Company registration number. 03618859 Charity registration number.. 1077828 Citizens Advice Broxtowe IA cornpany litniied by guardniee) Annual Report and Financial Statemenis for the Year Ended 31 March 2023 Community Accounting Plus Units l & 2 North Wesi 41 Talbot Stre¢t Nottinghaln NGI 5GL
Citizens Advice Broxtowe Contents Reference and Administraiive Derails Trus¢ees' Report 2¢05 Independent Exatniner's Report Statcm¢nt of Financial A¢tiYiti¢s 7t08 Balance Sheet Statement olcash Flows 10 Notc5 to thc Financial Statctncnts 11 to 25
Citizens Advice Broxtowe Reference and Administrative Details Trustees Simon Lagoe, Chair Alan Russell, Vi¢e Chair Fiona Carter Gary Williams Councillor Barbara Carr Craig Dry5dal¢ Arthur Seidel. Treasurer Secretary Sally B¢stwi¢k Senior MaDa8¢mcnt Team Sally Bestwick, Chief Exe¢utiv¢ Charity R¢sistratlOD Numb¢r 1077828 Comparty Rcgistr4tion Number 03618859 Registered Office The Library and Inforniation Centre Eastwood Nottinghamshire NG163GB Independent Examiner John O'Brien, employee of Community Accounting Plus Units l & 2 North West 41 Talbot Stieet Nottingham NGI 5GL Bankers Lloyds Bltnk PLC 28 Gresham Street London EC2V7HN Page I
Citizens Advice Broxtowe Truslees, Report The iNsiees, who ar¢ directors for the purposes of company law, present the annual report together with ihe linancial statem¢nts of the chariiable company for the year ended 31 March 2023. Trustees and officer$ The Iruste¢s and officers serving during the year and since ihe year end w¢re as follows.. Trusl¢es'. Simon Lagoe. Chair Alats Russell, Vice Chair Fiona Carier Gary Williams Councillor Barbara Carr Craig Drysdale lappoinied 8 Novernber 2022} Arthur Seidel, Treasurer lappoint¢d 6 Scptember 2022) Si¢phen Green (resigned 24 August 2022) Jane Caulton-Wint¢r (resigned 18 August 2023) Sc¢retary'. Sally Bestwick Sti"u¢tUl'¢* gtsveiJiaJi¥¥ N4iure tlfgoverning documeni The charity 15 a company limited by guarantee and regisiered charity. It is operated under the rul¢s of its memnTAndiim and aMicleÈ of association dated 20 Au8USt 1998 and mosi recently #Tnendcd August •022. li no share capital and the liability of each member in the ev¢nt of winding-up is lirnilcd ro £1. Recruitmenl ond Appoipimellt ofiruslees Tru51ees ar¢ appointed by an open recruitmeni method with vacaneics advcrtised through the Citiz¢ns Advice network and our local contact5, wc also usc ChariryJob webslte. Int¢r¢si¢d people who apply will th¢n b¢ inviied for an infomial chat with the Chair bcforc more fotmal proceedings begin in¢luding application fomi$, inietview and r¢f¢rcnces. due diligence to chcck not picviously disqualifi¢d ctc. The Trustee5 then follow an indueiion process with the Chief F.xecurive and are offered training opporniniiies as appropriate. Objectives and activities Objects aims We aTe established for the promotion of any charitable purposes for Ihc bcncfit of thc community in thc borough of Broxlowe and surToundknE areas and in the CaiJnTy af Notlin8hamshire fLir the advat)ccmcnt of education. the proreciion of health and the relief of poverty, si¢kn¢ss and distres5. As a local Citizens Advice we will work in partnership wilh narional Citizcns Advi¢¢ and oiher local cli)n5 Advice. Page 2
Citizens Advice Broxtowe Trustees, Report Public benefit The Charity provides free, impartial. Confideniial and independent advice for the benefit of the local community in Broxlowe and the widei Nottln8hamshire community as appropriate. We also exercise a responsible influenee on the development of social policies and services and to ensure individuals do not suffer through lack Of knowlcdgc or an inabilsty to expr¢ss iheir needs effectively. Th¢ Charity's aetivities benefit the public by providing advice tg ¢nabl¢ individuals to deal with probl¢ms kn th¢ir liY¢s. including but not limited to finfynei(tl, housing and employment issues. The charity also seeks to influence policies and services io help rcduc¢ th¢ problcms in the long iemi. The trustees confirni rhat they h8vc complied with the requirelnents of sectitsn 17 of the Charities Act 201110 have due regard io the public benefit guidance published by the Chaiity CommIssion for England and Wale5. Achlevements and pcrformgnce During Ihe Year 2022-23 we saw a hugc upsurge in demand for our services due to the Cost of Living Crisis and we exp¢ct this to increase fiirther in 2023-2024. We continu¢ to work in collaboration with national CitizeTJS Advice and local partners to bridge any gaps in advi¢¢ and inforniation and aid 5UStainability for the future. 18,087 advice issues dealt with 6,120 welfare benefits Issues handled 3.418 dcbr issu¢s handlcd £2.7m of addiiional benefits gain¢d 145 famJlic3 avoid¢d hom¢l¢ssn¢ss 86 Campaign issu¢s takcn up- giving our clients t4 voice 7,500 houts donaied by our volunte¢TS valu¢d at £130k Financial review The organi5ation enjoyed a siable financial position across the year with incorne of £577k and expenditure of £)) Ik, generating a small 5UTpliis tsf £20k. Boih income and ¢xp¢ndiwrc exclude income received froTll filnders which is immediatcly passcd on to partner organisations. principally other NottinghaTllshire Local Citszens Advice offices. In addition. the pension deficit reduced frorn £360k ai 31 March 2022 to £53k ai 31 MaTch 2023 as a result of actuarial factors. Policy reserves Thc r¢.