REGISTERED COMPANY NUMBER. 03727129 (England and Wales) REGISTERED CHARITY NUMBER. 1075210 Re ort of the Trustees and Financial Statements for the Year Ended 31 March 2024 Tor HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE GILL & CO Chartered Certrfied Accountants & Registered Auditors 94 Heston Road Heston iddlesex TW5 OQP
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Contents of the Financial Statements for the Year Ended 31 March 2024 Page Reference and Administrative Details Report of tlie Trustees 5 to 10 Report of the Independent Auditors 11 to 13 statement of Financial Activities 14 Balance Sheet 15 to 16 Cash Flow Statement 17 Notes to the Cash Flow Statement 18 Notes to the Financlal Statemonts 19 to 26 Detailed Statement of Financial Activities 27 to 28 Appendix A - FRS 102 disclosures 29 to 32
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Reference and Adminislrative Details for the Year Ended 31 March 2024 The trustee8 who are also directors of the charity for the purposes of the Compi411ies Act 2006, present their report with the financial statements of the charlty for the year ended 31 March 2024. The trustees have adopted the provisions of Accouiiting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standdrd applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) -he charity delivered services from two main offices, within the London Borough of Hounslow, situated in Chiswick and Fettham. The Trustee Board delegates the day- to-day rLinning of the service to one Chief Executive, who oversees all outlets, Each of the bureaux also have tlieir own Advice Session Supervisor. Last year, in total, on average, the charity employed 12 full-time (4-5 days pei" 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 charit! is controlled by its governing document. a deed of trust, and constitutes ti 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 TW134GU Trustees J K Murray C T Albrow Brenda Otto G Pope M Gill Solicitor Director Co-chair Director Co-chair Director Treasurer Director Director EX Officio Aiman Elal Company Chief Executive Officer Annalisa Menini Head of Advice Service
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Reference and Administrative Details for the Year Ended 31 March 2024 Report of the trustees, incorporating a strategic report. approved by order of the board of trustees. as the company directors, on beha by.. and signed on the board's John Murray Trustee Co-chaimian Chris Albrow Trustee Co-chalrman During the year. the charity contlnued to work wlthin its current 2023-2025 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 ragularly at trustee board meetings. COMPANY SECRETARY A Elal REGISTERED OFFICE FIOUNSLOW CA8X SERVICE 2ND FLOOR, THE CENTRE HIGH STREET FELTHAM Middlesex TW134GU REGISTERED COMPANY NUMBER 03727129 (England and Wales) REGISTERED CHARrrY NUMBER 1075210 INDEPENDENT AUDITORS GILL & CO 94 Heston Road Heston Middlesex TW5 OQP
HOUNSLOW Cl I IZENS ADVICE BUREAUX SERVICC Re ort of the Trustees for the Year Ended 31 March 2024 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 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities prep21ing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). STRATEGIC REPORT Introduction The 2023124 financial year marked a crucial period for Citizens Advi Hounslow. The continued impact of the cost~of-livinq crisis has placed tremendous strain on residents, niaking our seNiGes moro. vital than ever. Over the past yeai-, tlie soaring demand for advice and practical support has under8GoI'ed both the I'esilience of our community and the indispensable role we play in providing essential safety nets for I'hos'e facing hardship. Through our dedicated efforts, we have supported thousands of vulnerable individuals and families, helping them navigate complex and challenging circumstances, resulting in truly life-changiiig outcomes. Objectives and Actlvlties The chan'ty's core objective is lo pi'omole chaiitable activities thal benefrt the cominunity within the London Borough of Hounslow, focusing on the advancement of education, protection and preservation of health, and the relief of poverty, sickness, and distress. These objectives remained unchanged throughout the year, as we continued lo sgrve our community wilh a steadfasl commitment to improving the quality of life for residents. In planning our activities, we were mindful of the Charity Coinmission's guidance on public benefit, which was carefully considered during our trustee board meetings. The primary activity of the charity is to provide free, impartial, and confidential advice, guidance, and suppuit to all individtials. Our goal Is to ensure that no one suffers due to ignorance of their rights or I'espoiisibilities. or fi-om an inability to express themselves. To achieve this, we actively sought fundiiig, grants, and donations from the local authority, businesses, trusts, and other sources. )ur advice services are delivered fi'om two key bureaux in Brenlford & Chiswick (Chiswick Town Hall) and Feltham (rhe Centrel, as well as from several oulreach venues across the London Borough of Houiislow. These locations allowed us to maintain a strong, accessible presence wilhin the community. Indebted to Our Volunteer8 and Staff We owe a great deal of gratitude to our volunteers. without whom the charity could not operate as successfully as it does. Mosl of our volunteers generously give between 6-12 hours per week, contributing heir time and expertise across a range of roles including advice work, social policy, reception, and administration. In total, we benefit from the efforts of around 25 volunteers, who togetlier contribute over 270 hours of work per week. Our volunteers are truly the backbone of our organization, working alongside our honorary legal advisers and trustees, who also provide their time free of charge. Their dedicalion enables us to serve our community with the professionalism and care that our clients deserve. We also acknowledgo the oulslanding commitment and hard work of our staff. The complexity of the work we undeilake, coupled with the high demand for our services, necessitates a dedicated, stable, and experienced team. Our staff have conlinuously risen to the challenge, providing a high standard of advice and support despite the increased pressure on our services. Together, our volunteers and staff have formed a resilienl, compassionate team. enabling us to achieve record results in a particularly challenging year.
