Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF Company registration number: 03836106 Charity number: 1077414 TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) WEDNESDAY A20 AEHM4QTS 17/12/2025 COMPANIES HOUSE
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Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A.company limited by guarantee) CONTENTS Reference and administrative details of the Charity, its Trustees and advisers Trustees' report Independent auditors' report on the financial statements Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements Page 1 2-11 12 - 15 16 17 18 19 - 32
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU • (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees Antony Egunjobi Tim Wade Malcolm Parry (resigned 12 December 2024) Kevin Grix Jamie Lyons (resigned 31 March 2025) James Hurley Mathew Lawson Tracey Valentine Sarah Neilson Andrew Cheung (resigned 14 February 2025) Paul Extance Olufemi Oladiran Company registered number Charity registered number Principal and Registered office Chief executive officer Independent auditors • 03836106 1077414 Sixth Floor Daneshill House Danestrete Stevenage Hertfordshire SG1 1HN C Blizzard-Welch Menzies LLP Chartered Accountants Statutory Auditor Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP Page 1
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025 STRÚCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity was formed as a company limited by guarantee on 3rd September 1999 (Company Number: 03836106). The full name of the charity is Stevenage Citizens Advice Bureau and was registered with the Charity Commission on 15th September 1999 (charity Number: 1077414). 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. Citizens Advice Stevenage is governed by its Articles of Association which replaced its previous Memorandum and Articles of Association and were passed by the company in general meeting by special resolution on 9th March 2018. Article 3.1 of the Articles of Association reads: "The Charity is established for the promotion of any charitable purposes for the public benefit by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress, in particular, but without limitation, for the benefit of the community in the Borough of Stevenage and surrounding areas." Recruitment and appointment of trustees The charity is governed through a trustee board. Trustees who have held office during the year are listed on page 3. The Articles of Association provide for a minimum of four and a maximum of twelve elected trustees, with not more than 3 additional Trustees, who are co-opted at any time. The trustees meet 4 times per year with additional quarterly meetings for the sub-committees listed below. The board is supported by a network of sub-committees, covering Finance and Policy, Staffing and Premises and Development. The Chief Executive attends all of these. The sub committees report to the full Board meetings. The Chief Executive Officer also attends the main Board meetings but does not have voting rights. As stated in the Articles of Association, one third of the elected trustees for the time being or if their number is not three or a multiple of three, then the number nearest one third shall retire from office. A retiring elected trustee shall be eligible for re-election by the members. An elected trustee may not continue to serve after nine years in office unless the Board resolves in exceptional circumstances that the relevant elected trustee may serve for an additional term of up to three years. Nominees appointed by Stevenage Borough Council are subject to the appointment processes of the Borough Council. The trustees who have served during the year can be seen on the previous page. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The organisation is co-ordinated from its office in Stevenage Trustee induction and training New trustees are briefed on their legal obligations under charity and company law, the content of the Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. The comprehensive induction to Citizens Advice Stevenage includes visits to the organisation, appropriate reading material, training courses and meeting key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the understanding of their role. This is all enshrined in a written induction process. Organisation Structure Citizens Advice Stevenage is a member of Citizens Advice, the operating name of the National Association of Citizens Advice Bureaux, which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the Board of Directors in order to fulfil its charitable objects and comply with the national membership requirements. Page 2
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 • Citizens Advice Stevenage is governed by its Trustee Board, which is responsible for setting the strategic direction of the organisation and the policy of the charity. The Trustees carry the ultimate responsibility for the conduct of the Bureau and for ensuring that the charity satisfies its legal and contractual obligations. The Trustee Board is independent from management. A register of members' interests is maintained. at the registered office and is available to the public. At present the Board has 9 members with voting rights and 1 non-voting member who is nominated by Stevenage Borough Council, shown on page 1 as Representative Trustee. The Chief Executive of the organisation has been appointed by the trustees to manage the day-to-day operations of the charity. In addition, there is an experienced team of paid staff and volunteers who are key to the service offered by the charity. Decisions are made by the trustee board in line with the Business Strategy and are reviewed at least annually. The Senior Management Team meet to review progress against targets and the Charity's financial position and to discuss issues referred to them by the trustee board. Reports and recommendations are then taken to the full board for approval, and their implementation is organised by the Chief Executive and the staff team. There are regular staff, volunteer meetings and senior management team meetings which ensure that progress is being made against targets. There is an Annual General Meeting, which involves the staff team, trustee board, members, and other stakeholders. Pay and Remuneration of Key Management Personnel The trustees consider that the board of trustees and the senior management team (SMT) comprișe the key management personnel of the charity: The charity's senior management team are all paid in accordance with comparable rates used in the voluntary sector. Any increases to these rates are approved by the trustee board. The chief executive's salary is reviewed and approved by the trustee board separately but in line with the policy set out above. Complaints We received 10 formal complaints and 7 informal complaints during the year. All complaints are carefully investigated by the Advice Quality and Operations Manager and a full response sent to the individual clients. The Board also review complaints annually or sooner if required Key risks and Uncertainties The trustees, having had consideration to and mindful of the risk factors for the charity, identify the following Threats and changes in our operating landscape and conditions could stop us from achieving our mission? A. Funders' financial stability/ health Volunteering Challenges Economic downturn/factors Revisions to our National Membership Key partner strategic changes Trustees' plans and strategies for managing these risks: A. Succession Planning: Develop a robust succession plans to ensure that key roles can be filled promptly in the event of unexpected departures. Talent Retention: Implement strategies to improve staff satisfaction and retention. This could include a salary progression framework and professional development opportunities. . B. Diversify Funding Sources: Reduce reliance on major funders by diversifying our funding sources. Financial Due Diligence: Conduct thorough due diligence on potential funders to assess their financial stability. Regularly review and evaluate the financial health of existing funders. C. Engagement Programs: Develop comprehensive volunteer engagement programs that recognise and reward volunteers for their contributions Recruitment Strategies: Implement a recruitment strategy to attract a diverse pool of volunteers. Leverage online platforms, community outreach, and partnerships with educational institutions. Match opportunity to volunteers motivation and likely length of service. Financial Resilience Planning: Develop contingency plans and financial resilience strategies to navigate economic downturns. This could involve creating a financial reserve, adjusting budgets, and identifying cost-control measures. Page 3.
- Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3ВАА4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Diversify Revenue Streams: Explore alternative revenue streams that are less susceptible to economic fluctuations This might include fee-for-service programs, social enterprise initiatives, or income-generating activities.. E. Engagement with consultations and coproduction: Ensure we remain engaged with the Local Service Offer engagement opportunities and conduct planning exercises to anticipate potential challenges the withdrawal of existing elements of the local service offer. Develop contingency plans that outline steps to be taken in case of different scenarios, including key service offers being withdrawn. F. Diversify Partnerships: Similar to funding sources, diversify our partnerships to. reduce dependence or isolation. Develop relationships with multiple partners and sectors that share our mission. Continuous Communication: Maintain open and transparent communication with key partners. Regularly check in to understand their strategic plans and anticipate any changes that might impact our collaboration. Factors that are likely to affect the financial performance or position in 2025/26 and further years: Local offices traditionally depend on a mix of funding sources and the trend is for more commissioned services rather than grants that are more flexible. This mix of funding can be positive, minimising the risk to financial stability. However, receiving short-term pots of money from multiple funders brings an increase in demand for resources, both in maintaining relationships and reporting requirements, as well as the continual need to seek new funding. With an increasingly competitive funding environment, we have ensured we are providing a compelling high value offer to funders. Maintaining relationships with existing funders has been key to securing continuation and additional funding for the services we provide for our community. We have also been looking for new opportunities to provide the information and advice people need for new and emerging advice needs identified through analysing advice trends, horizon scanning and partnership working. • Last years focus was to move to the new structure which took resource away from securing new funding. This means the CEO and Head of Impact and Development need to take a proactive approach to prioritise fundraising this year. • We continue to face issues with the high demand for our service from clients and the specialised nature of our work means that recruitment and training can take time which requires senior staff to focus upon the day to day demands of the service rather than development. With regards to volunteers the role of adviser at Citizens Advice Stevenage is increasingly aligned to that of a magistrate, which makes our ability to attract new volunteers harder, and a requirement to find the resource to put more paid staff at the front line: • There are many economic hits facing the nation which is anticipated to drive up demand significantly. The political environment remains uncertain, the impact of key national developments is still very much an 'unknown quantity' but has the potential to impact on our position. This year we are preparing for the cuts to disability benefits. We are clear that these cuts will force many disabled people into further poverty and hardship, and in turn increase demand on our • A possible increased competition in an ever changing voluntary sector marketplace - we know that the voluntary sector is becoming a much more competitive sector, particularly as funding becomes ever harder to access; as a result we are seeing organisations diversifying their service offer and moving further towards our 'core market. OBJECTIVES AND ACTIVITIES Objectives The charity's purposes, as set out in the objects contained in the Company's Articles of Association, are to promote any charitable purpose for the benefit of the whole community of Stevenage and surrounding areas ("the area of benefit") by the advancement of education, the protection of health and the relief of poverty, sickness and distress. The charity's objects are defined as above. Our aims are focused on: Page 4
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 .. To provide the advice people need for the problems they face, and To improve the policies ard practices that affect people's lives Our service provides free, independent, confidential and impartial advice to everyone on their rights and responsibilities We value diversity, promote equality and challenge discrimination. We also conduct Research and Campaigns to help gather evidence to influence policy change and to ensure individuals do not suffer through a lack of knowledge or an inability to express their needs effectively. This translates into the main charitable activity of providing advice by telephone and face to face, to the general public. Ensuring our work delivers our aims We have a locally developed business strategy, which we use to ensure we deliver on our aims and objectives. This strategy is reviewed quarterly to measure our achievements and outcomes. Together with the success of individual key projects and the benefits that have been born from them. In carrying out the review, we are ensuring that our aims objectives and activities are in line with our stated purpose. Our main objectives for the year have been developing our staffing structure so that it really meets the needs of the clients we are trying to support. HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT Our main activities and who we try to help are described below. All our charitable activities focus on providing the advice people need for the problems they face and are undertaken specifically to provide public benefit. The board of trustees have had due regard to the Charity Commission guidance on public benefit and have complied with the duty in section 4 of the Charities Act 2011. ACHIEVEMENTS AND PERFORMANCE Advice and Information Services The principal activity of Citizens Advice Stevenage remained the provision of free, confidential, independent and impartial advice and information for members of the public. This is provided through telephone and digital channels and