the eCOrmIC des1OnS of usefs tsken on the basis ofthese financial slatemenls. Irregularities. indudtng fraud. are instances of non-complian Nwth laws and regulations. We design procedures in line with our SponSIbl[lItes, ouuined above. to detect malerial rnisststements In respect of ivegularities, including fraud. The specifi¢ procedures for this engagement and the extent to which these are capable of deteding irregulatities, including fraud is detailed below- Enquiries of management, those charged with governance around actual and potential litigation and claims-, Performing audit work over the risk of management override of controls, including test9 of journal entries and other adjustments for appfopriateness and evaluating the business rationale of signifunt transactions outside the normal course of business.; Reviewing minutes of meelings of those tharged with govemance; Evalualing the reasons for any large or unusual transactions: Reviewing finanaal statement disdosures and tesling to supporttng documentation to assess compliance with applicable laws and regulations.to underfying supporting documentation. Because of the inherent limitations of an audit there is a risk that we will not detecl all irregularibes. includng those Feading to a material mi$ststement in the financral statements or non-compliance with regulation. The risk increases the more that compliance with a faw or regulalion is removed from the events and transactions refleded in the financial statements as we will be less likely to become aware of inslan¢es of nort-compliance. The risk is also gfeater reganling iffegularities occurring due to fraud rather Ihan error. as fraud Involves Intentional concealment, forgery, collusion. omission or misrepresentations. A further description of our iesponsibilibes for the audit of the finanaal statements is located on the Financi Reporting Counafs website at www.frc.org.uklaudlt0rs sponsibilities. This description lorms part of our Report of the Independent Auditors. Page 9
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED 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 woth has been undertaken so that we might state lo the tharitsble companvs members those mallers we a required to slate to Ihem in an auditors. report and lor no other purpose. To Ihe fullest extent permitted by law, we do not accepl or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work. for this report, or for the opinions we have fom)ed. Julia Mortimer (Senior Slattrtory Auditor) for and on behalf of MHA Charted Accountants and Ststulory Auditor Cardiff CF23 8RS MHA is the trading name of Maclntyre Hudson LLP, a lirnited liability partnership In England and Wales (registered number OC312313) Page 10
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donatitjns and legacies 45,262 194,559 239.821 268.837 Charltable a¢tivltles Generalist Specialist Training 131,573 160.592 1,691,851 618,704 24,886 1,823.424 779,296 24.886 1,667.881 677.841 Other trading activities Other income 150 150 3,997 2.271 Total 337.577 2.530,000 2.867.577 2.620,827 EXPENDITURE ON Charitsble activities Generalist Specialist Training 190,777 89.521 1,838,387 620.569 21.372 2.029,164 710,090 21,372 1.784,969 828.824 Total 280.298 2,480,328 2 760.626 2,613.793 NET INCOME Transfers between funds 57.279 75.421 46.672 5,421 106,951 7,034 21 Net rnovement In funds 132.700 (25.749) 106,951 7,034 RECONCILIATION OF FUNDS Total funds brought forward 529,185 56,158 585,343 578.309 TOTAL FUNDS CARRIED FORWARD 661.885 30.409 692.294 585.343 The notes fonn part of these financial ststements Page 11
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Toial funds Unreslrieted funds Restricted fund$ Noles FIXED ASSETS Tanglble a$seis 452,608 452,808 215.346 CURRENT ASSETS Debtors Cash al bank and in hand 14 15 158,384 282.871 102.343 44.2461 260.727 218 565 161,889 502.446 421,195 58.097 479.292 664,335 CREDITORS Amounts falling due within one year 16 1116,2821 127.6881 1143,9701 {181,901) NET CURRENT ASSETS 304.913 30.409 335,322 TOTAL ASSETS LESS CURRENT LIABILrriES 757.521 3CS.409 787.930 697.780 CREDITORS Amounis falling due after more than one year 17 195,6361 <95,6361 <112.4371 NET ASSETS 661,885 30.409 692.294 FUNDS Uniestricted ftsnds Restrided funds 21 661.885 30,409 529,185 TOTAL FUNt)s 692.294 585.343 These fingnrAal stalemenls have been piepaied in a¢¢ordance wth the provisions applicable io charitable companies svbjecl lo the small companies regime. The fi anaal stslements were approved by the Board of Trustees and authori5ed for FSsue on N R Wliiams- Trustee The notes forni part of Ihos¢ fin8nual slalemenls Page 12