A Record of Strong Achievemeiits and Performance Throuohoul the year, Ihe charity remained sleaoyasl in providing services to the community in alignment Iwith our coi"e aims and principles. We ensured that individuals had access to information, advice, and support regarding their rights and responsibilities. Despite facing significant challenges due to the ongoing cost-of-living crisis, we surpassed our targets, assisting 15,143 unique clients with 66,957 issues and exceeding all our key performance indicators (KPIS). Notably, our efforts resulted in recorded financial outcomes of £15,081,456, making a tangible diff@rence in the lives of local residents. This success was made possible by the dedication and commitment of our staff and volunteers, whose contributions were instrumental in delivering these outstanding results. Our partnership with local solicitors further enhanced oui. service delivery, allowing us to continue offering free legal advice sessions reinotely. The total value of this pro-bono service is estimated to be f600.000, represeiiting a significant contribution to the legal support available to our clients. Financial Outcomes The financial oains achieved through our work are both vast and impactful. In 2023124, we secured over £15 million in financial benefits foi- our clieiits almost double the previous year's total. These gains were achieved through diligent advice and casework support, iiicluding.. £11.66 niillion in benefits income gains, supporting individuals in accessing critical financial support. £2.97 million in debts written off, Providing debt relief to those struggling under unmanageable financial burdens. £95,425 in reimbursements for clients, and £56,069 in repayments rescheduled, reducing immediate financial pressures. Beyond these hard financial outconies, our interventions also yielded significant improvements in clients, overall well-being. The financial support we helped secure often provided a critiGal lifeline. ensuring that individuals could meet essential living costs, avoid homelessiiess, and regain some control over their financial futures. Additionally, tlie lono-term impaGI of Ihese gains cannol be underslaled. Securing financial stability for our clients not only helps them loday but also creales a foundalion for a more stable future, reduclng reliance on emeruency support services and empowering individuals to regain control over their lives. Challenges Faced In 2023124 The past year has been defined by mounting challenges, both in the issues our clients fa and in the capacity of our services to meel unprecedented demand. Key challenges include.. Rising Demand Amid Resource Constiaints The surge in demand for our services has pushed us to our limits. The number of clients W8 SUPPOrt6d nearly doubled compared to pre-pandemic levels, stretching our resources thin. Our advisers often faced ovenwhelming caseloads, dealing with increasingly complex and interrelated issues. Cli6nts who uqed to require help with one or two problems now present with four or five, often spanning multiple areas such as benefits, housing, and debt. Complexity of Cases The cases we handle have become significantly more CDmplicaled. As people fall deeper into financial hardship, their problems become harder lo untangle. Our advisers frequently engage in intensive casework, requiring multiple appointments, detailed form-filling, and protracted negotiations with third parties. Many of our clients lack tlie digital literacy or language skills lo access support independently, placing additional burdens on our team to act as intermediaries on their behalf. Increased Vulnerability Vulnerable groups, including individuals with disabilities, single-parent houseliolds, and those from ethnic minority backgrounds, have b8en disproportionately affected by the economic downturn. Mental health issues related to financial stress have been prevalent, with 25 % of our clients reporting mental health challenges. This has required us to take a more holistic approach, addressing both the financial and emotional well-being of Glients.
Limited Capacity to Meet Demand While our services have expanded, including the introduction of our Mobile Advice Unit and increased outreach at foodbanks and cornmunity centers, we have still been uiiable to nieet tlie full scale of demand. Clients often faced long wait times for fa-to-faCe appointnients, and our phone lines were consistently oversubscribed, with waitlists extending several weeks. Without additional funding, we rislc being unable to provide timely assistance to those who need it most. Looklng Ahead As we progress into the next financial year, Cilizens Advice Hounslow anticipates a significant rise in demand for our services. The ongoing Universal Credit Managed Migration is set to bring additional complexity to benefil claims, with more residents seeking assistance durin9 the transition. This shift will add pressure on our existing resources, as clients face challeng&s understanding and navigating the new system. Moreovei", we expect further detnand as a result of the Winter F uel Payments and the potential reform of Councll Tax Support. These upcoming changes may place added financial strain on vulnerable households, particularly those already struggling to cope with rising living costs and energy prices. With fuel poverty conlinuing to be a pressing issue, our services will be essential in helping G'lients access tho suppoit they need to meet these challenges. In response to these aiiticipated increases, we recognize the urgent need to expand our capacity and secure addrfional fuiidino to meet Ihe orowing demand. Without further inveslm8nt, our ability to deliver timely, high-quality advice to all those in need could be coinpromised. Citizens Aclvice Hounslow remains commilted to providing critical support to the local community. However, we foresee that the continued pressures of the cost-of-living crisis, coupled with Ihe introduction of welfare re'forms, will necessitate innovative solutions and additional resources to ensure we can meet the needs of all those who turn to us in the coming year. We will need to expand OLir capacity, both in terms of pei'soniiel and outreach services, to continue meeting the demand. This includes increasing the number of advisers, investing in staff training to handle complex cases, and enhancing our outreach seivices, particularly through Èhe Moblle Advice Uiilt, to @nsure those In hard-to-reach areas receive timely support. With ongoing pressures on public services and increasing financial hardship across the borough, Citizens Advice Hounslow remains dedicated to advocating for our clients and ensuring that no one in our community is left behind. Fiiiancial review Our biggest financial support came from LB Hounslow that run from April 2020 to March 2024. In addilion, our Feltham office is provided by the LB Hounslow, giving a rent SLJbsidy. in kind, at an estimated value of approximately £15,000 per annum, Citizens Advice Help to claim. Help through Hardship, Welfare benefit, Trust for London, Lottery, Henry Smith Trust Money advice. The remainder of our incoine came from Citizens Advice, Thames WaterTrust, GLA. We also received oome 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 2023-2024 we are showing an overall surplus of £18,412. 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-tei'ill pension liability and resprves for contingencies and capital. On behalf of our clients in most need, our advisers apply to charities on their behalf, for emergency grants for essenlial 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, skinner trust for their continued support.