%erve5 policy and levcl of fullds is r¥vi¥wvd OnllUkLlly by Ilie Tiust¢t Boajd. Addilioj1IY a5 part of th¢ annual budgct process the Trustees tonsider ihe budgeted reserv¢s ¢xpected at the year end. The charity has Restricted Reserwes, which may onlv be used for the purposes for which the fi]nds wcrc providcd. and Unrestricted Reserves which are available foi Spending on the purposes of the charity as the Tru5tecs wish. In Considering the appropriate level tsf Unresiri¢ted Reservcs. the Trustees set a5Ld¢ Dcsignaied Reserves to dcvelop th¢ Charity and other costs should the charity clos¢. The Trustees believe Ihat on ihis basis. Unrcsiricted Rcscrves. net of the Designatcd R¢scrv¢s, and cxeluding the lonR rnI pension liability. equivalent to 6 months of op¢raiing costs Is a pThdenr level. However, from tim¢ to time the Trusiees may agree a budget which shows year end ¢xpcct¢d r¢serves to be lower than this. Resetves or¢ rcport¢d ¢ach quarter with a forecasi for the year end res¢rv¢s ¢ompared lo budget. At 31 Mareh 2023, total reserves. net of the pension liability wcre £353,312 of which £78,488 was Resiricted Reserves and £30,000 was Designated Reserv¢s, leaving a balance of £244.824 Unrestri¢ied Reserves (net of DeSLgnated Reserves) equivaleni to 6 months of operating Costs. Page 3
Citizens Advice Broxtowe Trustees, Report Prin¢ipalri5ks un¢erl¢7inli¢s FipTi7nci171 ri.sks The Trustees h2ve agreed a budger for 2023124 with a deficit of £130k, in the expectation that the organisaiion will secure 8dditional funding during th¢ y¢ar t0 5ignifi¢antly r¢du¢¢ this d¢fi¢it. The Trust¢¢s ar¢ confident that Ihe organisation will finish ihe year with r¢s¢S within the r¢s¢rv¢s policy. All th¢ incom¢ from fund¢rs is uaranieed and we do noi expect any ol them to end agrecmcnis early. Uur L¢[ Lxeculive and L)evelopmeni Contraclor hav¢ a fvnding 5tratcgy agrecd by the Board and continue lo apply for grants and develop paiin¥tbhipb Iv ¥LnbiillL fuiutL IuiiLIs Tlii Cli1¥( EILr¥uliv¥ indiiitrdins TLlalivT)sIIipb wiul ¥ASSLlllg fundLTb lu ensure continuaiion. We are also working collaboraiively with the oiher 5 Noiringhamshire Citizens Advice offices to share roles and resources as well as apply foi nding across ihe County. Plan5 for future period5 Aiws andkey obje¢iivesforfut¥reperiods Wc arc working with o¢her Local Citizens Advice across Nollinghamshire io share besi practice. avoid duplication and share some staff roles duc io large deficii budgcis and io find ncw ways of working for ihe fuwr¢, aiding susiainabiliry. Our lat¢st impact r¢ports, busin¢$s plan and at)nual r¢port Can b¢ found ai citizcnsadvicebroxtoTh'e.org.uk. Page 4
Citizens Advice Broxtowe Trustees, Report Statement of Responsibilities The truste¢s (who are also the directors of Citizens Advice Broxtowe for the purposes of company lawl are resw)nsible for preparing the trustees, report and the financial statemen15 in accordance with applieable law and United Kingdom Accounting Standards (United Kingdom Gen¢rally A¢¢¢pted Accounting Practice). including FRS 102 "The Financial Rcponing Standard applicable in the UK and Republic of Ircland" The r¢port and accounts have been prepared in accordance with th¢ provisions in the Companies Act 2006 relating to small companies. Company law requires th¢ tru5t¢es to prepare financial statcments for each financial year. Under company law th¢ lrnstees musi not approve the financial statements unless they are saiisfied that they give a iwe and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including its income and expenditurc. of the chtiritable company for ihai period. In preparing these financial statements. the trnstees arc Tcquired to= select suitable atcounting polici¢s and apply th¢m consisiently: observe the meihods and principles in the Chariti¢s SORP., make judgctnents and esiimaies that are reasonable and prudent: state whether appli¢ablc accounÉing siandards. comprising FRS 102 have b¢¢n followed. subjeet to Any material departures disclos¢d and explained in the financial statements; and prepore the fint*n¢iL)I siotements on thc going oonccrn basis unle8& it is itJappropriAte to presume that the Charitable ¢ompany will continue in business. The rrusic¢s aT¢ respoiisible for keeping proper accounring rc¢oTd5 that can di5cI(kse with reasonable accuriY al aDy time the financial position of the charitable cornpany and enable them to ensure that thc finan¢ial statem¢nts comply with the Cotnpanies Act 2006. They are also r¢sponsible for safeguarding the assets of the charitable company and hcn¢¢ for taking reasonable steps for the prevention and detcction of fraud and other irrcgulariiies. The tNstees are r¢sponsible tor the mainienance and integnty of the ¢orporate and financial infom)aiion included on the charitablc company's website. Legislation goveming the preparation and disseTninatÈon of fSnancial siatcmenis may differ l¥¥islitliun ii) uiliri juii$41iilJoiis. Smgu companies provision statement This report has been prepared in accordance with the small companies T¢gime under the Companies Aet 2006. Tli¢ aiTrsiual ¢111 was aypToY¢d by th¢ trustcts of th¢ charity orl 3igncd on its bthalf by.. Simon Lago¢ Trustee Page 5