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activitles Cash generated from operations Loan Interest 6.553 8.331 137,147 7.750 Net cash provided by operating activities 14.884 144,897 Cash flows from investing a¢tlvities Purchase of langible ffixed assets 274,765 Net cash used in investing actNlties 74,765 Cash flows from finan¢ing activities New loans In year Loan repayments in year 140.C¥JO 19.644 Net cash (used in)Iprovided by financing activities 120.356 Change in cash and cash equivalents In the reportlng period Cash and cash equivalents at the beginning of the reportlng period (283.881) 70,296 432,150 Cash and Cash equivalents at the end of the reporting period 218.565 502.446 The notes form part ofthese financial slatemenls Page 13
CITIZENS ADVICE RHONDDA CYNON TAFF UMITED NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET INCOME TO NEf CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net Income for the reporting perlod (as per the Statement of Finan¢lal Activities) Adjustments for: Depreciation charges (In¢rease)Idecrease in debtors (Decrease)fincrease in creditors 106,951 7,034 37.503 {98.838) 39.083 22.384 5.230 102499 Net cash provlded by operations 6,553 137 147 ANALYSIS OF CHANGES IN NET FUNDS At 114123 Cash flow At 3113124 Net ¢ash Cash at bank and in hand 502.446 83.881 218.565 502.446 283.881 218.565 Debt Debts falling due within 1 year Debts fairing due after 1 year (15.669) 112,437 (1,132) 16.801 {16.801) 95,636 15,669 112,43 Total 374.340 268,212 106.128 The notes form part of Ihese financial statements Page 14
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AIARCH 2024 STATUTORY INFORMATION Rhondda Cynon Taff Citizens Advice Bureau Is a registered charity and private company limited by guarantee having no share capital. Members have agreed lo contribute £1 in the event of a winding up. The charitable company is Incorporated in Wales in the United Kingdom. The registered office is noled w6thin reference and 8dministralive details on pa9e 6. The nature of the CoMpanS operations and principal acttvities Is disclosed within the Report of the Trustees. The financial statements are presented in Slerflng (£). the companls functK)nal currency, and rounded lo the nearest pound. The significant accounting policies applied In the pparatiOn of these financial statements are set out below. These poliL7es have been consistently applied to all years presented unless otheTwise staled. ACCOUNTING POUCIES Basls of preparing the financlal statements The financial statements of the charilable company, which is a public benefit enlity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting ar¢d Reportin9 by Gharilies: Slalement ot Recommended Practice applicable to ¢harities preparing their accounts in accordance with Ihe Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)., Financial Reporting Standard 102 The Flnancial Reporling Standard applicable in the UK and Republi¢ of Ireland. and the Companies Act 20. The financial statemenls have been prepared under the historical cost conventn. There have been no material departures from Finanaal Reporting Standard 102. Golng concem The financial statements have been prepared on a going concem basis, with it being noted that a significant portion of the organisations project funding is due to renewal on 31 March 2024. There is however 8 reasonable expectation for Welsh Government funding to continue th9h to at least March 2025. However. given the significant cash batance and unrestricted reseNes held by the ¢harity. the tnJslee5 are confident that Citizens Advice Rhondda Cynon Taff will be able to tsilor service provision rn line with the funding avallable and will look lo oblaln additional funding from other sources rf necessary. As a result the trustees consider it appropriate for the fina181 statements to be prepared on a going concem basis. Income All income is recognised in the Statement of Financial Activilies On the chaiity has entltlemenl to the fvnds. it is probable that the inwme wÉll be received and the amount can be measured reliably. This indudes capital grants. Donatlons and legacles income Donations and legacies income includes donations, gifts and gfants that provide core funding or are of a general nature are recognised Whe there is enlillement, probability of receipt and the amount can be measured wtth sufficient reliability. Such income is only deferd when the donor specifies it musl be used in future accounting periods or the donor has imposed conditions which musl be met before the charity has unconditional enfirfement. Income from ¢haritable activities Income from charitable activities includes incomé reIved under contraGt or where enllttement to grant funding is subkct to specific performance conditions. This income is re¢ognised as the related seNices are provided and there is enlillement. probability of receipt and Ihe amounl can be measured with SUfflent reliabdity. Income is deferred when the amounts re¢eNed are in advance of the performance of the servtce or event to which they relate. Page 15 ¢onlinued...