Risk management The trustees have a risk management strategy which compi'ises an annual review of the risks the charity may face,. the establishment of systems and procedures lo miligate those risks idenlified in the plan" and the implementation of proceduyes designed to minirnise 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. Atl'ention has al80 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 reseeS policy and the retention of sufficient working capital by the charity. Plans for future perlods Our principal objective for the forthcoming period is to continue providing high-quality information, advice, and support services from all our offices and outreach venues, expanding our reach wherever resources permit in order to meet the increasing needs of the community. We will maintain and strenolhen partnerships with exteriial agencies and local solicitors offering pro bono advice services from our facilities. A key focus will remain on delivering specialist support, particularly in the areds of debt advice. welfare benefits, housing, and health-each of which will continue to operate as Standalone projects to address these critical needs. Fundralsing will remain a strategic priority, as actively seek funding opportunities, large and small, to enhance our services. This will enable us to address the escalating demand driven by increasing fin8ncial pressures on th6 community. We take pride In offering muttilingual advice services, made possible by OLir diverse team of staff and volunte@rs. alongside the support of Language Line. To further strengthen our service delivery, w& will continue to recruit and train volunteers from across all segments of the community. ensuring that our Norkforce reflects the diversity of those we serve. We regularly collect Client Profile dala to monrtor the evolving demographics of our local community. This data enables us to identify and respond to unmet needs more effectively. In addition. we conduct frequent Client SatisfaGtioii surveys to ensure the quality of our services is consistently evaluated and that our objectives are being met. Through these initiatives, we aim to continuously adapt and improve. ensuring that Citizens Advice Hounslow remains an essential and responsive resource for the local community. Structure, governance and management The charity is constituted as a company limited by guarantee and was incorporated on 02 March 1999. Dui'ing 2023-2024, Ihe rharity was governed by ils memorandum and aitsicles of association. The charity is a member of Cltizens Advice (the operating name for the National Association of Citizens Advic8 Bureaux). The chawity 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 adequale premises. proper equipment and the necessary finance to maintain the service to the community. All trustees are elected each year at our Annual Genei"al 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 I'equired for an effective board. In order to maintaiii a board that is representative of our local community and to encourage involvement fiDm anv 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, slhe is invited to observe at the next trustee board meeting. With *he agreement of the board, slhe is then invited ID become 2 trustee and co-opted at the following meeling. 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). The charity delivered services from two main offices, within the London Borough of Hounslow, siluated in Chiswick and Feltham. The Trustee Board delegates the day-to-day running of the service to one Chief Executive, who oversee all outlets. Last year, in total, on average, the charity employed 38 full-time (4-5 days per week} and part-time (2-3 days per week) Advice Workers. Iii addition, the charity was supported by its trustees, honorary legal adviseFs and about 25 volunteers in various roles. Govefning document The charity is controllecl by its governing document, a deed of trust, and conslitutes a limited company, limited by guarantee, as defined by the Companies Act 20
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Re ort of the Trustees for the Year Ended 31 March 2024 STRATEGIC REPORT STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document. a deed of trust, and constitutes a limited company, Ilm ited by guarantee, as defined by the Companies Act 2006. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of HOUNSLOW CITIZENS ADVICE BUREAUX SER VICE for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting StarMJards {Unlted Kingdom Generally Accept&1 Accounting Practice}. Com pany law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of th8 charitable company and af the incoming resources and application of resources, including the income and expenditure, of the charItae company for that period. In preparing those financial statements, ihe trustees are required to select suitable accounting policies and Ihen apply them consistently; observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeplng proper accounllng records which disclose wllh reasonable accuracy at any time the financial position of the charitable compary and to enable them to ensur6 that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assels of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's audilors 8re unaware,. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. AUDITORS Mohamtned Iqbal Gill, of GILL & CO will be proposed for re-appointment at the forthcoming Annual General Meeting. The trustees who are also directors of the charity for the purposes Act 2006, present their report with the financial statements of the . and signed on its behalf by.. John Murray & Chris Albrow om aniGs Chris Albrow Trustee Co-chairman haTrman 10
