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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 03727129 (England and Wales) REGISTERED CHARITY NUMBER: 1075210

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2021

for

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Contents of the Financial Statements for the Year Ended 31 March 2021

Page
Reference and Administrative Details/Strategic 4 to 6
Report
Report of the Trustees 7 to 11
Independent Examiner's Report 12
Statement of Financial Activities 13
Balance Sheet 14 to 15
Cash Flow Statement 16
Notes to the Cash Flow Statement 17
Notes to the Financial Statements 18 to 22
Detailed Statement of Financial Activities 23 to 24
Notes on Pension 25 to 27

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Reference and Administrative Details for the Year Ended 31 March 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Page 4

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Reference and Administrative Details

for the Year Ended 31 March 2021

The charity delivered services from two main offices, within the London Borough of Hounslow, situated in Chiswick and Feltham. The Trustee Board delegates the day-to-day running of the service to one Chief Executive, who oversees all outlets. Each of the bureaux also have their own Advice Session Supervisor. Last year, in total, on average, the charity employed 12 full-time (4-5 days per week) and 6 part-time (2-3 days per week) Advice Workers. In addition, the charity was supported by its trustees, honorary legal advisers and about sixty volunteers in various roles.

Reference and Administrative Details

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03727129 (England and Wales)

Registered Charity number 1075210

Registered office HOUNSLOW CABX SERVICE 2ND FLOOR, THE CENTRE HIGH STREET FELTHAM Middlesex TW13 4GU

Trustees B Mann Chairman G Pope Treasurer J K Murray Director C T Albrow Director M Gill Solicitor Director Andy Beetham Director EX Officio Aiman Elal Company Chief Executive Officer Annalisa Menini Head of advice service Martin Motz Volunteer Representative Ros Braine Volunteer Representative Nigel Harrison Volunteer Representative

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ........21.10.2021 ............... and signed on the board's behalf by:

Basil Mann..........................................................

Trustee Chairman

Page 6

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Reference and Administrative Details for the Year Ended 31 March 2021

During the year, the charity continued to work within its current 2018-2021 Business Plan. A risk assessment was carried out during the year and all policies, systems and procedures that had been established to mitigate any major risks were reviewed. The Business Plan is reviewed regularly at trustee board meetings.

COMPANY SECRETARY A Elal
REGISTERED OFFICE HOUNSLOW CABX SERVICE
2ND FLOOR, THE CENTRE
HIGH STREET
FELTHAM
Middlesex
TW13 4GU
REGISTERED COMPANY 03727129 (England and Wales)
NUMBER
REGISTERED CHARITY 1075210
NUMBER

Page 6

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Report of the Trustees for the Year Ended 31 March 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

STRATEGIC REPORT

Objectives and Activities

The charity's objects are to promote any charitable purpose for the benefit of the community in the London Borough of Hounslow by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress. There have been no changes in the charity's objectives or policies during the period.

In planning our activities for the year, we kept in mind the Charity Commission's guidance on public benefit at our trustee board meetings. The main activity of the charity is to provide free, to all individuals, an impartial and confidential service of information, guidance and support so that individuals do not suffer through ignorance of their rights and responsibilities or through an inability to express themselves. In order to meet these objectives the charity seeks funding, grants and donations from the local authority, local businesses, trusts and other sources.

The charity provides advice services from its two bureaux: Brentford & Chiswick (Chiswick Town Hall) and Feltham (The Centre). Advice services are also provided from various outreach venues within the London Borough of Hounslow, and by telephone from various locations.

We are indebted to our volunteers, without whom we could not operate. Most of our volunteers freely give us between 6-12 hours per week of their time. Generally, in the two offices, we have a total of approximately 60 volunteers working for over 600 hours per week. These volunteers carry out numerous tasks including advice work, social policy, IT, reception and administration duties. We are also indebted to our honorary legal advisers and trustees, who all give their time free of charge. Our work is very complex and the demands on our services are so great that it is essential to have a dedicated, stable and experienced staff team.

A record of strong achievements and performance

During the period the charity continued to provide services to the community in the area of the London Borough of Hounslow in accordance with the aims and principles of the service. These aims were achieved by providing information, advice and assistance on the rights and responsibilities of individuals. In 2020/21 we had to move our services to 100% virtual delivery due to Covid 19.