Citizens Advice Broxtowe Independent Examiner's Report to the trustees of Citizens Advice Broxtowe ('the Company,) Independent exanner'S report to the trustees of Citizens Advicc Broxtowe ('the CompaDy') I repon its the chariiy IruSeS on my examination of the a¢¢ounts of the company for the year ended 31 March 2023. Responsibilities and basis of report As Ihc chariiy's trustees of ihe Cornpany land also its dir¢cttsrs for the pU[Fse5 of company law} you are responsible for Ihe preparation of Ihc accounts in accordancc with ihe requiremenls of th¢ Companies Aci 2006 I'ihe 2006 Ael'l. HaVg satisfi¢d my%lf that the accounts of the Company are not r¢quircd to be audited under Part 16 of th 2006 Act and are eligibl¢ for independeni examinaiion. I report in respect of my cxamination of yout charTrty's accounts as earri¢d out undcr seciion 145 of the Charities Act 2011 I'th¢ 2011 Act.). In CaTrying out my exarnit]ation I have followed the Directions given by the Charity Commission under section 145{5}Ib) of the 2011 Aci. Independent examiner's Statement Since thc Company's gross income exceeded £250.000 your examin¢r must be a member of a body listcd in se¢iion 145 of the 2011 Aei. I confirni thai I am qualified io undertake the examination becausc l am a member and Fellow of the Association of Charity Independeni ExamineTS, which is one of thc lisr¢d bodies. I have completed my examination. I confjrm thai no mailers have come to my atl¢ntion in connection with the examinaiion giving me cause to believe thai in any material respect.. accounting r¢cords wcrc nor kepi in rcspect of the Company as r¢quired by section 386 of the 2006 Act; or 2. Ihc ailvunlb d(F not dccord wirh th05c r¢¢ords.' or 3. th¢ a¢counis do not comply with the accounting r¢quirements of seciion 396 of the 2006 Act other than any r¢quiremeni ihai the accounts give a 'tru¢ and fairf view which is not a matter ¢onsidercd as pan of an independent examination,. or 4. the accounis have not been pr¢par¢d in accordance with the methods and principles of the SuieTnent of Recommended PTa¢tice for accouniiijg and reponing by thanties lÈpplicabl¢ to chariiics prepanng their accounts In accordance with th¢ Financial Reponing Siandaid applicabl¢ in the UK and Republic of Ireland {FRS 10211. I hav¢ no conccrns and have eome across no oth¢r matt¢TS in conneciion with the exatnination to which atteniion should b¢ drawn in this report in order to enablc a propcr und¢rsranding of the accounts to be rea¢h¢d. en MS¢, FAIA, FCCA, FCIE, ¢mployee of Community Accounting Plus Fellow of the Association of Charity Indepcndeni Examiners Unit5 1 & 2 North West 41 Talbot Strcei Nottingham NGI 5GL Date..... .0.11.1212023. Page 6
Citizens Advice Broxlowe Statement of Financial Activities for the Year Ended 31 March 2023 {Ineluding Income and Expenditure Account and Statement of Total Recognised Gain5 and Losses) Pensio fuDd5 Tot•] 2023 Total 2022 UDre$trlcted Restricted Note Incom¢ and Endojvmtnts from: Donations and legacie5 Cliaiiiable actLViIj¢S Invcstment in¢om¢ 176.508 37.085 1.529 176,508 398.878 1.529 122,926 487.068 1,351 361,793 Total income 215.122 301,793 576.915 611,345 Expenditure on- Charitable activilies (174.7651 1356,228) 126,0001 1556.993} (712,0611 Total ¢xpenditllre (174.7651 1356,228) 126.0001 1556.9931 1712,0611 Net incom¢l{cxpenditurel Transfers bctwccn fund5 40,357 122.321) 5,565 22,321 (26.0001 19.922 (100,716) Other recogni$ed gains and 1o5$éS AcNarial gains Ilosscs) on defjned benefil pension schemes 333,000 333,000 88,000 Net movemeni in fund5 18,036 27,886 307,000 352.922 {12,716) Rernncili#tihM thf funds Toial funds brought forward 271,937 49,519 1360,000) 138.544) {25.8281 Total funds carried fonvard 21 289,973 77,405 153,0001 314,378 {38.544) All of the charity's activiiies derive from continuing operations during the above two periods. The funds brcakdown for the period is shown in note 21. Page 7
Citizens Advice Broxtowe Statement of Financial Activities for the Year Ended 31 March 2023 {In¢luding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) These Ire the figures for the previous Accounting period and are intluded for comparative purpose5 Pensio Total Dds 2022 UDresirleted Restricted Income and Endowments from- Donations and legaei¢s Charitablc activilies Invesiment incorne 122.926 122,926 487.068 1.351 487.068 Total iD¢ome 124,277 487,068 611,345 Expenditure OD: Chariiable activities (173,389) 1511,672} 127,0001 1712,061) Toial expenditur¢ 1173.389} {511.6721 127.0001 1712.061) Net expenditure TransfeTS berween funds 149.112) 8.338 124.604) 18,338) 127.0001 1100.7161 oth¢r recognised %aio5 aDd losses Acrnarial gains Ilossesl on defined bencfit ponsion scheines 88.000 88,000 Net movement in funds 14n.774) (12 942) 61.000 112,716) Recullciliation of funds Total ndS brought forward 312.711 82,461 1421,OllOI 125,8281 Total funds carried forward 271.937 49.519 1360.0001 138,5441 Page 8
Citizens Advice Broxtowe (Reglstratfion number: 03618859) Balanee Sheet as at 31 l¥larch 2023 2023 2022 Note Flied a$s¢t$ T#ngible assets 14.066 16,966 CllrreDt g$$ets Debtors Cash at bank and in hand 12 13 18.999 363.170 13.804 394,591 382,169 408,395 Credltors: Amounts falling due withln one yer 14 128.857) 1103,9051 Net eiirrni #ssets 35?.312 304.490 Net asset$ eieludlng pen$lon Ilablilty 367.378 321.456 Pen$ion sthtme liabilitv 15 {53,000} {360.OOQI Net aS8etsl{liabilities} intluding pension liabxlÉty 314.378 {38,5441 Funds of the chsrlty: P¢nsion funds 153.000) 1360,0001 Re$trl¢ted Ineome fud$ Resm¢ted 21 77.405 49,519 Unrestrieted income funds Unrestricted 289,973 271,937 TotAI funds 21 314.378 138,54xl} For thc finattciAI yCaT CrtdthE 31 Matth 2023 thc charity w¥ orytstl¢d to ¢E¢mpbon from audiiunder8e£tion477 of the Compatti¢S Aet 26 rclating to st11 comp&nic5 Direciois, responsibililies ThÈ mcmbtrs not th¢ Gh•nty¢o obtsin 4udil of its aGGoun¢& foi ¢h¢y¢41 irj qu¢5tKpll accoithiice Willr ¥eiliyJi 470. Miwj The ditttlors *¢knowleJge IheiT responsibilitie5 foT CQTnplyins wiih ihe requirernentsof ihe Act with respect to Tecord5 and the Plep110n ofaccounis. These finAn¢ial statemtnis have been prtpaTed itt aCCOrdaneÈ t the SPEci81 pr$10n5 relatin8 companies subject to iht stMII companies reyme Within Part 15 ofthe Compartie$Act 2006. The financial ststements on pages 7 to 25 were approved by the tntte$. and auihori5ed for issue on 21.11/2.3.... and signed on their behalf by.. Arthur Seidel Tnjstee Page 9