HOUNSLOW CITIZENS ADVICE BUREAUX SERVIGC ort of the Inde endent Auditors for the Year Ended 31 March 2024 ort of tho Inde endent Auditors to the Members of HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Opinion We have audited the financial stalements of HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE (the 'charitable company'} for the year ended 31 March 2024 which comprise the Statement of Financial Activities: the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting StandaTd8 (United Kingdom Generally Accepted Accounting Practic&). In our opinion the financial statements.. give a true and fair view of the state of tho charitable co1iipanS affairs as at 31 Marc'h 2024 and of its incoming resources and application of resources, including its result, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been L)repared in acGordance with the requirements of the Companies Act 2008. Elasis for opinlon We conducted our audil in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those slandaids are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requiyements Ihat are relevant to our audit of tlie financial statements in the UK, including Ihe FRC'S Ethical Standai'd, and w& have fulfilled oui. other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained 18 sufficient and appropriate to provide a basis for our opinion. Conclugions relatliig to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accountlng in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncortainties relating to events or conditions that, individually or collectively, may casl significant doubt on the charitabl8 company's ability to continue as a going conrn for 8 period of al leasi twelve months from when the financial statements are authorised for issue. Our responslbilitles and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other informatlon The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other infomiation and. except to the extent othernise explicitly stated in our report, we do not express any form of assuran conclusion thereon. fn connection with our audit of the financial Slatements, our responsibilily is to read the other information and, in doing so, consider whether the olher inforination is malerially inconsistent with the financial statements or our knowledge obtained in the audil or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent malerial misstatements, we are required to determine whether this gives rise to a material misslatement in the financial staternents themselves. If, based on the work wo have performed, we conclude that Ihere ig a material misstatement of this other infomiation, we are required to report that facl. We have nothing to report in this regai'd
ort of the Inde endent Auditors to the Members of HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Oplnions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees for the financial year for which the financial statements are Drepared is consistent with the Financial stateinents,. and Ihe ReDOrt of the Trustees has been Drepared sn accordance with at)plicable legal requirements. ,Vlatters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatenients in the Report of the Ti'ustees. We have nothing to report in respecl of the following malteKs where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accountino records have not been kepl or returns adequate for our audit have iiot been received from branches not visited bv us., or .'he financial statements are nol in agreemenl with the accounting records and returns., or -ertain disclosures of Irustees, remuneration specified by law are not made,. or 'Ne have not received all the information and exDlanations we require for our audit. Responslbllitles of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustee8 (who are also the airectors of the charitable company for the purposes of company law) are responsible for the preparation of the financial stateinents and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to eiiable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing Ihe financial stalemenls. Ihe truslees are responsible for assessing the charitable company's 3bility to continue as a ooing concern, disclosing, as applicable, matters related to going concern and usiiig the going conc&rn basis of accountino unless Ihe Iruslees either intend to liquidate the charitable company or lo cease operations, or have no realistic alternative but to do so. Our responslbllitles for the audlt of the financlal statements Our obiectives are to oblain reasonable assurance about whether the financial statements as a whole are re& from material misstatement, whether due to fraud or error, and to 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 ISAS (UK) will always detect a matei'ial misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. IrregLfjlarities, including fraud, are inslances of non-compliance with laws and regulations. We design procedures in line with Dur responsibilities. outlined above, to detect material misstatements in respect of irreoularilies, including fraud. The extenl to which our procedures are capable of deteGting irregularities, including fraud is detailed below.. A further description of our responsibilities for the audit of the financial statements is located on the Financial R&porting Council's website at www.frc.org.uldauditorsresponsibilities. This description forms part of our Report of the Independent Auditors 12
I.SLaiuLtsllLUsliLoEdLLp_Won)o.15 91 F40U Uthool our rbport l-lil$ rirypoII Is ii14do solÈily lii11)? cliBI Iltsl)Ir) ci)ifr)l)nlly'4 InUliil)oig, s1.4 .'4 lJiJiJ}I , Iii :ii,'¢'.i)r(laii(.'rt villli fth4iilf*f 3 i)1 I'.bg1'111i (Jf Ilio I'nn71)8iilièA Act ?Ollb. l)111- ÉiiJrJ51 I'iiiik l)n.8 hAan Iindftrl.9kNii tfj Ihril yjo rril(Jhl 1710 Ir) ¢lIAI'llAI)Ii? r.l)lllPkll)y'4 nii)iiil)ttr411i1)40 117111014 vJ¢i oro r¢>iiiiSrod lo r,lsJl<• lo thom in ?In Aiftclllor%' iftprjil dnfl Ifjr 10 011)pi' ovi-pnsè. Tn Ilin lullft$l oxleiil iTrotnilllLid by14w. k•ip. d() ii()l ir.'rp.[)l or ¥ri¢SPf)n%lhililii lo .)iivorie Olhi)r Ih41) 11)0 I:l)ii¥lliil)l(> roiiii)ai)y ijiiil 11)ft Llidrll#l)lo (J)mi)¥iny'.g ino¥nb8rJ F?# A borly, Ifjf oiif ¢iiJdil ¥k, ti!i- Ihlpii roi)orl, (sr Inr 11)¢} 01)iiili)iia wo l)avi! lurrT?tsiI. ,Mol)Èmmed lobBI Gill Sialulory Aiidltor GILL & LO L118rl81'ed C¢)rtlfled Accounlanls & reglslered Auditors 94 H&stoii Road Hesloii Middlesex IN5 OQP 8t6.. Note; Thg malnt8nance and integrity of the HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE webslle Is the responslblllty of the Iruslees; the work carrled oul by the audltors does not Involv6 consideratlon of these matters and, accordlngly, Ilie audllors accept no responslbllily for 8ny Changes that m8y have occurred lo th6 Ilnanclal slatements slnce they wore Snltlally presentgd on the websile. Legislallon In the Unlted Klngdom gov8rnlng thè preparalion and dls$eminalion ol financial statements may differ from legislation iii other jurisdiclions.