During the year targets were exceeded and 13,395 people received our services compared to 9,332 the year before. An impressive £8,514,894 (previous year £4,914,538) million of income gains were received by our clients through the provision of welfare benefits and money advice. Most of that money will have been spent in the local community thereby boosting the local economy.

Our partnership with local solicitors meant that free legal advice sessions continued to be held online, with additional weekly evening sessions held at our Feltham branch plus a monthly evening session at our Brentford & Chiswick branch. The total value of this pro-bono service was calculated to be £600,000.

Page 7

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Report of the Trustees for the Year Ended 31 March 2021

Hounslow CA is the main provider of advice and support to local people in need of help, and have been for the last 80 years. We have dealt with 41,002 client's issues, this averages just over 3 issues per clients. These cover the whole spectrum of issues - from problems claiming disability benefits, to dealing with rent arrears and threatened homelessness, to redundancy rights and immigration cases. The vast majority of our services are provided by a group of highly trained volunteers, normally over 60 strong, supported by a small team of paid staff. Unfortunately, and due to Covid 19, the number of active volunteers has dropped from 60 to 15.

When the pandemic first struck we knew that people would need our help more than ever so we quickly mobilised our team to switch many of our advisers to working from home. We have managed to have telephone calls and emails diverted to advisers at home meaning that we can continue to be there for those who need us most.

We continued to provide urgent help to local people during the current pandemic, which has been incredibly challenging. Covid-19 has impacted 70% of our clients. Nationally, 1 in 5 people have had to claim benefits; 4 out of 10 people have lost income because of this crisis, with nearly 1 in 10 losing 80% of their income. The number of Universal Credit claimants has doubled with 20,000 extra claims per day. Here in Hounslow we have been particularly badly affected because of our proximity to Heathrow airport, which more than 43,000 Hounslow residents rely on for their livelihoods. The number of Hounslow residents out of work through no fault of their own kept rising and our welfare benefits enquiries got more complex with social welfare law updating rapidly.

Since the pandemic, there has been just over 70% increase in the number of clients seeking our help. Between April and May 2020 for example, Covid 19 was mentioned as a reason for presenting issues in more than 70% of the cases. This trend continued throughout the year.

Despite all the challenges, Hounslow Citizens Advice Bureaux Service was available to clients on five days per week, through our advice line, webchat and email direct referral. Our advisors carried out Gateway interviews, an initial triage screening process, gave initial advice and made telephone appointments and referrals. All emergencies were dealt with on the day.

Focusing on helping people through the Covid crises meant we needed to focus on Universal Credit and welfare issues, employment and housing. We extended our Research and Campaign work, which remains a core aim of Citizens Advice towards making society fairer. This work starts by recording problems our clients need our help with. We do this by completing Electronic Bureau Evidence Forms on our case-recording system, casebook or by keeping a manual log. Our Research and Campaign Co-ordinator then collates all the forms and starts tracing the trends that emerge from them. We use this data to campaign for change and social justice. By flagging these issues to the local and national policymakers, to MPs and Councillors, we can get laws and policies changed.

Financially, Hounslow Citizens Advice, needed to generate additional financial support to cope with additional increase in spending directly resulted from Covid. We diverted resources for that purpose and we were successful to maintain our strong financial position.

Page 8

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

We continued to adhere to the good policies and practices recommended by Citizens Advice for the recruitment and training of staff. All of our staff, paid and voluntary, attended regular training sessions and training was, as always, on-going. In-bureau training for new volunteers had to be moved to online. All staff were supervised and supported by experienced staff members within the service and all case recording was monitored. Citizens Advice also provided support systems, for example, AdviserNet and the Expert Advice team consultancy service for advisers plus the Operations team and the Relationship Management team for management. In addition online support is also provided via the Bureau Management Information System (BMIS) and CABlink.

All these activities have enhanced the charity's efforts in helping to eradicate poverty in the community by taking the necessary information, advice and assistance out to the disadvantaged individuals whilst the main financial support from the London Borough of Hounslow has enabled us to maintain our existing services in the bureaux by providing the essential staff and accommodation to support these services.

Financial review

Our biggest financial support came from LB Hounslow that run from April 2020 to March 2024. In addition, our Feltham office is provided by the LB Hounslow, giving a rent subsidy, in kind, at an estimated value of approximately £15,000 per annum, Citizens Advice Help to claim, City Bridge Welfare benefit specialist work.