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS - Continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - contlnued Other tradlng activities Income Income from other trading aclivilies indudes incomè r1ved under contract. Thls Income 1$ reLy)gnised as the Telated setvices a provided and there is enlillement. probability of receipt and the amount can be measured with sufficient reliability. Income is deferred when the amounts received are In advance of the perfomiance of the service or event lo which they relate. Investment Income Investment income is recognised on a re1Vable basis. Expendlture Liabililies are recognised as expenditure as soon as there is a legal or constructive obligation commltting the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measUd reliably. Expenditure is accounted for on an ac¢ruals basis and has been dassified under headings that aggregate all cost related to the category. Where costs cannot be diredy attributed to pariicular headings they have been allocated lo a¢tÈvities on a basis ¢onsistenl with the use of resources. Expenditure on costs of raising funds indude costs fundraising, advertising, marketing and direct mail materials as well as a proportion of salaries based on an approximation of time spenl in thls area. Expenditure on chaiilable activities comprises Ihose costs incurred by the charity in the tyelivery of its activities and services for its beneficiaries. It includes both costs that can be 8llocated directly io such activities and those costs of an indirect natufe nSSary to support them. Support costs are those cost5 Ihal, whilst necessary to deliver an activity, do not themselves produ or constitute the output of ihe charitable activity. This indudes govemance costs which are those costs a350ciated with meeting the conststutional and statutory requirements of the charity and include the accountancy fees and cosls Imiked to the strategi¢ management of the charity as well as a proportion of salaries based on an approxlmation of time spent in this area. Allo¢ation and apportlonment of costs All costs a allocated between expenditure categories on a basis designed to Teflect the use of the resour. Costs relating to a particular activity are allocated directly- others are apportioned on an appropriats basis. Tanglble fixed assets Deprectalion Is provided at the following annual rales in order to write off each asset Oess expected residual value) over its estimated usefijl lrfe. Short leasehold propety Fixtures and equipment Over life of lease 33 /• Straight line Fixed assets are initialEy recorded at cost. Only assets which cost £1.000 or more are capttalised. Taxation The charity is exempt from corporalion tax on ils charitab16 activities. Flnan¢ial instruments The charity only has financial assets and financial liabilities of a klnd that qualfy as basic financial instrltments. Basic financial instnjments are initially recognised at transaction value and subsequently measured at thelr settlemenl value. Trade debtors and other debtors are recognised at the settlement amount due and prepayments are valued at Ihe amount prepaid. Creditors are recognised where the charity has a present obligation resuming from a past event that will probably result in the transfer of funds to a third party and the amount due to settle Ihe obligation can be measured or estimated reliably. Creditors are normally recognlsed at thelr settlement amount after allowing for any trade discounts due. Page 16 conltnued...
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - ¢ontinued Penslon costs and other post-retirement benefits The tharity operates a defined contribution pension scheme for Boffle of its employees. The assets of the scheme are held separately from those of the chanty. The annual contributions payable are charged to the statement of financial activities ino)rporaling the income and expenditure 8¢counL Operating lease commitments Rentals applicable to operating leases where subslantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a slraighl line basis over the period of the lease. Funds structure Unrestricted funds Unrestricted funds are donations and other incoming Tesoufces receivable or generated for the objects of the charily without further specified purpose and are available as general funds. Designated funds Designated fvnds are unrestricted funds eamiarked by the board for particular putposes. Restrlcted fvnds Reslricled funds are to be used for specific purposes as laid down by Ihe donor. Expenrfiture, which meets these criteria, is charged to the fund. together wilh a fair allocation of support and govemance costs. Transfers are made from stricted to unrestricted funds relating to Ihe purchase of fLxed assets from reslricted Inrne where such expenditure fulfil$ the terms of the restriction. DONATIONS AND LEGACIES 2024 2023 Gifts and donations Grants 45.262 194,559 44,376 224,461 239.821 268,837 Grants received. induded In the above, are as follows.. 2024 2023 Rhondda Cynon Taf County Borough Coun¢ll Moondance Foundation - COVID-19 Relief Fund Rhondda Cynon Taf Counly Borough Council- Cost of LNing Sub-Grant 194.559 194,461 15,000 15,000 194.559 224,461 OTHER TRADING ACTIVITIES 2024 2023 Consultancy services and other income Page 17 continued...