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 Total funds Unrestricted fund 31.3.23 Total funds Restricted nd Notes INCOME AND ENDOWMENTS FROM Donations and legacies 21,403 34,921 56,324 139 Chayltable activlties Charitable activity 414,797 676,767 1,091,564 1,083,450 Total 436,200 711,688 1,147,888 1,083,589 EXPENDITURE ON Raising funds 10 Charitable actlvitles Charitable activity 428,687 700,789 1,129.476 1,075,091 Total 428,687 700,789 1,129,476 1,075,101 NET INCOME 7,513 10,899 18,412 8,488 Transfers between funds 15 50,413 27,574 50 Net movement In funds (42,900) 38,473 (4,427> 8,438 RECONCILIATION OF FUNDS Total funds brought fornard 488,174 200,546 688,720 680,282 TOTAL FUNDS CARRIED FORWARD 445 274 239 019 684,293 688,720 The notes foTm parl of these financial statements 14
HOUNSLOW CITIZENS ADVICE BUREAUX SERVIC BalanGe Sheei 31 March 2024 Unrestricted Restricted fund fund 31.3.24 31.3.23 Total Total funds funds Notes FIXED ASSETS Tangible assets 11 16,042 38.473 54,515 CURRENT ASSETS Debtors Prepayments and accrued income Cash at bank and in hand (950) 4,690 650 103 950 4,690 839,199 189.096 4,255 913 823 653,843 190,046 843,889 918,078 CREDITORS Amounts falling due within one year 12 (7,126) (7,126) (12.098) NET CURRENT ASSETS 646.717 836 763 905 980 TOTAL ASSETS LESS CURRENT LIABILITIES 662,759 228,519 891,278 905,980 CREDITORS Amounts falling du8 after more than one year 13 (133,284) ACCRUALS AND DEFERREO INCOME 14 RETIREMENT HEALTHCARE BENEFITS OBLIGATIONS 10,500 (122,784) (116,327) (84.202) (100,933) (84,202) NET ASSETS 445,274 239,019 684 293 688,720 15
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Balance Sheet - continued 31 March 2024 FUNDS Unrestricted funds Restricted funds 15 445,274 239,019 488,174 200.546 TOTAL FUNDS 684.293 688,720 The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by: Brenda Otlo - Treasurer Trustee The notes form part of these financial statement 16
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Cash Flow Statement for the Year Ended 31 March 2024 31.3.24 Notes 31.3.23 Cash flows from operating activities Cash generated from operations 15,831 Net cash provided byl(used in) opeialing activities 25.450 15,831L Cash flows from Investlng activltles Purchase of tangible fixed assets Net cash (used in)Iprovided by investing activities 60,573 60,573 Chaiige in cash and cash equlvalents In the Yeporting perlod Ca8h and cash equlvalents at the beginnlng of the reporting perlod Cash and cash equivalents at the end of the reportlng period (35,123) (15,831) 913,823 879,845 839,199 913,823 The notes form part of these financial statements
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Notes to the Cash Flow Statement for the Year Ended 31 March 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 Net Income for the roportlng period las per the Statement of Financial Actlvities) Adjustments for.. Depreciation charges Increa8el(decrease) in creditors 18,412 8,488 6,058 980 {24 319 Net cash provided byl(used In) operatlons 1b,831) ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank and in hand 913 823 74,624 839,199 913,823 74,624 839,199 rotal 913 823 839,199 The noles form part of these financial statements 18
HOUNSLOW CITIZENS ADVICE 8UREAUX SERVICE Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparino the financlal statements The financial statetnents of the charilable company, which is a public benefit entity under FRS 102, have been prepared in accordance wilh the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommeiided Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 4021 (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard aDplicable in the UK and ReDublic of Ireland, and the Companies Act 2006. The finanGial statements riave been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlemGnt to the funds, it is probable that the income will be received and the amount can be measured reliably, Expenditure Liabilities are recognised as expendiluTe as soon as Ihere is a legal or constructive obligation cominitting the charity to that expendilure. it is probable Ihat a ti'ansfer of economic benefit8 will b6 ."equired in settlement and the amount of Ihe 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 dii'ectly attributed to particular headings they have been allocated to activities on a basis consislenl with the use of resources. Tangible fixed assets Depreciation is provided at the following aniiu81 rates in order to write off each asset over its estimated useful life. Motor Vehicles- 10 years straight Line Method Taxatlon The charily is exempl from corporalion tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the chaTitable objectives at the discretion of the Irustees. Restricted funds Gan 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 puq)ose of each fund is included in the notes to the financlal statements. Pension costs and other post-retirement benefits The charitable company operates a defined conlribution pension scheme. Contribution8 payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. continued.... 19