The remainder of our income came from Citizens Advice, Thames Water Trust, EU settlement Scheme, London Community response, CAF, H&I Foundation, and London Catalyst. We also received some small Donations. At this point we would like, and on behalf of our Clients, to register our thanks to all our funders.

For the year 2020-2021 we are showing an overall surplus. This was due to us having increased our funding activities, and delays in recruitment to vacant positions. Our analysis of potential financial commitments identifies that we should provide financial cover for both our long-term pension liability and reserves for contingencies and capital.

On behalf of our clients in most need, our advisers apply to charities on their behalf, for emergency grants for essential items, for example, food, clothing, beds and cookers etc. We are most grateful for this help that is given to our clients and would like to thank the London Catalyst Samaritan Fund and the Isleworth and Hounslow Charity for their continued support.

Risk management

The trustees have a risk management strategy which comprises

" an annual review of the risks the charity may face;

" the establishment of systems and procedures to mitigate those risks identified in the plan; and " the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.

This work has identified that financial sustainability is the major financial risk for the charity. Attention has also been focussed on non-financial risks arising from fire, health and safety of employees and the public. A key element in the management of financial risk is via a reviewed reserves policy and the retention of sufficient working capital by the charity. The board of trustees, considers the financial stability of the organisation as main factor in its desire to ensure organisational sustainability, as such, it’s policy to hold at least three months of free reserves has been affirm during these uncertain times

Plans for future periods

Page 9

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Our main aim for the future is to continue to be able to provide high quality information, advice and assistance from all our offices and as many outreach venues as our resources will allow. We are continually looking for additional suitable venues to further expand these sessions and negotiations are continuing with more organisations.

We will also continue to work in partnership with other agencies and local solicitors that wish to provide free advice sessions from our premises. We will also continue to give Debt advice, specialist Welfare Benefit advice through, Housing and immigration as standalone projects.

Next year, as always, fundraising will have a high priority within our workload. We will continue to apply for any projects, large and small, that become available and that enable us to further enhance our funds and services. This year, we applied for a grant from Trust for London for Money Advice Project and Nationwide Trust to help prevent homelessness, we are excited to deliver these projects and more. We also applied to various other trusts including City bridge continuation fund, and many more, we are still awaiting decisions.

We offer advice in several languages. These are provided by our very diverse complement of staff and volunteers and Language line contracted services, when needed, and we continue to recruit and train more volunteers from all sections of the community to further improve our service delivery.

Client Profile data is collected regularly in order to monitor the changing face of our local community. It is then used to target any unmet need within that community.

We regularly carry out Client Satisfaction surveys, so that we can obtain feedback and monitor the quality of our services and ensure that we are meeting our aims.

We will continue to adhere to the good policies and practices recommended by Citizens Advice.

Structure, governance and management

The charity is constituted as a company limited by guarantee and was incorporated on 02 March 1999. During 2020-2021, the charity was governed by its memorandum and articles of association. The charity is a member of Citizens Advice (the operating name for the National Association of Citizens Advice Bureaux).

The charity is administered by a Trustee Board, which is made up of trustees (voting members) and officers (non-voting ex officio staff members) as described below. It is responsible for ensuring that all bureaux offices are properly staffed, have adequate premises, proper equipment and the necessary finance to maintain the service to the community. All trustees are elected each year at our Annual General Meeting and are required to sign a 'Register of Interests' form. New trustees are sought when needed and sometimes for special skills that may be required for an effective board. In order to maintain a board that is representative of our local community and to encourage involvement from any groups that we feel may not be represented, nominations are sought by placing articles in the media, sending out mail shots and approaching other agencies and organisations. Any prospective new trustee is interviewed by two of our existing trustees and the CEO, and, after we have checked for any conflict of interest, s/he is invited to observe at the next trustee board meeting. With the agreement of the board, s/he is then invited to become a trustee and co-opted at the following meeting. All prospective trustees are sent an induction pack, which informs them about the role of a trustee and the responsibilities of a trustee board. The pack also gives a very good breakdown of the structure of our local service, the areas of work covered by us and a good picture of the CAB service as a whole. All new trustees attend induction courses run by Citizens Advice and our Local Authority (Hounslow).