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Grants Generalist Families Flrsl Generalist Weffare Rights setvlce Generalist Help lo Claim - Face lo Face Generalist Advicelink Cymru- F2F Generalist Advicelink CymN- Claim Whats Yours Trussell Trust- Food Banks Advicelink Cymru- AGcess Partner Funding Advicelink Cymru- Imnter Capacity Funding RCT- Shared Prosperty Fund- Multipty Grants Families First Welfare Rights seNice Rhondda Cynon Taf- Prescribing Advice Cwm Taf Health Board- Prescribing Advlce Advicelink Cymru - Debt Speaalisl Advicelink Cymru - Benefits Specialist Advicelink Cymru - Bastc Income Pilot Grants 999,642 30.000 25.500 190,470 265.982 909,284 30,OtXI 25,500 219.282 273.318 Generalist Generalist 189,000 79.393 189.CiiXI 21,499 Generalist 21,000 Generalist 10.060 Generalist Speciaiist Specialist Specialist 12,377 246.014 70,O¢XI 59,500 196.816 70,000 59.500 Specialist 34.500 34,5(K) Speaalist 18.118 17,850 Specia115t 157.682 161.027 Specialist 45.596 32.515 Specialist Training 147,886 24,886 105,633 2,627.606 2.345.722 Grants received, included in the above. are as follows= 2024 2023 British Gas Energy Ttust Rhondda Cynon Taf County Borough Counul - Welsh Church Act Homelessness Prevention REL- Energy best EAP - Energy best Smart Energy GB - Reglonal Partner Contract Energy Saving Trust- Energy Redress S¢heme COVID-19 Crisis Fund BESN - Bi9 Energy Saving Network Volunteering Wales Fund Help Through Hardshlp Access to Justi Foundation- Help Accessing Legal Support Moondance Foundation- Wales Energy SeNice Rhondda Cynon Taff County Borough Council- Shad Prosperity Fund- Community Grant Allen & Overy Foundation National Grid - Energy Caseworker Carbon Monoxide Advice Project 119,743 50,000 67.284 12,975 46.046 75,000 67.267 12,975 13.000 23,160 19.136 14,5C 34,489 24.886 802,770 26,700 41,479 770.825 53,400 25.057 18,937 5,000 11.543 7,590 1270 542 1,106.100 Page 18 continued...
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS . eontlnued FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES COSTS Direct Costs (see note n Support cosls (see note 8) Totals Generalist Specialist Training 1,800,069 629.920 18,961 229.095 80,170 2.029,164 710,090 2.448.950 311.676 2.760,626 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Travel costs Premises St$ Office cosls Recruitment and training Sundry costs Energy voucher payments Partner payments Funding clawbacks Deprectation Interest payable and similar charges 2,008,998 8.129 61.550 178,851 8.908 3,853 2,703 119,489 15.616 33.427 7.426 1,882.649 14,823 44,482 177.977 17,384 17,834 90,698 28,884 20.008 2.448.950 2.301.666 SUPPORT COSTS Staff costs Other costs Govemance costs Deprecration Totals Generalist Specialist Training 172,946 60.521 1,822 2,878 1.007 30 23.133 8,095 243 30.138 10,547 316 229,095 80.170 235,289 3.915 31.471 41.001 311.676 All costs a allocated belween expenditure categories on a basis desi9ned to refiecl the use of the resource. Costs relaling to a partiixlar activity are allocated directly- others a apportioned on an approprTrate basis. NET INCOMEIIEXPENDITURE) Net incomel(expendlture) is slated after chargingl{crediting): 2024 2023 Auditors, remuneration Dèprèaation - owned assets 8,970 37,503 7.358 22,384 Page 19 continued...