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Notes to the Financial Statements - continued for the Year Ended 31 March 2024 DONATIONS AND LEGACIES 31.3.24 31.3.23 Gifts Donations Innovation Fund Cost of Living 1,201 43.123 12,000 230 3,000 3,230 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 LB Hounslow Activity Thames Water Trust Charitable activity Charitable activity EU Settlement Scheme Charitable activity CAB-Help through ,4ardship Kickstart Charitable activity City Bridge Charitable activity Trust for London Charitable activity Lottery Grant Charitable activity Henry Smith Grant Charitable activity GL4 Advice Bureau Charitable activity Charitable activity Charitable activity 415,000 19,930 421,500 33,244 16,000 235,220 223,510 5,126 44,177 45,467 44,143 23,400 16,000 40,165 61,183 64,770 35,125 34,500 CAB-Help to Claim 185 671 207 792 1091564 1080 359 Grants received, included in the above, are as follows: 31.3.24 31,3.23 continued.... 20
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Notes to the Financial Statements - continued for the Year Ended 31 March 2024 RAISING FUNDS Raising donations and legacles 31.3.24 31.3,23 Support Gosts 10 CHARITABLE ACTIVITIES COSTS Support costs (see note 6) Direct Costs Totals Charitable activity 1,045 483 83,993 1,129 476 SUPPORT COSTS Information Human Depreciation techno5ogy resources Other Charitable activity Governance costs Other 2 Other 3 Totals Charitable activity 24.806 4,296 NET INCOMEI(EXPENDITURE) Nel incomel(exp&nditure) is slated afler chargingl(crediting): 31.3.24 31.3.23 Auditors, remuneratlon 3,500 3,000 Depreciation - owned assets 6,058 21 continued....
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Notes to the Financial Statements - continued for the Year Ended 31 March 2024 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remLiner3lion or olher benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the yeai. ended 31 March 2023. STAFF COSTS 31.3.24 31.3.23 Wages and salaries Social security costs Other pension costs 908,918 78,218 19,593 881,712 76,285 17.967 1,006,729 975,964 The average monthly number of employees during the year was as follows.. 31.3.24 36 31.3.23 35 One employee received emoluments in excess of £60,000. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies Charltablo actlvitles Charitable activity 54 85 139 411,709 671,741 1,083,450 Total 411.763 671,826 1,083,589 EXPENDITURE ON Raising funds 10 10 Charltable actlvlties Charitable activity 408,547 666,544 1.075,091 Total 408,557 666,544 1,075.101 NET INCOME 3,206 5,282 8,488 continued.... 22
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Notes to the Financial Statements - continued for the Year Ended 31 March 2024 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted Restricted fund fund Total funds Transfers between funds 4,282 4,332) Net movement in funds 7,488 950 8,438 RECONCILIATION OF FUNDS Total funds brought fonNard 480.686 199,596 680.282 TOTAL FUNDS CARRIED FORWARD 488 174 200,546 688,720 11. TANGIBLE FIXED ASSETS Motor vehicles COST Additions DEPRECIATION Charge for year NET BOOK VALUE At 31 March 2024 At 31 March 2023 continued.... 23
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Notes to Ihe Financial Statements - continued for the Year Ended 31 March 2024 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3,23 Trade creditors Social security and other taxes Pension creditOT Accrued expenses 501 (330) 3,460 3,495 5,323 3,785 2,990 7,126 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.24 31.3.23 Trade creditors Household Fund Project Samaritan fund 122,669 110,331 5,050 946 115 122,784 116327 14. ACCRUALS AND DEFERRED INCOME 31.3.24 31.3.23 Accruals and deferred income 100,933 15. MOVEMENT IN FUNDS Net Transfers movement between in funds funds At 31.3.24 At 1.4.23 Unrestrlcted funds General fund 488,174 7,513 (50,413) 445,274 R88tricted funds Restricted Funds 200,546 10,899 27,574 239,019 TOTAL FUNDS 688,720 18,412 22,839 684 293 24 continued....