face-to-face services at the main offices located at Daneshill. House. The main areas of charitable activity are: the provision of general advice and information services the provision of specialist advice and casework services, and guidance on the new pension regulations. Throughout the year we have continued to offer Advice and Information in the following ways: • Adviceline - participation is continuing as part of a group of other local Citizens Advice to provide our telephone service. The line is covered on a rota basis between the hours of 9.00am and 5.00pm from Monday to Friday and continue to deliver Out of Hours Adviceline, extending our opening hours to 9 pm in the evening, and between 10 am and 4 pm on a Saturday. Outside of these times there is an automated advice service 24 hours a day. Face to face services for those unable to use digital channels. We altered our delivery model reduced our services to digital first as a result of the pandemic. An initial assessment takes via telephone or email and subject to criteria being met clients are then seen in person. Urgent issues are responded to and clients are not turned away. • Full advice -general and specialist advice through our team of trained advisers and paid staff. • Information and Self Help. In addition to generalist advice, the following specialist advisory services were provided: CORE: The core service funded by a contract with Stevenage Borough Council to provide advice to local people to improve financial inclusion. Page 5
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 • Caseworkers for debt / tenancy sustainment for tenants of Stevenage Borough Council • Homelessness prevention and court desk representation funded by Stevenage Borough Council • Crisis Intervention services funded by Hertfordshire County Council • Welfare Benefit Appeals services funded by Hertfordshire County Council • HertsHelp Adviceline funded by Hertfordshire County Council • Pension Wise funded by the Department for Work and Pensions • Help to claim funded by Citizens Advice National. • Specialist family advice funded by the Follett Trust (Ended 2024/25) • Specialist debt advice funded by Henry Smith Foundation • Specialist employment advice service (our only paid for service) which provide specialist employment advice at affordable rates • Out of Hours Adviceline funded by Hertfordshire County Council • Improving Outcomes Through Legal Support funded by Access to Justice Immigration Advice funded by Hertfordshire County Council : Look back over 2024/25 and who used and benefited from our services? This year, Citizens Advice Stevenage has continued to go through significant growth and transformation. his year saw our Chairman Tim Wade step back into his role of Vice Chair, with Sarah Neilson taking over as Cha Ve also said goodbye to Malcolm Parry, Andrew Cheung and Jamie Lyons, who we thank for their support during the time with us. Year One Review of the 2024-27 Business Strategy: Fit for the Future In the first year of our 2024-27 strategy, our focus was on strengthening the organisational foundations to support long-term sustainability, improved service delivery, and operational efficiency. Year One Priorities and Progress People, Skills & Culture We initiated structural and cultural improvements to enhance staff experience and leadership capacity. This included: Partnering with HR and change management consultants to review staffing structures, pay benchmarking, and internal communications. Introducing new job descriptions, launching staff feedback forums, and appointing a new Staff Representative Implementing the first phase of a new operating model, with further work ongoing into Year Two due to resource constraints. Page 6
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Tools & Technology Our ambition to improve advice delivery through technology progressed with: Commissioning an ICT strategy and running a successful procurement to modernise our infrastructure. Beginning trials of Al-based meeting tools to improve internal efficiency. Process & Structure We aimed to fully integrate the HertsHelp project and develop a clear cost model to inform strategic decision-making: • Embedded HertsHelp into core operations and improved referral pathways with partners. • Delivered a Financial Management Charter and commenced development of a Delegation and Decision-Making Framework. Initiated a governance review and participated in the Better Boards programme, with outcomes including proposed new board committees and improved trustee-SLT collaboration. Key Challenges Progress in several areas was impacted by staffing capacity, competing service delivery demands, and limitations in digital infrastructure. Addressing these issues will be a focus in Year Two, alongside completing the structural transformation and scaling improvements in technology and financial management. Our Service 2024/25 • In the year of 2024/25 we were successful in assisting 23,347 people with over 55 thousand issues. Undertaking 79,765 client contacts. 8 in 10 people said their problem was solved following our advice, and 9 out of 10 people said we helped them find a way forward. The most prevalent advice areas remain: Benefits and Universal Credit, reflecting continued challenges around income adequacy, conditionality, and managed migration • Debt, with council tax, rent arrears, and fuel debts leading, underscoring the cost-of-living pressures facing many households. • Housing and Charitable Support/Food Banks also remain significant • We have seen increased presentations around housing, debt, and benefits, with spikes in key months that align with national policy shifts and local financial pressures. • The data shows that Universal Credit continues to dominate welfare-related issues, particularly around initial claims, personal independence payments, and benefit entitlement. Client Demographics Our client profile reflects the diversity and vulnerability in our community: 59% of clients are female, with a strong presence across all working-age groups 47% of clients identify as either disabled or having a long-term health condition. 21% of clients are from Black, Asian, Mixed, or other minority ethnic backgrounds. Outcomes and Impact • We secured over £4.8 million in positive financial outcomes, including £827,000 in debts written off and nearly £620,000 in income gains. This reflects the measurable difference our service makes in preventing crisis and promoting financial stability. Every year people come to us for help solving their problems. This means we're an important part of the community, with a credible understanding of local needs. We use this to tailor our services and help improve local policies and practices. Page 7
- Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 This year we worked to secure improvements for Universal Credit claimants, helping ensure people don't miss out on Council Tax Reduction. But what means the most is what our clients have to say: "yes, I can honestly say at the time of reaching out to citizens advice, I was at my lowest, my wife was in intensive care, I had been made redundant, / was in debt, British gas would not liaise with me, I felt suicidal, but after gathering courage to speak to citizens advice, slowly and surely my life changed, I will be forever grateful to the people that did, and still are helping me cope" Delivery Channels Client contact continues to shift across multiple channels: Over 25,000 contacts were made via Adviceline, our most used channel. In-person appointments remain essential for complex cases and client reassurance. Contribution of Volunteers and Paid Staff The charity's success could not have been achieved without the hard work and dedication of volunteers and staff. The • trustee board and senior management team recognise the tremendous contribution made by the charity's volunteers in advising the public and administering the service without which the service could not operate. Throughout 2024/25 the service employed an average over the year of 44 paid workers (36.88 FTE), and a total of 82 volunteers (including trustees) together delivering our core service and projects. Volunteers represent the indispensable core of the service for without them, there would not be a Citizens Advice service. The volunteers contribute, on average, 597.5 hours per week. This may be expressed as an annualised value of 2024/25 £442,744. However, their value is inadequately expressed in monetary terms. Indeed, volunteers bring many skills to the service and very often the experience gained helps individuals return to full employment. During 2024/25, 13 volunteers left to take up paid employment. Citizens Advice Stevenage are working hard to review our approach to attracting and keeping volunteers, through our partnership with Hertfordshire University and the Job Centre Plus. It is our intention to consistently monitor our approach to training, to provide an accessible and welcoming place to volunteer. Factors Affecting the Achievement of Objectives Maintaining sufficient funding to continue delivering the service remains a continual challenge. We are making sure that we invest in fundraising and continue to diversify our approach to ensure we are delivering the most cost effective service we •possibly can. This isn't about simply cutting costs, it is about delivering a service that genuinely meets clients' make us as cost effective as possible. • The complexity of the issues that clients are facing, and the additional challenges that clients are experiencing, places additional demands on the service. The support networks that were previously in place for people are changing and we are asked to offer support that falls outside the remit of direct advice. Where people are vulnerable, it is essential that we offer support in a person-centred way and whilst necessary this can be resource intensive. FINANCIAL REVIEW The availability of funding in the charity sector remains difficult in a period of austerity. The charity is focused on providing added value to its funders from a base of sound financial management and ensuring that our services remain relevant to the strategic objectives of stakeholders at local and national level. The charity is working hard to deliver a cost-effective service that genuinely meets the needs of our clients. It remains a challenging prospect to meet the ever-increasing demand with significantly reduced funding resources. In the reporting period, the charity had a surplus of £36,066 (2023/24: £141,704) from a total income of £2,281,237 (2023/24: £1,757,431) and expenditure of £2,245, 171 (2023/24: £1,615,727). The increase in income and expenditure is mainly due to the full year impact of projects which started part way thorough 2023/24. In addition, the charity has stepped in to act as principal contract holder on behalf of other Hertfordshire Citizens Advice offices for the Crisis Intervention Page 8
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 service funded by Hertfordshire County Council. This funding is recorded as matching income and partner payment cost in the accounts At the year end the charity's total funds stand at £648,806 (2023/24: £612,740) of which £608,982 is unrestricted and £39,824 is restricted Financial position The Board decided in 2023 to allocate £15,000 of these unrestricted funds for possible redundancy costs as funding streams end and are not renewed and has set aside a further £126,299 in a redevelopment fund to support efforts towards finding new project funding. These funds remain in place in the current year as the environment remains challenging In addition, £20,440 remains set aside to vital asset replacements. Cash balances have moved from £1,161,641 at the end of the 2023/24 financial year to £1,312,996 at the end of 2024/25. This is due to funding for 2025/26 received in advance, resulting in an increase in deferred income on the balance Principal funding sources The Directors extend their thanks to Stevenage Borough Council which has continued its funding to enable us to provide our core service. The Council also provides funding for other services such as a Court Desk debt worker, and a full-time equivalent caseworker through the Stevenage Housing department to help clients in rent arrears or in need of other advice funded projects in Stevenage. Investment powers; policy and performance As required in Article 4.1 of its Articles of Association, the charity has the power, which may be used only