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 10. TRUSTEES. REMUNERATION AND BENEFITS There were no tru$tee$' remuneration or other benefits for the year ended 31 Marcth 2024 or for the year ended 31 March 2023. Trustses, expenses Travelling expenses of £Nil (2023- £Nil) were paid by the charity in regards to trustees during the year. There were no balances oulslanding at the year end (2023.. £Nil). 11. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 2,022,345 163.243 68.391 1.906,338 154,393 59.241 2.253,979 2.119,972 The average monlhly number of employees during the year was as follows: 2024 2023 Chief EXelive Senior managers Operntions manager5 Administration and support Adv and informatron 79 74 98 93 The number of emptoyees whose employee beneffts (excluding employer pension costs) exceeded £60,000 was: 2024 2023 £60.001- £70,000 Total remuneration benefits paid lo key management personnel in the year was £137.602 {2023- £133.790). Total settlement 5t5 paid lo employees in the year was £Nil (2023.. £4.279) COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 12. Unreslrrted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donats'ons and legacies 74,376 194.481 268.837 Charltsble acuvltles Generalist Specialist 73,499 174,825 1,594.382 503.016 1,667.881 677,841 Other trading activities Other income 3,997 2,271 3.997 2,271 Total 328.968 2 291.859 2.620.827 EXPENDITURE ON Charitabl¢ activitles Generalist 1,784.969 1.784.969 Page 20 Ilinued...
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES . continued Unrestricted funds Restricted funds Total nds Speciallst 342,904 485,920 828 824 Totsl 342,904 2,270.889 2613793 NET INCOMEI{EXPENDITURE) Transfers between fund$ (13,936) 33.623 20.970 33.623 7,034 Net movement In funds 19.687 {12,653) 7,034 RECONCILIATION OF FUNDS Totsl funds brought foThvard 509,498 68.811 578,309 TOTAL FUNDS CARRIED FORWARD 529,185 56.158 585,343 13. TANGIBLE FIXED ASSETS Short leasehold properly Fixtures & equipment Totals COST At 1 April 2023 Additions Disposals 203.787 235,942 190.725 38,823 394.512 274.765 At 31 March 2024 439.729 173,799 613,528 DEPRECIATION At 1 April 2023 Charge for year Eliminated on disposal 36.215 8,512 142,951 28,991 55.749 179,166 37,503 At 31 March 2024 116 193 160 920 NET BOOK VALUE At 31 March 2024 395.002 57,606 452.608 At 31 March 2023 167.572 47.774 215.346 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors and prepaymenls Accrued incorne 15.415 245 312 15,013 146.876 260,727 161889 15. CASH AT BANK AND IN HAND The current year bank balance for unrestrfcted funds amounted to £253.758 (2023; £472,764) and £35.193 in deficit on restricted funds (2023.. surplus £29,682). This is due lo Ihe charity using unrestricted funds to support reslricted pmjects until the restricted grants included in debtors had been ceIVed. The total bank and cash in hand at the balan sheet dale was £218,565 (2023: £502,446). Page 21 continued..
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS . ¢ontlnued FOR THE YEAR ENDED 31 MARCH 2024 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other loans (see note 17) Social security and other taxes Other creditors Accruals and deferred income 16,801 15,669 34,952 21.802 109.478 12.177 114,992 143.970 181.901 2024 2023 Deferred income brought forward Released to SOFA Additional income deferred in the year 40.083 (40,083) 5,000 {5,000) 4.132 40.083 17. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2024 2023 Other loans (see note 17) 95.636 112.437 18. LOANS An analysis of the maturity of loans is given below.. 2024 2023 Amounts falling due within one year on demand: Other loans 16.801 15.669 Amounls falling between one and years: Other loans - 1-2 years 18.016 16.802 Amounts falling due between Iwo and five years.. oiher loans - 2-5 years 62,247 58.050 Amounts falling due in more than five years.. Repayable by instalments: other loans more 5yrs instal 15.373 37,585 The other loan balance comprises a loan of £140.000 from Wales Council for Voluntary Action. The loan is repayable in 90 monthly instalmenls. The interest rale on the loan 1$ 7VA. 19. LEASING AGREEMENTS Minimum lease payments under nonrycancellable operating leases fall due as follows: 2024 2023 thin one year Behveen one and five years Sn more than five years 98.328 272,218 54.825 98,328 373.292 89,125 425 171 560,745 The lotsl lease payments regnISed as an expense in the year amounted to £98,375 (2023.. £98.418). Page 22 onlinued...