Cltizens Advice Broxlowe Statement of Cash Flows for the Year Ended 31 March 2023 2023 2022 Note C*sh flows from operatlng activities N¢t cash income/(expenditurel Adjustments to ¢a$h flows from nonwca$h iten Depreciation Investment incom¢ 352,922 112.7161 4.894 11.529) 4,228 11.3511 356.287 19,839) Workillg Capital adjustrnents Incrcase in debtors (Decreasellincrease in creditors (Decr¢aseyincrea% in deferred income LDssllgainl on d¢fined pension scheme FRS102 Pension adjustment N¢t rash flows frotn operating activiiies Cash flows from investiD% attivities Inlerest re¢eivabl¢ and ssmilar income Purchase of tangible fLxed as$ets 15,195) (17,045) (58,003) 1333,000) 26,000 113.518} 37.997 58,003 (88,000) 27,000 14 14 130.9561 11.643 1.529 11.9941 1.351 5.724 Nei cash flow5 from inv¢sting &ctiviti¢s N¢t Idecreasellincrease in cash and cash equivalents Cash and casb equivalenT$ ai l April Cash and cash equival¢nrs ai 3 1 mi11 Reconciliation of net ¢asb flow to rnovemeDt in net funds {De¢reas¢llincrease in cash Nei ndS at l April 2022 Nct fund5 at 31 March 2023 1465} 14.373) (31.421) 7,270 394.591 387,321 363.170 394.-SQl 131.4211 7,270 394,591 387,J21 363.170 394.591 All of the cash flows are derived ftom continuing op¢rattons durit)g th¢ above ttvo periods. Pa8e 10
Citizens Advice Broxtowe Notes to the Financial Statements for the Year Ended 31 March 2023 l Accounting policies Summary of Significant accounting policies and key accounting estimates The principal accouniing kN)licics applied in the prcparation of these financial statcmcnts ar¢ set out below. These policies havc b¢en consistently applied to all the years presented. unl¢s5 gtherwise stated. ststement of complianfe The financial statements have been prepared in accordance with Accounting and Reporting by Charitics.. Siaiemcnr of Reeommended Practice (applicable to charities preparing their accounts in accordance with the Financial Rcporting Standard applicabl¢ in thc UK and Republic of Ireland IFRS 102}} (issued in October 2019) Ichariiics SORP IFRS 10211. Ihe Financial R¢porting Standard applicabl¢ in rhe UK and Republic of Ireland IFRS 1021 and the Compani¢5 Act 2006. BAsi$ of preparatjOD Cilizens Advicc Broxiowe meeis the definition of a public benefii eniity under FRS 102. Assets and liabiliti¢s are initially rOgnised at historical cost or transaction value unless otherwise slated in the relevant accounting policy notes. Going concern Thc flnancial siatemenrs have been prepared on a going con¢¢rn basi5. The trusiees asscss whether the use of going concern is appropriatc i.¢. whether ihere are any material unccnainties relaied io events or conditions ihat may Cast significant doubt on the ability of the charity to coJitiiiu¢ as a going concern. Th¢ tru5tCCs makt this assessm¢nt in respect of o period of onc yoar from the date of approval of rhe financial siatemenis. Income and endowment5 Voluntsry income illcluding donations, gifts. legacies and grants that provide core funding or arc of a general naturt is recognised when the charity has entitleTncnl to the incomc, Lt is probable thai the incom¢ will be received and th¢ 2Tnouni Can be measured with sufficient reliability. legA¢i¢s Donations ar¢ recognised when thc charity has been notified in writing of both the arnount and settlement da¢¢. In the event that a donation is subj¢ct to conditions that requirc a level of perfomance by the charity before the chariry is cntitled to ihe nds, th¢ income is deferred and not reco8ni5ed until either those condition5 are llY mei, or the fulfilTneni of thos¢ conditii)ns is wholly within the control of the Charity and it 15 probable that th¢s¢ ¢onditions will be fuifillcd in the reporting pcriod. Gr4nts receivrtble Grants are recognised when the charity has an entitlement to the fvnds and any conditions linked to the grants hav¢ been met. Where pcrlormance cvnditions are attached to ihc grant and are yet io be met. thc incotnc is recognised as a liability and included on the balance sheet #s deferred incornc to be released. Pagell
Citizens Advice Broxtowe Notes to the Financial Statements for the Year Ended 31 March 2023 Deferred income Deferred incorne represents amounts reiVed for fviure periods and is released io Incoming resouTces in the peri(Id for which. il has been received. Such incorne is only deferred when.. The donor specifies thal the grant or donalion inust only bc used ID future a¢eounting periods.. or rhe donor has impos¢d coDdiiion5 which musi be mci beforc ihc charity has uncondiiional eniitlement. Expenditure All expenditure is recogniscd Lince rhcre is a legal or constructive obljgation to that ¢xp¢nditurc. it is probable s¢ul¢meni is required and the amouni can be measured reliably. All costs are allocai¢d to th¢ applicablc ¢xp¢nditurc hcading Ihar aggregate similar Costs to that category. Where costs cannot be directly aitribuicd to particular headings th¢y hav¢ bccn allocaied on a basis consistent with the usc of resources, with central staff costs allocared on ihe basis of time spent, and depreciaiion charg¢s allocatcd on thc portion of the asset's use. uther support costs are allocated based (Trn th¢ spr¢ad ot"5tatt"¢051S. Charitable oclivities Chariiable expenditUTe comprises those costs incurred