to promote the accumulate expendable endowment. Reserves policy Citizens Advice Stevenage is required to ensure that free monies are available in each financial year to meet any reasonably foreseeable contingency. Citizens Advice Stevenage will maintain a projection of income for at least 3 years ahead and will ensure that this continues to be derived from as wide a variety of sources as possible. They will take all necessary steps to ensure that at no time within this period would it be possible for the cessation of one or more funding streams to present so serious a challenge to the future of the organisation that it could not be managed so as to continue to provide a best value advice service. In reviewing the potential costs that could arise should a significant reduction in income be incurred, the Trustees have determined that 'free' reserves should be maintained at a minimum of 3.5 months of operating costs The level of reserves held meets the reserves policy requirement. At 31st March 2025 total reserves were £ 648,806 (£612,740 in 2023/24), of which £ 608,982 represented general unrestricted funds. Going Concern After making further appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Strategic Vision for 2025/26 and Beyond Citizens Advice Stevenage has always been a progressive and ambitious service and over the past few years we have grown and changed significantly as an organisation. Our primary purpose remains providing resilient and accessible advice services to Stevenage residents. While we have successfully secured new funding and recommissioning rounds, many Page 9
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 funding streams have remained flat in cash terms, resulting in real-term cuts. Despite setting a deficit budget last year, we managed to turn it around through one-off funding awards and staff turnover. This year, we are likely to set another deficit budget, requiring careful consideration of our options to address these challenges. In March 2024 board formally signed off our Business Strategy 2024-27: Fit for the Future. This is was the start of an excellent new phase for Citizens Advice Stevenage. Using internal and external context (e.g. risk, client data, evolving strategy) we engaged a range of stakeholders from the autumn of 2023, to make sure our strategic decision making was reflective of the team's views and the reality our service faces, to make sure that our plan is relevant to the things we must do rather than blue sky, nice to have, aspirations. This strategy aims to ensure that Citizens Advice Stevenage is optimally positioned to: • Fulfil all its commitments, continuing to support the growing numbers of people coming to us. Where possible we will be seeking to operate an integrated delivery model which efficiently leads to more impactful outcomes for clients • Create an environment conducive to a positive work and volunteer experience, supporting our team to be best placed to achieve the best outcomes for our clients. • Be responsive to the evolving needs of clients, the society in which they live and the sector within which we operate and remain prepared for the forthcoming challenges and opportunities. As we move into 2025/26, we remain committed to delivering responsive, high-quality advice services that meet the evolving needs of our residents. Over the 2024/25, we have laid the groundwork to ensure our service is fit for the future — building the right structure, investing in staff and volunteers, and enhancing how we use insight and data to shape service delivery. People, Skills & Culture We will focus on embedding the new operating model, implementing our Post-Restructure Culture Recovery Plan, and launching a clear progression framework. A full pay review will be presented following Henley's recommendations. We aim to expand training—particularly leadership, development-and strengthen engagement through improved feedback and collaboration. Trustee and senior leadership collaboration will also be enhanced. Tools & Technology We will complete the onboarding of a new IT provider and begin implementation of the ICT strategy, ensuring our systems are modern, secure, and fit for purpose. Process & Structure Key priorities include finalising the Governance Manual and Delegation Framework, improving financial planning, and introducing trustee committees for stronger oversight. We will also enhance advice delivery through streamlined processes, automation, and adviser training, and continue to build cross-office collaboration for long-term sustainability Auditors Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier. The Trustees (who are also the directors of Stevenage Citizens Advice Bureau 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 Standards (United Kingdom Generally Accepted Accounting Practice) Company 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 the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the Trustees are required to Page 10
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Select suitable accounting policies and then 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 keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets 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 auditors are unaware; and The Trustees have taken all steps that they ought to have taken to make them aware of any relevant audit information and to establish that the auditors are aware of that information. Approved by order of the members of the board of Trustees and signed on their behalf by: •Signed by: Sarale Milson -ADA64DSF6C2845D... Sarah Neilson Chair of the Board Date: 16-Sep-2025 Page 11
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) MENZIES BRIGHTER THINKING INDEPEDENT AUDITORS' REPORT TO THE MEMBERS OF STEVENAGE CITIZENS ADVICE BUREAU Opinion 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: • give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethic equirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financi Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities. of the Trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact We have nothing to report in this regard Page 12