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Notes to Ihe FinanGial Statements - continued for the Year Ended 31 March 2024 15. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as Follows: Incoming Resources Movement resources expended in funds 'Jnre8trlcted funds General fund 436,200 (428,687) 7,513 Restricted funds R6Stricted Funds 711.688 (700,789) TOTAL FUNDS Comparatives for movement In funds Net Transfers movement between in funds funds At 31,3.23 At 1.4.22 Unrestrlcted funds General fund 480,686 3,206 4,282 488,174 Restricted funds Restricted Funds 199,596 5,282 (4,332) 200,546 TOTAL FUNDS 680,282 8 488 a50) 688,720 Comparative net movement in funds, inGluded In the above are as follows.. Incoming Resources resources expended Movement in fLJnds Unrestrlctsd tunds General fund 411,763 (408,557) 3,206 Restricted funds Restricted Funds 671,826 (866,544) 5,282 TOTAL FUNDS continued.... 25
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Notes to the Financial Statements - continued for the Year Ended 31 March 2024 15. MOVEMENT IN FUNDS - continued A current year 12 monlhs and prior year 12 months combined po8Stion Is as follows: Net movement in funds Transfers be£ween funds At 31.3.24 At 1.4.22 Unrestrlcted funds General fund 480,686 10,719 (46,131) 445,774 Restrlcted funds Restricted Funds 199,596 16,181 23,242 239,019 TOTAL FUNDS 680,282 22,889) 684 793 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming Resources resource8 expended Movement in funds Unrestrlcted funds General fund 847,963 (837,244) 10,719 Reslrlcted funds Restricted Funds 1,383,514 (1,367,333) 16,181 TOTAL FUNDS 2 231477 2,204,577) 26,900 16. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. 26
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations and legacles Gifts Donations I nnovation Fund Cost of Living 1,201 43,123 12,000 56,324 228 3,230 Charitable actSvities LB Hounslow Thames Water Trust EU Settlement Scheme CAB-Help through Hardship Kickstart City Bridge Trust for London Lottery Grant Henry Smith Grant GLA Advice Buraeu CA8-Help to Claim 415,000 19,930 421,500 33,244 16,000 223,510 5,126 40,165 44,177 61,183 45,467 64,770 44,143 35,125 23,400 34,500 16,000 185 671 207 792 1,091,564 1,080,359 235,220 Total Incomlng resource8 1,147,888 1,083,589 EXPENDITURE Charitable activities Wages Social security Pensions Local Authority Subscriptions Reference Materials Telephone Travelling Training & Welfare Off ice expenses Translation Services 908,918 78,218 19,593 14,722 1,155 7,288 2,628 5,217 881,712 76,285 17,967 10,411 1,072 7,397 1,940 492 ]J 1,334 2,663 7,076 1,045,483 1,007,015 This page does not form part of the statutory financial statements 27
HOUNSLOW CITIZENS ADVICE BUREAUX SERVICE Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Support costs Depreciatlon Motor vehicles-Depreciation 6,058 Informatlon technology IT Support IT Software IT equipment Website costs 10,838 355 5,247 1,061 17,501 6,854 322 4,261 12,455 Human resources HR And Employment support Other Insurance Bank Charges Consultancy Sundrieslsubscriptions Payroll services Motor running expenses 5,667 322 5,086 80 2,003 905 2,264 1,956 8,546 4,530 2,113 15,762 17,210 Othor 2 Independent Examiners Fees Repairs and maintenance Rent & SeNice Charge- Chiswick Office Equipment Recruitment Cleaning 950 5,397 9,132 1,739 585 5,202 23,005 9,759 10,341 24,806 Other 3 Postage and stationery 4,296 4,814 Governance costs Auditors, remuneration Accountancy fees Legal fees 3,500 5,965 438 9,903 3,000 7,119 161 10,280 Total resources expended 1,129,476 1075 101 Net income 18,412 This page does not form part of the statutory financial slatements 28
Appendix A - FRS 102 disclosures for the 12 months ended 31 March 2024 Pension cost note Citizens Advice ('the Principal Employer,) operales a defined benefit scheme ('the Plan,) in the UK which provides bolh pensiDns in retirement and death benefils to members. Pension benefits are related to the members, final salaries at retiremenl and their length of service at the date they retired or left pensionable servicè. 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 disGlosures. In accordance with the schedule of contributions agreed by the Employer and Trustee in August 2023, the contributions to the Plan for the year ending 31 March 2024 have been £5,218,000, which includes £4.918,000 towards the deficit and £300.000 as an allowa11 for administration expenses and all scheme levies. Tlie Plan is a registered scheme under UK legislalion. The Plan is subject to the scheme funding reqLJirements outlined in UK legislalion. The Plan is governed by the Plan's Trust Deed and Rules dated 4 April 2011. The Trustee is I'esponsible for the operalion and the governance of the Plan, including making decisions regarding the Plan's funding investmenl slrategy (afthough they are required to consult the