by the ¢harity in the delivery of lis aciiviiies and seTViCCS for lis beneficiaries. li includes both costs that can be allocated directly to such activities and ihose costs of an Indirect narnre n¢c¢ssary to support Ihcm. Government grants GovernTncnt gTanis arc recogniscd bascd on the accrual model and are mea5urcd at the fair valuc of the ass¢t received or receivable. Granis are classified as rela(Ing eith¢r to r¢v¢nuc or to asscis. Granrs rclaiing to rcvenue are recognised in income over ihe period in which the related costs ar¢ r¢COgnid. Granis relating io asseis are iecogni5ed over Ihc cxpccled us¢ful lif¢ of th¢ assct. Whcre part of a grani relatin lo an asset is deferr¢d. it IS recognis¢d as dcfcrrcd incomc. T4X4tion The chariry is considered io pass rhe tests sei out in Paragraph I Schedule 6 of the Finance Act 2010 and thfore it meeis the definiiion of a chatiiable colnpany for UK corporation lax purposes. A¢cordingly, ¢he ehariry is poi¢ntially exempi from iaxation in respect of income or capital gains receiv¢d within caicgories ov¢r¢d by Chapter 3 Part I l of Ihe Corporation Act 2010 or Section 256 of thc Taxation of Chaigeable Gains Aci 1992, 10 the exieni thai such income or gains ar¢ applied exclusively to charitable purposes. Tangible fixed assets Individual fixcd asscis costing £500.(10 or more are inifially recorded at ¢05t. Icss any subsequenr accumulaied depreciation and subsequenr a¢cumulated impaimieni losses. Depreeiation and amortisation DepTeeiation 15 providcd on tangible fixed asseis so as io wrlie off the cost or valuation, Icss any estimated residual value. ov¢r th¢ir ¢xpecied useful economic life as follows.. Asset clg$s Fumiture and cquipmcnt Computer equipttjeni Depreciation method and rate 15°I'O reducing balance basis 33.33°/0 5trai8ht line basis Page 12
Citfizens Advice Broxtowe Notes to the Financial Statements for the Year Ended 31 March 2023 Trade debtors Trade debtors are amounts due from customers for merchandise sold or services perfornied in the ordinary course of business. Trade debtors are recogniscd initially at the trdnsaclion pric¢. Thcy ar¢ subsequently measured at amortss¢d eost using the cffcctivc intcresi mcthod, less provision for impairn)eni. A provision for the impaim)ent of trade debiors is esiablished when there is objective evidence ihal the charity will not be able lo collect all amounts due according 10 the original ternis of the receivables. Cash and eash equlvalents Cash and cash cquivalcnts comprise eash on hand and call deposiis. and other short-tem) highly liquid investments that are rcadily conv¢rtibl¢ to a known amount of cash and are subject to an insignificant risk of change in value. Fund 5tructvre Unrestncted income funds are gen¢rdl filnds that are available for use at the tNstees' discretion in furtherance of the obie¢tiv¢s gf the charity. Restricied income funds ar¢ thosc grants for use in a particular area or for specific pu4)oses, the use of which is resrricred ro Ihar area or purpose. Pensions #Nd other post retirement obligations Thc Charity opcrates a defined conrnbuiion pension scheme which is a pension plan und¢r which fixed coniribuiions are pjid into a pension fund and the eharity has no legal or constrnctive obligation to pay further contributions even if the nd does not hold sufficient asscts to pay all eTnployee5 the bencfits relating tts employ¢c s¢rvic¢ ITi the ¢urrcnt and prior periods. Lon¢nbutions io defined contribution plans are recognised in the Statement of Financial Aciiviiies when ihey are du¢. If contribution payments exteed the contribuiion due for service. th¢ cxces5 15 recogniscd as a prepayment. The charity also gperate$ 2 defitted benefit pension scheme. Typically defined benefit plans dcfine an amount of p¢nsion bcnefit that an employce will receive on retiremeni, usually depcndcnt on one or morc factors such as age, y¢ar5 Qf scrvice and cornpensaiion. The liability recognised in the Flalancc Shcct in r¢5P¢Ct of defined bcncfit pension plans is the present valuc of the dcfincd b¢nefit obligaiion ai the reporting date minus the fair value of plan assets. The defined benefit obligation is Tneasured using the projected unit credtt method. The prescnt valllc of the defined benefit obligation is determined bv discouniing ihe esrimated futur¢ paymcnts by refcrcncc to market yields at the rcporting date on high-qualiry corporaie bonds that arc dcnominated in the currency in which the benefits will be paid. and that have t¢m]s to maturity approximating to the tems of the related pension liability. Aciuanal gains and losses are chargcd or cr¢dil¢d to other comprehensive income in the period in which rh¢y ari5¢ Page 13
Citizens Advice Broxtowe Notes to the Financial Statements for the Year Ended 31 March 2023 2 Income from doThation$ aDd legacies Unrestri¢ted fuDds Ceneroj Total 21123 Total 21122 Donations and legacics., Donations from companies. trusts and similar procecd5 Grants. including capital gryant5', Government gran15 58,478 58.478 10,632 18.030 18.030 112,294 176.508 176.508 122.926 3 Income frotll cbaritable activities Unrtstricttd funds Cener*l Re5tritt¢d funds Total 2023 Total 2022 Granis & donations Contracts & fc¢s Miscellaneous income 330,804 30,989 330,804 31,028 37,046 458.958 28,110 39 37.046 37.085 361,793 398,S78 487,068 Unr¢stri¢ted funds Gen¢r81 Total 2023 Total 2022 Int¢r¢5t r¢c¢ivabl¢ and similar IDcom¢: Inierest receivable on bank deposits 1,529 1.529 Page 14