Page 11

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the year 2020/2021 and signed on its behalf by:

.......................................................... Basil Mann Chairman

Page 11

Independent Examiner's Report to the Trustees of HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Independent examiner's report to the trustees of HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FFA FIPA which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Yasir Iqbal FFA FIPA

Date: 04/11/2021

Page 12

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Statement of Financial Activities for the Year Ended 31 March 2021

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
37,893
Charitable activities
3
Charitable activity
325,000
Total
362,893
EXPENDITURE ON
Charitable activities
4
Charitable activity
237,756
NET INCOME
125,137
RECONCILIATION OF FUNDS
Total funds brought forward
149,116
TOTAL FUNDS CARRIED FORWARD
274,253		 Restricted
fund
£
9,390
547,353
556,743
356,634
200,109
39,097
239,206		 31.3.21
Total
funds
£
47,283
872,353
919,636
594,390
325,246
188,213
513,459		 31.3.20
Total
funds
£
19,424
613,059
632,483
548,005
84,478
103,735
188,213

The notes form part of these financial statements

Page 13

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Balance Sheet

31 March 2021

CURRENT ASSETS
Unrestricted
fund
Notes
£
Debtors
9
2,346
Cash at bank and in hand
400,310
402,656
CREDITORS
Amounts falling due within one year
10
(28,685)
NET CURRENT ASSETS
373,971
TOTAL ASSETS LESS CURRENT
LIABILITIES
373,971
CREDITORS
Amounts falling due after more than one
year
11
(99,718)
NET ASSETS
274,253
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
-
239,206
239,206
-
239,206
239,206
-
239,206		 31.3.21
Total
funds
£
2,346
639,516
641,862
(28,685)
613,177
613,177
(99,718)
513,459
274,253
239,206
513,459		 31.3.20
Total
funds
£
2,346
295,886
298,232
(10,301)
287,931
287,931
(99,718)
188,213
149,116
39,097
188,213

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 14

continued...

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Balance Sheet - continued

31 March 2021

The financial statements were approved by the Board of Trustees and authorised for issue on ..21/10/2021. and were signed on its behalf by:

............................................. Geoff Pope – Treasurer/Director

The notes form part of these financial statements

Page 15

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Cash Flow Statement
for the Year Ended 31 March 2021
Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Change in cash and cash
equivalents in the reporting
period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the
end of the reporting period		 31.3.21
£
328,523
328,523
343,630
295,886
639,516		 31.3.20
£
88,223
88,223
84,478
207,663
295,886

The notes form part of these financial statements

Page 16

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Notes to the Cash Flow Statement for the Year Ended 31 March 2021

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement
of Financial Activities)
Adjustments for:
Increase in debtors
Increase in creditors
Net cash provided by operations
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.20
£
Net cash
Cash at bank and in hand
295,886
295,886
Total
295,886		 31.3.21
£
325,246
-
3,277
328,523
Cash flow
£

343,630
343,630
343,630		 31.3.20
£
84,478
18,917
(15,174)
88,223
At 31.3.21
£
639,516
639,516
639,516

The notes form part of these financial statements

Page 17

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Notes to the Financial Statements for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing 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 measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 18

continued...

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Notes to the Financial Statements-continued
for the Year Ended 31 March 2021
2.
DONATIONS AND LEGACIES
Gifts
Donations
Donated services and facilities
3.
INCOME FROM CHARITABLE ACTIVITIES
Activity
LB Hounslow lot/Core
Charitable activity
Thames Water Trust
Charitable activity
EU Settlement Scheme
Charitable activity
LBH Debt Advisory
Services
Charitable activity
Big Lottery Grant
Charitable activity
City Bridge
Charitable activity
Trussel Trust
Charitable activity
London Catalyst
Charitable activity
Charities Trust
Charitable activity
London Community
Response WAVE
Charitable activity
CAB-Universal help to
claim
Charitable activity		 31.3.21
£
(1)
13,690
33,594
47,283
31.3.21
£
325,000
33,244
61,037
16,000
45,000
50,850
70,791
5,000
50,000
81,994
133,437
872,353		 31.3.20
£
(1)
4,425
15,000
19,424
31.3.20
£
365,000
33,244
38,509
122,756
-
52,050
-
1,500
-
-
-
613,059

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continued...