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 20. SECURED DEBTS The followin9 secured debts are included within creditors: 2024 2023 Other loans 112,437 128.106 The above loan is in respect of a WCVA loan for the furt)Ishrnet of new premises In Pontyptidd. Thls loan is secured by a debenture agreement with a fixed and floating charge. MOVEMENT IN FUNDS 21. Net movement in funds Transfers between funds At 3113124 At 114123 Unrestrlcted funds General fund 529.185 57,279 75,421 6S1.885 Restrf¢ted funds British Gas Energy Trust Welsh Church Act fvnd Prescribing Advice: Tier 2 frjnd Advicelink Cymw- F2F Energy Savlng Trust- Energy Redress Scheme COVID-19 Crisis Fund AdVilink Cymw- Claim Whafs Yours Volunleering Wales Fund Access to Justice Foundation- Help Access Legal Support Wales Energy Servi Shared Prosperity Fund Advicelink Cymru- Basic Income Pilot Trussell Trust- Foodbank Project AdVilink Cymru- Access Partner Funding 9,412 1,522 50,OLNJ 375 (2,756) 10.934 (50.000) 375 10.269 (7,513) 4.850 (2,205) 955 4.850 15.866 (13,661) 955 3.959 3,032 4,672 7.796 1,152 3.404 (222) (1.550) (7,549} (1,152) 7,363 2,810 3.122 (247) 4.000 56.158 49,672 TOTAL FUNDS 106,951 692.294 Page 23 confinued..
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 21. MOVEMENT IN FUNDS . eontinued Net movement In fijnds. induded in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fijnd 337,577 (280.298) 57,279 Restricted funds British Gas Energy Trust Welsh Church Act fund Prescribing Advice.. Tier 2 fund Homelessness prevention Help to Claim- Face lo face Infom)alion Advi SeNice- Core Funding Advicelink Cymru- F2F Advicefink Cymru - Debt SpecAalist Advicelirtrk Cymru- Beneffts Specialist Enery Saving Twst- Energy Redress Scheme COVII)-19 Crisis Fund Advicelink Cymru- Claim Whafs Yours Volunteering Wales Fund Access to Justi Foundation- Help Access Legal Support Help Through Hardship Wales Energy SeNice Shared Prosperty Fund AdVIlink Cymru - Basic Income Pilot Trussell Trust- Foodbank Project Advicelink Cymru - Access Partner Funding 119.743 50,000 34.500 67.264 190,470 194.559 265.982 157,682 45.596 (118.221) 1.522 50,0 375 (34,125) (67,264) (190.470} (194,559) (268,738) (157.682) {45.596) (2,756) 34,489 189.000 24,886 {29.639) (191.205) (23,931) 4.850 (2,205) 955 26.700 802,770 41,479 25.057 147.886 79,393 (23.296) (802,770) (41,701) {26,607) (155,435) (80,545) 1222) (1,550) (7,549) (1,152) 21,000 11.544 Nationaf Grid - Energy Caseworf<er (17,000) 11,544 4,000 2.530.000 2.480,328 49,672 TOTAL FUNDS 2 867.577 2.760,626) 106.951 Page 24 conb'nued...
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 21. MOVEMENT IN FUNDS - ¢ontinued Comparatlves for movement in funds Nel movement In funds Transfers between funds Al 3113123 Al 114122 Unrestricted fitnds General fund Designated - Taff Street Refurbishment 389,068 120.430 (13.936) 154,053 120.430 529,185 509.498 {13,936) 33,823 Restricted funds Brttish Gas Energy Twst Money Advice SeTvice - Debt Advice Project Help to Claim - Face to face Trussell Trust- FoDdbank Helpline DV Income Maximlsation - Test & Leam Advicelink Cymru - F2F Communty Foundation Wales- Cofonavirus Resilien Fund AdviceKnk Cymw- Claim Imjat's Yours Access to Justi Foundation- Help Access Legal Support Wales Energy Servi Shared Prosperity Fund Advicelink Cymru- Basic Income Pilot Trussell Trust- Foodbank Project 529,185 9,412 9,412 8.511 5,281 1,023 43.996 (8,511) (5,281) {1.023) (28,884) 10,269 (15.112} 10,269 10.000 (10.000} 15,866 15,866 3,959 3,032 4.672 7,796 1.152 3,959 3.032 4,672 7,796 1.152 33.623 56,158 TOTAL FUNDS 578.309 7.034 585.343 Page 25 continued...