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STEVENAGE CITIZENS ADVICE BUREAU (CONTINUED) . Opinion on other matters prescribed by the Companies Act 2006 In our opinión, based on the work undertaken in the course of the audit: the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements • the Trustees' report has been prepared in accordance with applicable legal requirements Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report. We have nothing to report in'respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of Trustees' remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.: Responsibilities of trustees As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 13
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STEVENAGE CITIZENS ADVICE BUREAU (CONTINUED) Auditors' responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The. extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: The charitable company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including FRS 102, Charities SORP, Companies Act 2006, Charities Act 2011 and compliance with the National Citizens Advice Bureax policies. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. • We understood how the charitable company is complying with those legal and regulatory frameworks by, making inquiries to management, those responsible for legal and compliance procedures and the company secretary. We corroborated our inquiries through our review of board minutes. • The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations. The assessment did not identify any issues in this area. • We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur. We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas; management override of controls to manipulate results, or to cause the charitable company to enter into transactions not in its best interests. Audit procedures performed by the engagement team included: Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud; Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; Challenging assumptions and judgments made by management in its significant accounting estimates; and Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with. a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report. Page 14
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3ВАА4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STEVENAGE CITIZENS ADVICE BUREAU (CONTINUED) Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our, audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed •DocuSigned by: Janice Matthews Janice Matthews FCA (Senior statutory auditor) for and on behalf of Menzies LLP Chartered Accountants Statutory Auditor Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP Date: 16-Sep-2025 Page 15
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903СE3ВАA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Total Note Income from: Donations and legacies Charitable activities Investments Total income Expenditure on: Charitable activities Total expenditure Net (expenditure/income Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward 3 4 5 6 14 1,961,981 - 1,961,981 1,965,389 1,965,389 (3,408) (23,192) (26,600) 66,424 (26,600) 39,824 95,753 200,101 23,402 319,256 279,782 279,782 39,474 23,192 62,666 546,316 62,666 608,982 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 19 to 32 form part of these financial statements. 95,753 2,162,082 23,402 2,281,237 1 2,245,171 2,245,171 36,066 106,386 1,639,523 11,522 1,757,431 1,615,727 1,615,727 141,704 36,066 612,740 36,066 648,806 141,704 471,036 141,704 612,740 ) Page 16
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BАА4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) REGISTERED NUMBER: 03836106 BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 € Fixed assets Tangible assets Note 11 Current assets Debtors Cash at bank and in hand 12 202,476 1,312,996 1,515,472 141,655 1,161,641 1,303,296 Current liabilities Creditors: amounts falling due within one year Net current assets 13 (866,666) (690,556) Total assets less current liabilities . Total net assets 648,806 648,806 648,806 612,740 612,740 612,740 Charity funds Restricted funds Unrestricted funds 14 14 Total funds 39,824 608,982 648,806 66,424 546,316 612,740 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: •Signed by: Sarale Milson ~ADA64DSF6G2846D.. Sarah Neilson Chair of the Board Date: 16-Sep-2025 The notes on pages 19 to 32 form part of these financial statements. Page 17
( Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 Note Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Dividends, interests and rents from investments Net cash provided by investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 19 to 32 form part of these financial statements 2026 127,955 23,401 23,401 151,356 1,161,641 1,312,997 2024 581,162 11,522 11,522 592,684 568,957 1,161,641 Page 18
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. General information Stevenage Citizens Advice Bureau is a company limited by guarantee and registered charity, both registered in England and Wales. The charity and company registration numbers, along with the registered office address, can be found within the reference and administrative details on page 1. 2. Accounting policies 2.1 Basis of preparation of financial statements The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of •Ireland (FRS 102) and the Companies Act 2006. Stevenage Citizens Advice Bureau meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Going concern The Trustees believe that the charity has sufficient resources to continue its operations from at least twelve months from the date of approval of these financial statements. The accounts are accordingly prepared on the Going Concern basis. 2.3 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of incomê received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Gifts in kind donated are included at valuation on receipt. Donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Page 19
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2. 3. • Accounting policies (continued) 2.4 Expenditure (continued) All expenditure is inclusive of irrecoverable VAT. 2.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.7 Pensions The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. 2.8 Fund accounting General. funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Donations Unrestricted funds 2025 € 95,753 Total funds 2025 95,753 Total funds 2024 106,386 Total 2024 106,386 106,386 Page 20