Citizens Advice Broxtowe IYote$ to the Finaneial Statements for the Year Ended 31 Mareh 2023 S Grant5 & d•ts#tions Unrestrieted fuDds Restri¢ted fuDd5 Total Awards lor All Beeston Consolidat¢d Charity Broxiowe Borough Council Citizens Advice Naiional Lottery Community Fund .East Midlands Money Advice The Henry Smith Charity Y,548 Y,54¥ 1,099 169,lJ6 15.500 30,351 78.085 8.200 105,165 6.511 12,257 7,933 29,581 18.992 4,884 ?.000 8,070 1,099 70,868 15,500 98,268 30,351 78,085 8.200 58.003 6.511 12,257 Nottji)8linSIlirc County Council 47,102 DWP Ttussell Trust Sundry grants & donations Citizens Advice Nollingham Posicode Places Trusi The Thomas Farr Chariry John Easrnvood Hospice Tw8t Community Matt¢rs Fund 7,953 29.581 18.992 4.884 2,000 8,070 176,508 330.804 507,312 Page IS
Citizens Advice Broxtowe Notes to the Financial Statements for the Year Ended 31 March 2023 6 Expendlture oll charitable activities Unrcslricted Ceneral fuNd% Pensio fund5 l-otal 2023 'l-otal 2022 Rtstricttd funds Accountancy & ¢onsuliancy f¢¢5 Bank ¢harges D¢pr¢ciation DisburseTnenrs Corntnunications Gifts Insurancc 5,086 12,581 84 665 17.667 235 4.894 3,253 7,613 17.595 213 4.228 1,639 9.265 155 1,886 6,145 4.229 3,253 7,097 516 1,878 8,013 1,878 8,013 IT cquipment & support Legal & professional fees Misc¢llan¢ous ¢xp¢ns¢s Office cquipmeni Panner payments Postage, printing & stationery Premises Publicity & promotion Rectuitmeni Salaries. Nl & pension Staff training Siaff iravel & subsisience Subsci"iplig115 & referencc maierials VolunteeT expenses & training Homeless disbursemcni fund Iniernal recharges 4,823 937 4.823 965 1.296 1.251 28 165 Iti5 138.916 5,212 13,680 29 5.241 13,680 5.041 17.040 297 45 460.565 2.185 179,186 2.819 26,000 246,210 2,053 451.396 4,872 1,328 359 1,687 1.241 7.154 7.154 10.839 2,407 128 2,535 ,719 20,922 72,653 2(1.922 29.454 172.6531 174.765 26,000 356,228 556.993 712.061 Page 16
Citizens Advice Broxlowe Notes to the Financial Statements for the Year Ended 31 March 2023 7 Net IDcomingloutgoing resource5 Net in¢omingJloulgoingl resources for th¢ year include.. 2023 2022 Depreciation of fixed assets 4,894 4,228 8 .Staff tost5 The aggregate payroll eosis were as follows.. 2023 2022 Staff costs during the year were: Wagc5 and salaries Social security cos15 Pension costs FRS102 pension scrvice & interest costs 389,152 22.977 13.267 26,0(10 396,675 23,575 13.315 27,000 451,J96 460,565 The monthly average number of p¢r50n5 {including senior management team) employed by the charity during the year was as follow$= 2023 2022 Av¢rage number of employe¢s 22 28 1512022 - 231 of the abovc ¢mployees participatcd in th¢ Defined Contribution Pcnsitsn Schemes. 1 {2022- 1 l of the above employe¢s participated in the Dcfin¢d Bcnefit Pension Schemes. Contributions to the employee pension 5ohemes for the year totalled £13.26712022- £13,315}. No employee rec¢ived emoluments of more than £60,IJOO during the year. Th¢ total employee bencfiis of the key management personnel of the charity w¢r¢ £47.455 {2022- £46,294). Page 17
Citizens Advice Broxtoive Notes to the Financial Statements for the Year Ended 31 March 2023 9 Tru5tee5 remuneration arAd expenses No truste¢s. nor any persons connecied with them. have received any remuneraiion from the charity during the year. No truste¢s have received any reimburs¢d expenses or any oiher b¢n¢fits from the charity during the year 10 Fees PayAblt to illdependent examiDer During the period. The fees payabl¢ {excluding VAT} lo th¢ Charity's independent examiner Community Accounting Plus are analysed as follows.. 2023 2022 Independent exoniinotion 1.625 1.545 1.625 1,545 I l Tangible fjxed a55ets FurNlture and equipment Computer equipment Total Co$t At l April 2022 Additions 45,824 5,724 1.994 51.548 1.994 At 31 Mareh 2023 45,824 7,718 53,542 Dcpreciation Al l April 2022 Charge for rhe year 32.674 2.321 1.908 2.573 34,582 4.894 Ai 31 March 2023 34,995 4.481 39.476 Nec v4luv Ai 31 March 2023 10,829 3,237 14,066 At 31 March 2022 13,150 3,816 16,966 12 Debtors 2023 2022 Prepaymenis Accrued income 458 18.541 347 13,457 18.999 13,804 Page 18
Citizens Advice Broxtowe Notes to the Financial Statements for the Year Ended 31 March 2023 13 Cgsh and cash equivalents 2023 2022 Cash on hand Cash at bank 120 363.050 138 394,453 A61 170 194 $91 14 Creditors: amounts falling due wTthin year 21123 2022 nther taxation and social security Other creditors Accrua15 Deferred income 6.295 15.899 6.663 8.291 20.629 16,982 58.003 28,857 103,905 IS Pellsioll aiid othcr srh¢m¢s Defined benefit pension sehtmes Nottlnghamshire County Councll Pension Fund The charity participates in rhe Nottin%hamshire County Council Pension Fun<L a multi-employer defined benefit final salary scheme. The scheme is adminisiered foT the benefit of Local Authority employe¢s and other bodies and is matjaged in accordancc with the Local Government Pcnsion Schcme Regulaiions. The adminisrering authority for the Fund is Nottinghamshire County Council. The date of th¢ most rcccnt comprehensive aciuarial valuation was 31 March 2022. To assess the valu¢ of the Employerfs liabililics at 31 MaTch 2023, we have rolled forward th¢ value of the Employerfs liabilities calculated for the funding valuation as at 31 March 2022, using assumptions that comply with FRSIO2. The total cost relating to defined benefit scheme5 for the year recognised in profit or loss a5 an expense was 26.00012022- £27.0001 The total cost relating to defined ben¢fit schemes for the year included in the cost of an asset was £nil 12019.. £nil } Page 19