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

4. CHARITABLE ACTIVITIES COSTS

4.
CHARITABLE ACTIVITIES COSTS
Charitable activity
5.
SUPPORT COSTS
Information
technology
£
Charitable activity
34,670		 Other
£
17,097		 Direct
Costs
£
500,389
Other 2
£
42,228		 Support
costs (see
note 5)
£
94,001
Other 3
£
6		 Totals
£
594,390
Totals
£
94,001

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

Trustees' expenses paid for the year ended 31 March 2021 were £6 and for the year ended 31 March 2020 were £28.

7. STAFF COSTS

Wages and salaries
The average monthly number of employees during the year was as
No employees received emoluments in excess of £60,000.		 follows:
31.3.21
20
31.3.21
£
463,933
463,933		 31.3.20
18
31.3.20
£
447,118
447,118

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continued...

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted
fund
fund
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
19,424
-
Charitable activities
Charitable activity
365,000
248,059
Total
384,424
248,059
EXPENDITURE ON
Charitable activities
Charitable activity
333,079
214,926
NET INCOME
51,345
33,133
RECONCILIATION OF FUNDS
Total funds brought forward
97,771
5,964
TOTAL FUNDS CARRIED
FORWARD
149,116
39,097
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21
£

Accruals
1,125
Deposit held
230
Prepayments
991
2,346		 Total
funds
£
19,424
613,059
632,483
548,005
84,478
103,735
188,213
31.3.20
£
1,125
230
991
2,346

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continued...

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21
£
Trade creditors
1,044
Social security and other taxes
2,233
Accrued expenses
25,408
28,685
11.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.21
£
Trade creditors
99,718
12.
MOVEMENT IN FUNDS
Net
movement
At 1.4.20
in funds
£
£
Unrestricted funds
Restricted funds
Restricted Funds
39,097
200,109
TOTAL FUNDS
188,213
325,246
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
362,893
(237,756)
Restricted funds
Restricted Funds
556,743
(356,634)
TOTAL FUNDS
919,636
(594,390)
General fund
149,116
125,137		 31.3.21
£
Trade creditors
1,044
Social security and other taxes
2,233
Accrued expenses
25,408
28,685
11.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.21
£
Trade creditors
99,718
12.
MOVEMENT IN FUNDS
Net
movement
At 1.4.20
in funds
£
£
Unrestricted funds
Restricted funds
Restricted Funds
39,097
200,109
TOTAL FUNDS
188,213
325,246
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
362,893
(237,756)
Restricted funds
Restricted Funds
556,743
(356,634)
TOTAL FUNDS
919,636
(594,390)
General fund
149,116
125,137
(594,390)

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 22

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

INCOME AND ENDOWMENTS
Donations and legacies
Gifts
Donations
Donated services and facilities
Charitable activities
LB Hounslow Lots I,2,3
Thames Water Trust
EU Settlement Scheme
LBH Debt Advisory Services
Big Lottery Grant
City Bridge
Trussel Trust
London Catalyst
Charities Trust
London Community Response WAVE
CAB-Universal help to claim
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Premises provided by LB Hounslow
Citizens Advice Subscriptions
Reference Materials
Telephone
Postage and stationery
Travelling
Training		 31.3.21
£
(1)
13,690
33,594
47,283
325,000
33,244
61,037
16,000
45,000
50,850
70,791
5,000
50,000
81,994
133,437
872,353
919,636
463,933
15,000
8,002
195
10,307
2,236
716
-
500,389		 31.3.20
£
(1)
4,425
15,000
19,424
365,000
33,244
38,509
122,756
-
52,050
-
1,500
-
-
-
613,059
632,483
447,118
15,000
6,026
1,052
10,416
6,498
2,842
820
489,772

This page does not form part of the statutory financial statements

Page 23

HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

Support costs
Information technology
Other
Hounslow AGM
Insurance
Citizens Advice conference
Bank Charges
Consultancy
Sundries
Payroll services
Other 2
Independent Examiners Fees
Repairs and maintenance
Rent & Service Charge- Chiswick
Rent & Service Charge- Hounslow
Office Equipment
Recruitment
Cleaning
Other 3
Trustees expenses
Total resources expended
Net income
Brought forward
IT Software
IT equipment
Website costs		 31.3.21
£
34,670
-
1,823
-
95
7,404
6,503
1,272
17,097
1,500
23,181
12,500
150
2,871
1,284
742
42,228
6
594,390
325,246
11,084
2,235
13,721
7,630		 31.3.20
£
25,901
469
1,819
457
127
420
5,048
1,275
9,615
950
3,450
12,203
112
1,576
458
3,940
22,689
28
548,005
84,478
9,801
373
15,727
-