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 21. MOVEMENT IN FUNDS- contlnued Comparalive net movement In funds, included in the above are as follows: Incoming resources Resour$ expended Movement in funds Un$t[iCted funds General fvnd 328,968 (342,904) (13,936) Restricted funds British Gas Energy Trust Prescribing Advice: Tier 2 fund Homelessness prevention Help to Claim - Face to face Informats'on Advice SeNi¢e- Core Funding Trussell Trust- Foodbank Helpline DV Income Maximisation- Test & Leam AdVIlink Cymru - F2F AdVilink Cymru- Debt Specialist Advicelink Cymru - Benefits Specialisl Smart Energy GB- Regional Partner Contract Energy Saving Trust- Energy Redress Scheme COVID-19 Crisis Fund Advicelink Cymru - Claim What's Yours Access to Justice Foundation- Help Access Legal Support Help Through Hardship Wales Energy Service Shared Prosperity Fund AdviceIink Cymru - Basic Income Pilot Tfussell Trust- Foodbank Project 75.01)0 34,500 67,267 219.282 194,461 (65.588) (34,500) (67.267) 1224.563) {194,461) (1,023) 128,884) {263,047) (161.02n (32,515) 9,412 (5.281) (1,023) P8,884) 10,269 273,316 161.027 32.515 23,160 (23.160) 19.137 189.000 {19,137) (173,134) 15.866 53,400 770,825 34.900 16.937 105,633 21.499 (49.441) <770,825) (31.868) (12.265) {97,837) 3.959 3,032 4,672 7.796 1.152 2.291,859 2 270,889 20,970 TOTAL FUNDS 2.620,827 2.613.793) 7.034 Britlsh Gas Energy Trust Project is funded by the British Gas Energy Trust. The purpose of the funding is to provide advice and assIstare to beneficiaries aimed at enabfing them to manage Iheir debtors and budgets going fomards. maximtse their Income and abllity to afford to pay their bills enabling people lo have wam homes through impr¢)ving energy efficrency and improving their health and wellbeing. Welsh Churches Act- Taff Street Capital Fund Funding from Rhondda Cynon Taf County Borough Counril to help wth development costs of the nw off Ponlypridd. Prescrlblng Advlce: Tler 2 fund This project is funded by Rhondda Cynon Taf County Borough Council lo provide welfare benefrt arKI debt advlce services to people with mental health and substance misuse Issues with Iheir carers. Homelessness preventlon This granl was awarded to provlde good quality focused finanoal advice and assistance to ensure that all necessary steps and actions are undertaken to help people remain in their own homes and have the financial resources to aesS suitable a¢commodation. Help to Claim - Face to fa¢¢ & telephone The project is fijnded by The Department for Work & Pensions lo provlde assistance through numerous ¢hanne15 ensuring that Universal Credit is the right benefit for the client. assessing Ihelr individual needs and support lo start making a Unlversal Credit claim. Page 26 eontinued...