Citizens Advice Broxtowe Notes to the Financial Statements for the Year Ended 31 March 2023 Recollciliolion of$¢heme us$eis 4ndli&bililies ¢0 a5sels andliabilities Ye¢ugnis¢ The amounis iecognised in the stat¢m¢ni of financial position are as follows.. 2023 2022 air value ol"scheme assets Present valuc of dcfincd bcncfii obligaiion Defined benefit pension scheme dcficEt 572.000 1625.0001 553,000 1913,000) 153,0001 1360,000) Defined benefil h1}sli0 Changes in the defined bcn¢fit obligation arc as follows.. 2023 Present valuc at start of year Current scrvie¢ cost Interest cost 913,000 16.000 24.000 1310.0001 120.000) 2.000 Acwarial gains and losses Benefits paid Contribuiions by scheme participants Present value ai end of year 625,000 F4ir v414e ofJcheme assets Lhanges In The tair value ot"s¢h¢m¢ ass¢ts arc as lollows.. 2023 Fair value ai start of year Inieresl income Return on plan assets, excluding amounts included in interest incornejlexpensel Actuarial gains and losses F.mploycr conlribuiions Contriburions by schemc participant$ BenefLiS paid 553.(M)O 14,000 125,0001 38,000 i 0,000 2.000 120,0001 Fair value ai end of year 572.000 The major categgri¢s of scheme assets ale as follows.. 2023 £000 2022 £000 Cash and c&sh equivalcnrs Equity instruments Debt instrum¢nls Property 30 354 150 38 335 71 572 553 Page 20
Citizens Advice Broxtowe Notes to the Financial Statements for the Year Ended 31 March 2023 The pension Scheme has not invested in any of the charity's own financial instNmenis or in properties or other asseis used by the charity. Principol acmarial The principal actuarial assuTnplJons at the statement of financial position date are as follows= 2023 2022 Discount rate Future salary increases FUre pension increases Posl relirement mortality ussumpliows 4.80 3.90 2.90 2.60 4.20 3.20 2023 2022 Years 22.00 24.00 Years Current UK pensioners at reiirement ag¢- rnale Current UK pensioncrs at retiremenr age - female Fvturc UK pcnsioncrs at r¢tir¢mcnt ag¢ - male Fumre UK pensioners ai retirement age - female 21.00 24.00 22.00 25.00 23.00 26.00 16 Charity statss Thc charity 15 a company limited by guarantee and consequently does not have share capiial. Each of th¢ Iwstees 18 liable to eontribute an amount Dot exeeedJn8 £1 towards the a8qets nf the chanry in the event of liqttidation. 17 Tax#tioD The charity is a registered charity and is therefore exempt from taxation. l R Related party tr*nsa£tion5 There were no relat¢d party transaciions in the y¢ar. Pag¢21
Citizens Advice Broxtowe Notes to the Financial Statements for the Year Ended 31 March 2023 19 CommitmeDIs Capital tommitments We have IWLI oificcs across Broxiowe.. Beeslon wc have a lease agreemeni lu rent our 0]¢¢5 within ihe Council building for £10.000 per year lall costs in¢lud¢dl. This is a payment in kind as part of our 3 year rolling ¥ranl agreem¢nl du¢ to be renewed in April 2024. Eastwood - we rent offices trom Noiiin¥hamshire County Coun¢il and are paff of the Librdry and Infomiation Building. The rent is paid annually iogeiher with shared servic¢ and mainienance costs with the gth¢r 2 icn)nts. The lease expired iii Marcli 2023. We also run an outreach in the Stapleford Care Ccntr¢ 3 mornin8s per week but with no ¢ost to this and tso formal agreemeni. The total atnount contractcd for but noi provided in the financial stsiemenis was £Nil12022 - £Nill. 20 ADalysi$ of net 8$sets betweell fulld$ VDrestri¢ted Pcnsi&tt 2023 Total funds GenerAI Dè*i%Mated Re.%trieted Tangible fixed assets Current assets Current liabilities 14,066 274.764 {28.857) 14,066 382.169 128.8571 {53.0001 30,000 77,405 Pension s¢h¢m¢ liabiliry 153,000) Toial nei assets 259.973 30.000 77.405 153,000) 314.378 UDrestrict¢d Pen51011 funds 2022 Total fund$ General D¢$ign4ted Restriettd Tan8ible fLxed ossets Currcni asseis Current liabilities 10.966 328,876 1103.9051 16.960 408.395 1103.905) 1360.000) 3O,0(K) 49.519 Pension scheme liability (360.OaOI Total nei a5S¢ts 241,937 30,000 49,519 1360.0001 138.544) Page 22
Citizens Advice Broxtowe Notes to th¢ Financi21 Statements for the Year Ended 31 Mareh 2023 21 FuDds Other BAlan¢e at Re$ource5 recogThR$ed 31 March expended Transfers gains1{lossesl 2023 Ba14nce at I April 21122 Incoming resources Unrcstricted funds GeNerol Gencral funds 241.937 215,122 1174,7651 {22,321) 259.973 Designoled Designaied funds Total unrestricted fullds 30.000 30,000 271,937 215.122 (174.765) (22.321) 289,973 RestrReted funds Easr Midlands Moncy Advice The Henry Smith Charity Housing Homclcss Prevention fund M¢diation Project National Loitery AOP Awards for All Kickstarter NCC Financial Resilience Trussell Trusi Wellbeing Hub Homelessness disbursement fund 10,114 78,085 {91.440) 3,241 20.143 9,515 8,200 26,065 (15.822) {29.182) 12,521 6,398 6,283 30,920 30,351 16,988} (25,924) (38,516} (18.878) 16651 15,428) 1705) 4.996 1.582 9.747 9,297 {1.330) {1,083) 9,548 6,511 7.553 58,003 12,257 35.000 (69.046) (13.410) 11.043 1.153 35.UIM) 30,989 (20,929) 10.060 Totgl restrirted fund$ 49,519 361,793 (356,228 22,321 77.405 Pensio reserve Pension funds 1360.0001 (26,000) 126,000) 333.000 153,000) 1360.0001 333,000 {53.0001 Total funds 138,5441 576,915 1556,993 333.000 314.378 Page 23