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 4. Income from charitable activities • Grants Total 2024 . Investment income Restricted Unrestricted funds funds 2025 € 2025 1,961,981 1,357,617 200,101 281,906 5. Unrestricted funds 2025 23,402 11,522 6. Deposit account interest Total 2024 Analysis of expenditure on charitable activities Summary by fund type Direct charitable expenditure Total 2024 Restricted Unrestricted funds funds 2025 2025 € 1,965,389 1,305,038 279,782 310,689 2,162,082 1,639,523 Total funds 2025 23,402 11,522 Total 2025 € 2,245,171 1,615,727 Lunas 2024 1,639,523 Total funds 2024 11,522 Total 2024 1,615,727 Page 21
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure by activities Direct charitable expenditure Total 2024 Activities undertaken directly 2025 € 1,895,840 1,326,676 Support costs 2025 349,331 289,051 Analysis of direct costs Staff costs Staff and Volunteer costs Office costs Premises, Other costs Partner Payment Governance costs Total 2024 Activities 2025 1,045,146 13,037 22,910 90,000 3,830 713,754 7,163 1,895,840 1,326,676 2,245,171 1,615,727 Total funds 2025 € 1,045,146 13,037 22,910 90,000 3,830 713,754 7,163 1,895,840 1,326,676 Total funds 2024 £ 1,615,727 Total funds 2024 £ 779,556 8,866 61,918 89,999 11,358 362,309 - 12,670 1,326,676 Page 22
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 7. Analysis of expenditure by activities (continued) Analysis of support costs 8. 9. Total funds 2025 € Total funds 2024 Staff costs Staff and Volunteer costs Office costs Premises Other costs Governance costs 174,698 31,265 105,440 307 682 36,939 187,818 14,550 67,588 2,085 2,393 14,617 Total 2025 349,331 289,051 Support costs are allocated to each activity according to the number of Full Time Equivalent Number of Staff working on each activity. Auditors' remuneration The auditors' remuneration amounts to an auditor fee of £10,500 (2024 - £8,750), and Preparation of statutory financial statements of £2,100 (2024 - £1,750): Staff costs • Wages and salaries Social security costs Contribution to defined contribution pension schemes 2025 1,081,209 91,538 47,097 1,219,844 2024 856,191 68,858 42,325 967,374 The average number of persons employed by the Charity during the year was as follows: Advice and Information Administration and support 2025 No. 34 9 43 2024 No. 35 7 42 Page 23
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 9. Staff costs (continued) The average headcount expressed as full-time equivalents was: Advice and Information Administration and support 2025 No. 29 8 37 2024 No. 25 7 32 No employee received remuneration amounting to more than £60,000 in either year. Total key management personnel remuneration (including benefits) was £218,962 (2024: £158,742). 10. Trustees' remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2024 - ENIL). During the year ended 31 March 2025, expenses totalling £174 were reimbursed or paid directly to 1 Trustee (2024 - ENIL to Trustee), for travel and parking costs for meetings. 11. . Tangible fixed assets Fixtures and fittings Cost or valuation At 1 April 2024 At 31 March 2025 19,409 19,409 Depreciation At 1 April 2024 At 31 March 2025 19,409 19,409 Net book value At 31 March 2025 At 31 March 2024 Page 24
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Debtors 2025 Due within one year Trade debtors Other debtors Prepayments and accrued income 139,443 5,749 57,284 202,476 13. Creditors: Amounts falling due within one year Trade creditors Other taxation and social security Other creditors Accruals and deferred income 2025 € 87,286 20,633 201,073 557,674 866,666 Included within accruals and deferred income is:. Deferred income Deferred income at 1 April 2024 Resources deferred during the year Amounts released from previous periods Deferred income at 31 March 2025 2025 •f 394,192 483,797 (394,192) 483,797 Deferred income relates to Grant income given for use in future periods. 2024 £ 118,156 23,499 141,655 2024 72,501 17,661 195,702 404,692 690,556 2024 128,285 394,192 (128,285) 394,192 Page 25
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Statement of funds Statement of funds - current year Balance at 1 April 2024 € Income Expenditure Transfers Balance at 31 in/out March 2025 Unrestricted funds Designated funds Asset Replacement Fund Digital and Redevelopment Fund Redundancy Fund 20,440 126,299 15,000 161,739 20,440 126,299 15,000 161,739 General funds General Fund Total Unrestricted funds 384,577 546,316 319,256 319,256 . (279,782) (279,782) 23,192 23,192 447,243 608,982 Designated funds: Asset Replacement fund - A reserve to ensure that there is sufficient money to replace equipment when it becomes obsolete or beyond economic repair. Digital and Redevelopment fund - to fund additional resources associated with finding new funding or redesigning our operating model/ investment in new ways of working/ efficiencies etc. Ultimately this fund i important in ensuring that even in tight financial times, we can still invest where necessary in developing th service to the benefit of our clients.. Redundancy fund - A reserve to cover the possible costs of staff redundancies, in the event that project contracts are not renewed Page 26
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Statement of funds (continued) Restricted funds Henry Smith COL Advisor HCAS Project Management HCAS Welfare Benefits BLC Law Student HCAS Crisis SBC Housing Debt Advice SBC Court Desk CA PensionWise CA HTC Follet Family Immigration Support Out of Hours Advice HertsHelp A2JLS 57,737 (57,737) 13,252 23,192 7,323 6,998 15,429 230 66,424 362,446 32,673 31,306 26,010 113,936 219,586 17,201 22,228 46,445 / 960,662 71,751 1,961,981 (361,301) (36,996) (31,306) (26,240) (113,936) (219,586) (17,201) (22,228). (46,445) (960,662) (71,751) (1,965,389) Total of funds 612,740 2,281,237 (2,245,171) (13,252) (23,192) 6,998 (6,998) 13,252 (23,192) 15,466 24,358 39,824 648,806 Page 27