This page does not form part of the statutory financial statements

Page

FRS 102 disclosures for the 12 months ended 31 March 2021

Pension cost note

Citizens Advice ('the Principal Employer') operates a defined benefit scheme ('the Plan') in the UK which provides both pensions in retirement and death benefits to members. Pension benefits are related to the members' final salaries at retirement and their length of service at the date they retired or left pensionable service. The Plan closed to future accrual on 31 March 2008. The Plan also contains some money purchase AVCs and protected rights funds, which are not included in these disclosures.

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

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

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

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

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

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

The major assumptions used by the actuary were (in nominal terms) as follows:

As at
31/03/2021
As at
31/03/2020
Discount rate
2.10%
2.40%
Inflation (RPI)
3.30%
2.80%
Inflation (CPI)
2.80%
2.00%
Revaluation of deferred pensions in excess of GMP
2.80%
2.00%
Pension in payment increases of:
- CPI or 5% p.a. if less
2.80%
2.00%
- CPI inflation since retirement or 5% p.a. compound if less
2.80%
2.00%
- CPI or 3% p.a. if less
2.50%
1.90%
Commutation of pension for cash at retirement
75% of HMRC maximum
75% of HMRC maximum
As at
As at
31/03/2021
31/03/2020
Assumed life expectancies on retirement at age 65 are:
Retiring today - Males
Retiring today - Females
Retiring in 20 years time - Males
Retiring in 20 years time - Females
21.2
24.1
22.6
25.7
21.2
24.1
22.6
25.6
Value at
Value at
31/03/2021
31/03/2020
£000s
£000s
The assets in the Plan were:
Multi asset funds
72,995
61,086
Structured Equity
24,849
24,279
Cash

1,509

594
Fair value of Plan assets
99,353
85,959
The actual return on assets over the period was:
14,282
188
Present value of funded obligations
161,415
140,310
Fair value of Plan assets

99,353

85,959
Surplus/(deficit) in funded scheme
(62,062)
(54,351)
Present value of unfunded obligations
0
0
Unrecognised actuarial gains (losses)
0
0
Adjustment in respect of asset ceiling and minimum funding requireme
0

0
Net liability in balance sheet

62,062
54,351		 As at
31/03/2021
As at
31/03/2020
Discount rate
2.10%
2.40%
Inflation (RPI)
3.30%
2.80%
Inflation (CPI)
2.80%
2.00%
Revaluation of deferred pensions in excess of GMP
2.80%
2.00%
Pension in payment increases of:
- CPI or 5% p.a. if less
2.80%
2.00%
- CPI inflation since retirement or 5% p.a. compound if less
2.80%
2.00%
- CPI or 3% p.a. if less
2.50%
1.90%
Commutation of pension for cash at retirement
75% of HMRC maximum
75% of HMRC maximum
As at
As at
31/03/2021
31/03/2020
Assumed life expectancies on retirement at age 65 are:
Retiring today - Males
Retiring today - Females
Retiring in 20 years time - Males
Retiring in 20 years time - Females
21.2
24.1
22.6
25.7
21.2
24.1
22.6
25.6
Value at
Value at
31/03/2021
31/03/2020
£000s
£000s
The assets in the Plan were:
Multi asset funds
72,995
61,086
Structured Equity
24,849
24,279
Cash

1,509

594
Fair value of Plan assets
99,353
85,959
The actual return on assets over the period was:
14,282
188
Present value of funded obligations
161,415
140,310
Fair value of Plan assets

99,353

85,959
Surplus/(deficit) in funded scheme
(62,062)
(54,351)
Present value of unfunded obligations
0
0
Unrecognised actuarial gains (losses)
0
0
Adjustment in respect of asset ceiling and minimum funding requireme
0