Principal Employer). An actuarial valuation of the Plan was carried out as at 31 March 2024 by a qualified independent actuary, bas&d ut)on membership data as at 31 March 2022, allowing for assumed meinbership movements over the period from this date. and any material Membership movemenis significantly different from those assumed (e,g. transfers out). The most recent formal actuarial valuation of the Plan was as at 31 March 2022 and revealed a funding cleficit of £53.536,000. In the recovery plan agreed following tlie valuatioii, the Principal Einployer aiid other participating employers agreed to pay deficit reduction contributions of £2,918,000 per annum with the view to eliminating the deficit by 30 September 2040. The liabilities of the Plan are based on Ihe 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 11 years. The Plan is exposed to actuarial risks such as market (inveslment} risk, interest rate risk, inflation risk, currency risk and longevity risk. The major assumptlons used by the actuary were (In nominal term8 as follows: Asat 3110312024 Asat 3110312023 Dlscount rate Inflation assumption (RPI) Inflation assumption (CPI) Revaluation of deferred pensions in excess of GMP Pension in payment increases of.. CPI or 5% p.a. if less CPI inflation since retirement or 5 % p.a. compound if less CPI or 30/0 p.a. if less 4.80% 3.300/0 3.200/0 2.800/0 2.80Q/o 2.85. 2.800 2.850/0 2,85Yo 2.500/0 2.50Q/o Commutation of pension for cash at retirement 75% ofHMRC maximum This page does not form part of the statutory financial statements 29 750/0 of HMRC maximum
Asat 3110312024 Asat 3110312023 Assumed Ilfe 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 20.6 23.4 20.8 23.6 22.0 24.7 21.8 24.5 Value at 3110312024 £OOOs Value at 3110312023 £OOOs The assets in the Plan were: Multi asset funds StruGtured equity and LDI Cash Fair value of Plan agsèts 33,448 1,100 60,594 35,116 726 60,745 The actual return on assets over the perlod was: 307 {37,084) Present value of funded obligations Fair value of Plan assets Surplu81(deficlt) In funded schema 107.082 60,594 (46,488) 111,189 60,745 (50,424) Present value of unfunded obligations Unrecognised actuarial gains (losses) Adjustment in respect of asset ceiling Net Ilabillty In balance sheet 46.488 50,424 Reconclllatlon of openlng and closing balances ot the present value of the deflned beiiefit obli atioii 3110312024 £OOOs 3110312023 £OOOs Benefit obligation at beginning of year Current service cost Interest cost Contributions by Plan participants Actuarial (gains)Ilosses Benefits paid and expenses Past service cost Settleinents Business Gombinations Exchange rate Benofit obllgatlon at end of year 111,169 693 5,250 148,768 832 4.074 (5, 729) (5,876) 1,375 (35,041) (7,464) 107,082 111,169
Reconciliation of opening and closing balances of the fair value of Plan assets 3110312024 £OOOs 3110312023 £OOOs 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 Falr value of Plan as¥ets at end of year 60,745 2,905 (2,598) 102,214 (39,885) (5,676) (7,464) 60,594 60,745 The amounts recognised In profit or Ios8: 3110312024 £OOOs 3110312023 £OOOs Servlce cost - Inc. current & past service costs, settlements Service cost- administrative cost Net interest on the net defined benefit liability Total expense 1,375 693 2,345 4,413 832 1,273 2,105 Remeasurements of the nat defined benefit IAabllity {a8set) to be shown In OCI: 3110312024 3110312023 Actuarial (gains)Ilosses on the liabilities Return on assets, excluding interest income Changes in the effect of the asset ceiling excluding interest income Total I'emeasurement ot the net defined beneflt liability lasset) to bè shown in OCI (5,729) 2,598 (35,041) 39,885 13.131) 4,844 This page does not form part of the statutory financial statements 31
LCA Name Hounslow 2023124 4.90% 10.500 2022123 2022123 AMot 10.500 4.80% 10.500 Amovi)t Year 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 203ti 2037 2038 2039 2040 2041 100.00% 10.500 95.330/0 10.010 90.88QP 9.S42 86.630/0 9.096 82.58% 8,671 78.73% 8.266 75.05% 7.880 71.540/0 7.512 68.20rh> 7.161 6.827 6.508 6,204 5.914 5.638 6.374 5.123 2.442 Year Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 21MO 2041 100.000/0 10.500 95.42ty1ty 10.019 91.05814 9.560 86.88Yo 9,122 82.90Vty 8,705 79.1011/0 8.306 75.48% 7.926 72.02V 7.562 68.72% 7.216 65.58% 6.886 62.57% 6.670 59.71•10 6.269 5.982 6.708 6,447 5.197 4.959 2.366 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 203S 2036 2037 100.00% 10,500 95.42°/0 10.019 9.560 9.122 8,705 8.306 7.925 7.562 7.216 6.886 6.570 6.269 5,982 5.708 82.900 79. IOO/o 76.48Vt* 10 11 12 13 14 15 16 17 61.9801 59.08% 56.32010 10 68.720/0 65.58010 62.57010 59.710/0 10 11 12 13 14 12 13 14 15 16 17 18 51.19% 48,79% 46.51% 54.36Yo 51.87% 49.60% 47.23% 45.07% 54.36% 122 669 128 300 This page does not form part of the statutory financial ststements 32