Citizens Advice Broxtowe Notes to the Financial Ststements for the Year Ended 31 March 2023 The transfer from the Awards for All fund to the General fund represents the net book value of fjxed assets. the use of which is not subject to any resiriciion. The transfer from the General tiind io the Easi Midlands Money Advic¢, AOP, NCC Financial resilence, and Trussell Trust fund is 10 Cover ihe deficit on these aciivities. The transfcr from the KickstArtcr fid io the Generdl fund relates io acuvilies which ceased and the release of resiriclion on the use olthis fund. The specific purposes (or which the funds are io be applied arc as follows- Dc5ignated fvnds - atnounr agreed by ihe irusiees for future developmenr of the organisation. East Midlands Money Advice - Delivenng free confidcntial money advice io p¢oplc who ar¢ siruggling to pay debts OT have defaulted on payments. The Henry Smith Charity fund A ¥ranr 10 work in pannership with Nottinghamshire Mind lo deliver early intervention advic¢ alongside mental hcalth recovcrin&T work. Homeless Preveniion Fund - Funded by Broxtowc Borough Council. a fund to asslst with ¢Tnergency payEn¢nts 10 preveni homelessness. Housing - funded by Broxiowe Borough Coun¢il advising clicnis who arc at risk of hom¢lcs5ness, in t¢mporary accommodaiion or looking 10 sccurc housing in th¢ Borough. Mediation Piojeci - Broxtowe Mediation Pam)ership (consists of Broxiowc Borough Council, Citizens Advic¢ Broxtowc and Broxtoyic Youth Homlc53n¢s3}: To provid¢ m¢diation 5¢fvL¢¢S to rcsidcnts of the Borough of all tenures of propery, this include Broxiowe Borough Council ienanis. The parn)ership is also established for associated seeot)dary purposes.. PTeveniion of Homelessness Prcvcnling homclcssncss is a staNtOry T¢quir¢m¢nt for Lo¢al Authorit1¢5. A m¢diation 5¢rvic¢ is a possibl¢ rou for some homeless prevention cases. This could be panicularly thc cas¢ in familics and situaiions involving younger people bul it could also have a rolc in issues between landlord and ienant, R¢501ulion of Neighbour Disputes and Anti-social Bchavjour Neighbour disputes and anti-social bchaviour hos a profound n¢gativ¢ impaci on comTnunitlC5. m¢diation clln b¢ an Important way of resolving long sianding Issues. particularly at a lower Icvel. It can also have a posiiive impact in diffiising issues between neighbour5 before Ihcy become bigger LSSUCS in the tuture. National Lottcry - We work in partnership with Nottin¥hamshLr¢ Mirtd, Citizens Advice Ashficld, Cit12cns Advice Mansfield, Citizens Advice Sherwood & Ncwark. Cirizcns Advicc Basscilaw and Ciiizens Advicc Noltingham & Disiric15 to deliver a project designed to give p¢opl¢ advice to solvc th¢ir probl¢m$ rog¢ih¢r with mental resilience and recovery help to deliver long iemi assisiance ai a time of crisis. Partners are required io achieve defirled outcomcs for benefieiaries as follows.. Better equipped to be able lo identify and problerns through intreased mental resilience: Increased confidcnce to acccss help and suppori whcn it Is nccdcd: Reduced isolaiion and lonclin¢ss.' Increased developjnent of new skills., Incr¢as¢d optimism about th¢ futur¢. Ther¢ are also some additional out¢om¢s i¢quired.. al An ernbcddcd ouicomes based approach to communiry advice work tor those mosi vuln¢rabl¢ r¢peat cli¢nts. bl Release capacity for LCAS to deal with other crisis. ¢1 Reduced pressure on other service providers. d} A cemenicd and Joined-up approach across Nottinghamshire LCAS. AOP _ Advice on Prescription. A grant awarded from Nottingham Wesi Primary Care Trust to enable paid advis¢rs to tak¢ r¢f¢rrals from GPS. So¢ial Pr¢s¢rib¢rs and oth¢r h¢alth car¢ prof¢5sionals to h¢lp cli¢nts with underlying issues affeeting their health. Awards for All - Capital grant for n¢w IT ¢quipm¢nt. Page 24
Citizens Advice Broxtowe Notes to the Financial Statements for the Year Ended 31 March 2023 NCC Financial Resilence This pilot project enabled us 10 employ and train 2 siatr members to ¢arrv out rInancial resiliance work with clients ai a time of high demand due to the Cost of Living Crisis. The funding has now ended and been replace with the UK Shared Prosperity Fund via Br()xiowe Borough Council. Kickstartei - A government initiative run through the DWP which enable employers to employ people claiming JSA and their wage5 would be covered for a sei period of time. This sch¢me has now ended and was very successful for us and enabled us to train statT and then award them pcnnanent roles with Oilr organisation. Trusscll Trn$l a grnnl awarded so wt can run adyicc se55101)S iii Hope Noiiii18liaiJJ fVUdbai. Wcllbeing Hub working with our partncrs. Notlinghamshire Mind, Ihis proj¢¢t provides support to resid¢nts in the Eastwood and surrnunding areas wilh menial hcalth support. Wc provide longer tcrm prCtIcal advit¢ and support whilst Noitingharnshire Mind work with residents io provide recovery coaehing and build rcsilience for the fUre. The.¥e uj'e ihefigttit.Yfoi' theprevious accoun¢ingpei'£tsdartd ale ¢ncluded]op' compaYa¢ivepÈirposeJ Other Balan¢¢ at r¢¢ognised 31 March 'l-ransler5 gainsl(lossesl 2022 Balance at I April 2021 Ineoming resources Resourccs expcnded Unrestricted fund5 ewer41 General funds 259,211 124.277 1173.389) 31.838 241,937 DesigKdled Dc31snatcd funds 53,500 123,500} 30.000 Total ut)restrlcted funds 312.711 124.277 (173,389) 8,338 271,937 R¢5ti"ict¢d East Midland% MvJiLy Advi¥L Thc He[ Smith Chariry Citizen5 Advice - Help to Claim Best Practice Lead Housing Homeless Prevention fvnd Eastwood Wellbeing Hub Mcdiation Project National Lottery 5,4D5 72.948 168,239} 10.114 17.683 23.650 121.190) 20,143 36,772 2,395 8,066 107,855 37,562 25,600 (144,627) {.39.165) {24,151} 1792} 9.515 1.344 34.393 135,7371 10,796 40,000 127.757) (23.039) {15.493) 15,493 1135.313} 145,060 9,747 Total restrleted fund$ 82.461 487.068 {511,6721 {8.3381 49,519 Pension reserve Pension fi]nds (421.000) 127,0001 88,000 1360.000 1421,0001 {27.000) {712.0611 S8,QOO 1360.on Total funds {25.8281 611,345 88.000 138,5441 Page 25