0
Net liability in balance sheet

62,062
54,351		 As at
31/03/2021
As at
31/03/2020
Discount rate
2.10%
2.40%
Inflation (RPI)
3.30%
2.80%
Inflation (CPI)
2.80%
2.00%
Revaluation of deferred pensions in excess of GMP
2.80%
2.00%
Pension in payment increases of:
- CPI or 5% p.a. if less
2.80%
2.00%
- CPI inflation since retirement or 5% p.a. compound if less
2.80%
2.00%
- CPI or 3% p.a. if less
2.50%
1.90%
Commutation of pension for cash at retirement
75% of HMRC maximum
75% of HMRC maximum
As at
As at
31/03/2021
31/03/2020
Assumed life expectancies on retirement at age 65 are:
Retiring today - Males
Retiring today - Females
Retiring in 20 years time - Males
Retiring in 20 years time - Females
21.2
24.1
22.6
25.7
21.2
24.1
22.6
25.6
Value at
Value at
31/03/2021
31/03/2020
£000s
£000s
The assets in the Plan were:
Multi asset funds
72,995
61,086
Structured Equity
24,849
24,279
Cash

1,509

594
Fair value of Plan assets
99,353
85,959
The actual return on assets over the period was:
14,282
188
Present value of funded obligations
161,415
140,310
Fair value of Plan assets

99,353

85,959
Surplus/(deficit) in funded scheme
(62,062)
(54,351)
Present value of unfunded obligations
0
0
Unrecognised actuarial gains (losses)
0
0
Adjustment in respect of asset ceiling and minimum funding requireme
0

0
Net liability in balance sheet

62,062
54,351
85,959

188
140,310
85,959
(54,351)

0
0

0
54,351

Reconciliation of opening and closing balances of the present value of the defined benefit obligation

This page does not form part of the statutory financial statements

31/03/2021

31/03/2020

Page

Fair value of Plan assets at beginning of year
Interest income on Plan assets
Return on assets, excluding interest income
Contributions by employers
Contributions by Plan participants
Benefits paid and expenses
Business combinations
Settlements
Exchange rate
Fair value of Plan assets at end of year
Service cost - including current and past service costs, and settlement
Service cost - administrative cost
Net interest on the net defined benefit liability
Total expense
Actuarial (gains)/losses on the liabilities
Return on assets, excluding interest income
Changes in the effect of the asset ceiling excluding interest income
Total remeasurement of the net defined benefit liability (asset) to
be shown in OCI
Reconciliation of opening and closing balances of the fair value of Plan assets
The amounts recognised in profit or loss:
Remeasurements of the net defined benefit liability (asset) to be shown in OCI:
Benefit obligation at beginning of year
Current service cost
Interest cost
Contributions by Plan participants
Actuarial (gains)/losses
Benefits paid and expenses
Past service cost
Settlements
Business combinations
Exchange rate
Benefit obligation at end of year		 31/03/2021
£000s
31/03/2020
£000s
85,959
2,052
12,230
3,549
0
(4,437)
0
0
0
88,882
2,183
(1,995)
2,549
0
(5,660)
0
0
0
31/03/2021
£000s
31/03/2020
£000s

0
652
1,270
1,922
0
866
1,366
31/03/2021
£000s
31/03/2020
£000s
21,568
(12,230)
0
9,338
(2,823)
1,995
0
144,378
866
3,549
0
(2,823)
(5,660)
0
0
0
0
140,310
652
3,322
0
21,568
(4,437)
0
0
0
0

This page does not form part of the statutory financial statements

This page does not form part of the statutory financial statements

Page

Page 20
2020/21
Amount
2.10%
10,500
Year
Year
2022
1 100.00%
10,500
2021
1
2023
2 97.94%
10,284
2022
2
2024
3 95.93%
10,073
2023
3
2025
4 93.96%
9,865
2024
4
2026
5 92.02%
9,662
2025
5
2027
6 90.13%
9,464
2026
6
2028
7 88.28%
9,269
2027
7
2029
8 86.46%
9,078
2028
8
2030
9 84.68%
8,892
2029
9
2031
10 82.94%
8,709
2030
10
2032
11 81.23%
8,530
2031
11
2033
12 79.56%
8,354
2032
12
2034
13 77.93%
8,182
2033
13
2035
14 76.32%
8,014
2034
14
2036
15 74.75%
7,849
2037
16 73.22%
7,688
2019/20
Amount
2.40%
8,400
100.00%
8,400
97.66%
8,203
95.37%
8,011
93.13%
7,823
90.95%
7,640
88.82%
7,461
86.74%
7,286
84.70%
7,115
82.72%
6,948
80.78%
6,785
78.89%
6,626
77.04%
6,471
75.23%
6,319
73.47%
4,629

144,413

99,718

This page does not form part of the statutory financial statements

Page