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 : 14. Statement of funds (continued) Court Desk - Court desk representation for clients due to attend a possession hearing and homelessness prevention advice Pensión Wise - Delivery of face-to-face pension guidance sessions to empower customers in their pension Henry Smith - Specialist advice and advocacy for clients with both priority and non-priority debts funded by Henry Smith Foundation. COL Advisor - Cost of Living Adviser funded by Hertfordshire County Council to support with the cost of living crisis and provide generalist advice. HAS Welfare Benefits - Our Welfare Benefit Appeals project aims to support, advocate, and represent clients at benefit tribunals, when their benefits have been turned down. The appeals caseload is intensive and requires in depth understanding of welfare benefit rules and regulations. HCAS Crisis - One to one specialist advice to people in crisis situations, or at times of exceptional hardship. SBC Housing Debt Advice - Working with clients who have local authority rent arrears, putting them back on track with their finances and working to reduce their rent arrears. Negotiating affordable repayment plans to empower residents to take back control of their financial situation. CA HTC - A telephone and web chat service for those looking for support to make a claim for Universal Credit funded by Citizens Advice National. Follet Family - Specialist support on family and relationship matters, such as divorce, separation, children and residence issues. Including practical advice for victims of domestic abuse. HertsHelp - A 7 day a week Adviceline connecting Hertfordshire residents to the right services for their needs funded by Hertfordshire County Council. Our HertsHelp team listen, research, refer and signpost people to community organisations that work together to provide information and advice on community services in Hertfordshire. A2JLS - working to sustain and improve access to early social welfare and family legal advice, to enable users to resolve these problems as early as possible and avoid the need for court or tribunal proceedings where possible. funded by Access to Justice. BLC Law Student partnered with the Money Advice Unit and University of Hertfordshire Law Clinic to enhance capacity and provide students with a unique opportunity to gain vital knowledge and experience in this field, under the supervision of our specialist caseworker. Out of Hours Advice - Out of Hours Adviceline so residents can speak to a fully trained adviser at a time that suits them without needing to take time out of their working day or interrupting their caring responsibilities in order to get the help they need, funded by Hertfordshire County Council. HCAS Project Management - Project management and impact analysis of the Crisis Intervention, Hertfordshire Welfare Benefits and BSL services. HAS BDM - Working on behalf of Citizens Advice in Hertfordshire to provide business development to develop services to benefit our collective clients. MaPS - Debt advice project funded by the Money and Pensions Service. VCFSE Alliance - Hosting the secretariat to support the day-to-day operations of Herts and West Essex VCFSE Alliance. The overall aims of Hertfordshire and West Essex VCFSE Alliance are to achieve tangible outcomes for the sector and communities through presenting a unified voice within a newly created Integrated Care System. Herts Comm No1 - Adviser Capacity to provide generalist advice. Page 28
Docusign Envelope ID: FDEFAE66-C1F3-4ĘFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO'THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Statement of funds (continued) Statement of funds - prior year Unrestricted funds Asset Replacement Fund Digital and Redevelopment Fund Redundancy Fund Balance at 1 April 2023 . 20,440 126,299 15,000 161,7.39 General funds General Fund Total Unrestricted funds 295,452 457,191 399,814 399,814 Restricted funds Court Desk Pension Wise Henry Smith Money and Pensions Service COL Advisor VCFSE Alliance Herts Comm No 1 HCAS Project Management HCAS Welfare Benefits BLC Law Student HCAS Crisis SBC Housing Debt Advice CA HTC Follet Family: Partner Payments Out of Hours Advice HertsHelp A2JLS 230 3,008 1,832 3,679 764 4,259 73 24,790 118,309 45,809 38,100 42,522 46,686 39,480 15,127 50,111 35,974 173,908 24,329 24,715 31,278 619,763 26,716 Expenditure (310,689) (310,689) (24,790) (121,317) (47,641) • (3,679) (25,612) (46,781) (73) (23,494) (32,157) (8,129) (34,682) (35,974) (173,908) (24,329) (24,715) (31,278) (619,763) (26,716) Balance at 31 March 2024 20,440 .126,299 15,000 161,739 384,577 546,316 230 13,252 23,192 7,323 6,998 15,429 Page 29
..- Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Statement of funds (continued) Statement of funds - prior year (continued) Balance at 1 April 2023 Income 13,845 1,357,617 Toi ta of funds 471,036 1,757,431 Expenditure (1,305,038) (1,615, 727) Balance at 31 March 2024 66,424 612,740 Page 30
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3BAA4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. Summary of funds Summary of funds - current year Designated funds General funds Restricted funds Balance at 1 April 2024 161,739 384,577 66,424 612,740 Income 319,256 1,961,981 2,281,237 Expenditure (279,782) (1,965,389) (2,245,171) Transfers Balance at 31 in/out March 2025 € 23,192 (23,192) 161,739 447,243 39,824 648,806 Summary of funds - prior year Designated funds General funds Restricted funds Balance at 1 April 2023 £ 161,739 295,452 13,845 471,036 Income Expenditure 399,814 1,357,617 1,757,431 (310,689) (1,305,038) (1,615,727) Balance at 31 March 2024 161,739 384,577 66,424 612,740 16. Analysis of net assets between funds Analysis of net assets between funds - current year Current assets Creditors due within one year . Total Restricted Unrestricted funds funds 2025 2025 € 39,824 39,824 1,475,649 (866,666) 608,983 Total funds 2025 . € 1,515,473 (866,666) 648,807 Page 31
Docusign Envelope ID: FDEFAE66-C1F3-4EFE-9977-903CE3ВАА4AF STEVENAGE CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior year Restricted funds 2024 66,424 Current assets Creditors due within one year Total 66,424 Unrestricted funds 2024 1,236,872 (690,556) 546,316 Total funds 2024 1,303,296 (690,556) 612,740 17. Related party transactions The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2025. Page 32