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 21. MOVEMENT IN FUNDS - continued Informatlon Advlce Servl¢e- Core Funding The Infomialton and Advi seNi¢e delivers open access advt¢e and support to those who approach our 8ervlce lor help. It also supports the recruitment and development of our volunteers. without whom our service would be unable to function. Trussell Trust- Foodbank Helpline An InrVatwe national telephone line established to provide advi and support lo those who are accessing foodbank services across England and Wales. Advlcellnk - F2F l Debt & Beneflts Advlce l Baslc Income Pllot l A¢¢ess Partner Fundlng I Wlnter Capaclty Funding Funded via the Welsh Goverrbment Advicelink service, the project provides Speoalist debt advice, welfare benefit advlce to varying clients. Eneryy Savlng Trust- Energy R¢dre$s Scheme COVID-19 Crisis Fund The projecl, funded by the Energy Saving Trust, allowed us to provide support to dients using prepayment meters in Ihe fom of fuel vouchers. A critical fom7 of support during Ihe winter mnlhs of lockdown. Community Foundation Wales - Coronavirus Resilien¢e Fund The fund provrded financial support to cover the costs of additional equipment and WO to make our offi accessible in line with covid guidan. Allowing fa lo face services to be delivered lo those dienls in greatest need. Advicelink Cymru - Claim What's You A national programme funded by Welsh Govemment as part of the Adyicelink I Single Advt¢e Fund. Claim at's Yours provides a dedte2ted telephone line for the public to recerve income maximisalion. Volunteering Wales Fund The INCVA funded a volunteer development role within CARCT providing Ihe capacity to develop our volunteering offer alongside recruiting and developing new ¥olunteers Access to Justice Foundatlon - HALS The Famity Advice Service aims to help clients to get better attess to legal Supporl delivers advice on family law. The project És for dienls who are not entitled to legal aid and do not have a soltcitor. Help through Hardshlp A service delNered in collaboration with Trussell Trust and has been created to meet the need of ctients who for any reason are laang hardship. The Servi indudes a fijll assessment of advice needs focussing on income maximisation. identification of emergencies and then following the provision of advlce whether a referral for food provision is needed. Moondanee Foundatlon - Wales Energy Service Funding from the Moondance Foundation and olher funders to provide on&tOthone energy advice to fuel poor and vulnerable clients in Rhondda Cynon Taff. The charity provide support on fuel options. tariffs and energy grants, along with. advice on energy efficiency to help people to reduce their bills. The charity also provide advice and support with benefrt entitlement ¢heck8 and budgeting. Shared Prosperity Fund Connecting Communities wilh Advice is a single point of access advice service, funded by the UK Government in Wales. via Ihe Shared Pmsperity Community Grant. The project deliver5 in-person, tdephone and video-call advice sessions. from community venues across Rhondda Cynon Taff. Tru¥sell Trust- Foodbank Project The project is funded by the Trussel Tmst lo deliver in per30n advice in foodbanks in RCT and telephone advice for foodbanks in Llanelli. The project aims to address the reasons for food poverty by addresslng advice needs. The project is reliant on foodbank workers to signpost and make referrals into the $eNi¢e. Natlonal Grid - Energy Caseworker A specialist advice seNice providing energy advice and casework through a range of communty locations. Page 27 continued...
CITIZENS ADVICE RHONDDA CYNON TAFF LIMITED NOTES TO THE FINANCIAL STATEMENTS . contlnued FOR THE YEAR ENDED 31 MARCH 2024 21. MOVEMENT IN FUNDS . continued rfor ear desl nated funds.. Designated fund- Taff Street Development The fund has been sel up to fund refurbishment costs for the new office in Taff Street. Pontypridd. The fijnd was ulilised in full during the previous year Prior ear restricted funds". Smart Energy Belween May 2022 and December 2022, the charity dellvered a Be Smart About Energy Campaign, which aimed lo encourage people to be savvy about their energy usage. This involved providing infomiation and advi to people on benefits of smart melers, how they could help with energy and budgeling, enable more energy efficiency, incTea5e independence and help supplieTS to provide accurate bills. Transfers between fvnds: A transfer was made from restricted funds to unrestiicted lunds for £50,000 to cover restricted expenditure on fixed asset additions during the financtal year. A transfer was made from restricted funds to unrestricted funds for £25.421 relating to balances carried forward on restricted funds for AdVIrInk that were nol induded in 202&24 funding clawback. EMPLOYEE BENEFIT OBLIGATIONS 22. The charily operates a defined conlTibLrtion pension scheme. The assets of the scheme are held separalety from those of the charrfy in independentty administered funds. The pension cost charge represents contributions paid by the charity to the fijnd and amounted to £68.391 (2023: £59,241). Contributions outstanding at the year end amounted to £12.177 (2023: £21.802). 23. CAPITAL COMMITMENTS 2024 2023 Contraded but not provtded in the financial statements 177.457 The ave commttment is in respect of contractor worf(s for the refijrbishment of the new premises in Pontypridd. RELATED PARTY DISCLOSURES 24. The were no related party transactions for the year ende¢J 31 Marth 2024 that require disdosure. Page 28