Charlty registrallon numb•r 1077828 Company registratlon nwnber 03618859 {England and Wal03} CITIZENS ADVICE CENTRAL NOThINGHAMSHIRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CITIZENS ADVICE CENTRAL NOThINGHAMSHIRE LEGAL AND ADMINISTRATIVE INFORMATION Trust•es M Barrfryion C Drysdale G Gadie J Heeley S Lagoo J Mathary lAppoInt￿ 2 January 2024) {Appolnt8d 2 JaNary 2024) IAppolnt¢d 2 January 2024) (AppoSntad 19 February 2024) A Russell A Seldel D Smlih (Appotnted 2 January 2024) S•cr•tary S B881wlck Charlty nwnb•r 1077828 Company numb•r 03818869 Regl8t•r•d offi¢• Tho LlbraryAnd Infornauon Contre Eastwood Nottlnghomshlre NG16 3GB Audltor Rogm Sponcer New8tead Hous• Pelham Road Nottlngham NGS 1AP Bank•rn Lloyds 12-16 Lowor Parllament Streot NottSngham Nottinghamshiro NG13DA CITIZENS ADVICE CENTRAL NOThINGHAMSHIRE CONTENTS Page Trustees, roport Statemonl of Trustees, responslbilltl6s Indep8ndenl audllorfs report 8-11 ststement of financial aetfvitlès 12-13 Balanc6 sheet 14 Statemant of ca8h flow8 15 Notss to the ftn8nclal statemenls 16-31 CITIZENS ADVICE CENTRAL NOThNGHAMSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The TnK8t88s present their annual rowrt ond llnanclal statoments for the year end8d 31 Marth 2024. The Ilnandal statoments havé been wopared In acrA)rdanc8 wlth th• ac¢omtlng p)Ild•8 sét out in not8 1 to Ihg financlal statements and comply with the charity's governing do¢umenC the C￿1panIeS Act 2006 and "Accountlng and Reportlng by Charftles: Statement of Recommended Practlce appllcable to charitl6s preparing thelr accounts In accord8nco wilh the Flnancial Reporting Standard appllcable In the UK aTrJ Republic of Ireland (FRS 102)" (effective 1 January 2019). ObJoctfv•• and actfvitle• citlz&n$ Advice Contral Nottlnghomshlr818 08tabllsh8d for tho prornotk*n of charltablo puwB for the bengflt of the communlty kn Ihe Borough of Broxiowé and the Distrld of Ashf18hJ arKI N￿ork & Shepwood and suffoundlng ar6as and In the County of Nottlnghamghlr6 for the advancamanl of education, tho protècllon of health and the r8llef of poverty, slcknass and dlstress. Th6 Chadty provldes free, ifflparilal, ￿nfidentIal and Ind8p•ndent advlca for the benefft of the local ￿n￿nunIty In Broxtowe. Ashfleld and Newafk & Sherwood and tho wid8T Nottinghamshlre o)nNnunity as appropflate. Wo a180 exerclso a re8ponslble Infiuence Iho developmont of sod81 polcl88 and 8ervlce8 and to ensure Indlviduall do nol suffor through lack d knowlodge or an Inablllty to expre88 th•lr n*s effothety. PubNc banefft Th6 Trustees have pald duo regard to gUIdan￿ 188ued by thfr Charliy Commi8sIoD In docidlng what actlvltle8 the Gharlty fjh￿ld ￿KIertake. How these actl¥lll88 bonofil the publk: Our staff and volunteer8 have rfsen to Ihe challèrye a8 alway8 and tholr work eontrlbutos 10 the astonlshlng Impact wè makè, holplng dlents a¢ee88 much needed addltlonal Income, worth fi￿rIY £6.9 mllllon In lot81. Evaluallon of dl•nl outcomes18 knpDrt￿t to U8. We need to know thal our has a la8tSng Impact and have developed advanrAd ways of measurlng Ihls. This yew ouf cllent 8valuatlon coll￿ted 214 responses to questSon6 regaTdlng thè sustalnabllty of advlcè outcom98, well*6lng and $pedfk qu88tlon$ on how effeclfvo our supporting poopt8'8 finandal resllence Is. To summarlse, peopb u$ that Ihey have Improved 8bllty to resolva or got help th problems In the future, théy feel mor8 SUPWted gnd19s8 Isolaied 8nd almost 88% ot clients toport a rn&a8ure of Improved flnanclal resillgnco, an area of work thal we are devoloplng In fubjre due to its importanc¥ and rolevance to the whole comunity In Broxtowo. Ashfi8W & Newark & she￿Ood. Through the Finan¢lal Reslllence proJecL we have a long4emi plan lo help more of our dlents shSft Ihelr position In the labour mart(et and increa89 financlol w¢n*elng. We i)ffor a rang8 of projects alonggld8 our corn Advice service and 811 of these benefil 8roxlfM8. A8hllekl & Nowark & Shen+¥cod rgsidents, these projects rnngJ from Medlatlon S&r4lces, mental health 8UPPOrt. fjnancial 1gslllen¢e WO￿ monoy and hous*y advl¢e. weware benefits work. projects which wort 81ongslde hoallh profe86ional$. CITIZENS ADVICE CENTRAL NOTTINGHAMSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perfornMn Significant activlNes and achievements agalnst obJectlv8S citlzens Advi(* Central Nottinghamshire Is 8 local independent charity for the community that deliv&r¥ a slgnific8nt impact for the ci)mmunity. Layt year It helped 15.333 irKlividuals with almost $5,451 problems. Tho main eryulry areas are t*n8ftts, hou$irvJ and dabt. How8v8r. In 2023124 we s8w enquirles for help lo a¢c8ss chaiitable suppcrf maklng the top four for the first Ilm8 followed by probl8ms with utilities. Demand Is up on last year with a stsggerlng Increase durfng the last quart&r. Overall. thls data shows the impact of the cost￿41v[n9 is biting hard across Central Nottinghamshlre. F88db8ck from our partners 1$ posftlve. They tell us that we holp thém vAth thelr oblgdiv8s for the good of Broxtowe; Ashfreld & Newark & Sknood and we recekved a 940A approval rating for our partnership worklng. Wé know that together thlr collective Impact for1he comrnunlty Is greatar. This y8ar we have taken lh8 Ilme to provlde a summary of additlonal projects wé Nn th8nks lo funding addltlonal lo our cora Servlco. Th8se projects Increase our capadty lo help more p6ople and delfvèr ca88work OD rnattth3 that are moro complex or for cllonts that need structured support wlth multlple problems and dlsadvantages. It Is 8190 Important to m8ntlon that ihé &Jdttlonal restrlcted fvnds wa ralse for projects r8pre$ent new Investment In Broxtow8: Ashfiely & Newark & Sherwood 88rvlc86. Thls year Ihg Value of new Investments brought In by our charity was £923,305. Our volunteers glve thglr Ilme io Iha (x>mmunlty freely, The work they earry oui Is valued at £945,728. They al80 galn the skllls and Èxpèrtence to move Into pald employment. We offer face to fac• advice from premises kn 8e8storn {CO•located wlth Broxtowe Borough Coun¢ll), Eastsyood (as part of the Library bulidlng>, Ngwark (M local6d with Newark & Shepwood Dislrlct Councll}, Ollerton (Freohold Premlses), Ashfield {Co Iocaled In Kirkby Health & Wellbèing Centrel and we heve multlpl8 outreach b¢atlon acro$8 Central Nottinghamshlre. Our staff and volunteers work from these 5 sile$ Monday to Frlday wlth 8omg stsff operatlng a hybrld worklng wook from home. Advlce Is also provlded by 18laphone. emall and webchat. Durlng th8 year our staff numbar8 ranged betw•èn 22 and 58 at 8ny one time worklng alongskl8 our volunteer worlrf￿ of approxlmately 89 Includlng our Twstee Board. Flnanclal r•vi•w Cllizens Advice Broxtowe merged ¥￿th CNlzens Advlce Ashfield and Citizens Advlce Shorwood & Newark in January 2024. Therefore. Iho organisation ondod the year In a bott8r financlal posltion than prndicted. CACN 18 rellant on incorne from Loc81 Authorlty and project funding. Tolal Income durSng the year was £1,609.431 (2023 - £576,915). Of th18 £662.737 (2023 - £330,804) relat8d to kvolect ro$trScted adlvltles. Net Income for th8 year ended 318t Morch 2024 was £597.391 (2023 - £19.922). Thérn w88 also a rp-moasurement galn d8fined benefrt pensi￿ schtsme for tho year endod 31st March 2024 of £14,000 { 2023 - Loss of £26.(M)O) At 31st March 2024 total reseNe8 were in swplus by £1,104.769 (2023 - £314,378> Indudlng a penslon res8rve dell¢lt of £67.(XKi (2023 - £53,000) CITIZENS ADVICE CENTRAL NOThINGHAMSHIRE TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Re$erve$ Poficy Th8 Trust88$ b81iev• that CItiz￿$ Advico Central Nottlnghamshire should hold financlal reserves in or(ler to ensure Ihal the tharity ¢an continu6 to operate and meet the needs of dlents In the event of unforoseerb and potentlally fjnancialty damaglng circumstances arising. Whon consld8rlng the Tlght levgl of r06eNos. wo wil tsk8 into thè followlng., foraca$t$ of future Income, the reliablllty and $ustalnablUty of aath gourGe of Income and prospects for obtaining income from new sources forecasts of fijture axp8ndltura, basèd on planned aclfvlty • analyEis of futur8 requlr•ments, OFPOrtunitles, contlngencles (8.9. redundancy and other ccmtractual obllgations such as matemlty leave) or risks whlch are unlikgly to be mred by income M and when they aflse anal￿19 of the Ilkallhood of such rfsk8 arlslng and rA)nsoquen¢es to Ihe ¢harfty If Ilw cannot be deali wlth. Unroslrfclèd reswves Unre8trlct8d reseNe$ arg 8vallable for 8p8ndlng on tho object8 of tho chathy as the Thists88 wlsh. There are Iwo typos of unrn5trctod rg¥orve$: g$noral r•sorves, that may be used generally to further the ch8rlVs objects and doslgnated reseNes, ￿lch are unrestricted fund8 set a8lde ty the Tru8teg8 a 8peGlflc purpojg. Each yèar'8 budgét wlll Indude tho budgetgd merv8s at tha year Or￿. calculatod by taking th8 Unrnstrtcted R•$orve$ and subtractlng Daslgnatsd Ro6eri8s for 8poufic pur[M￿08. The D￿Ignated Re$erve$ wlll Includo., Redundancy should the tharlty c108e Other dosure C￿t$ should tha charlty elosa Any oth6r designated r08er4e8 agfe•d by ihe TNg198 804rd The remalnlng Unre8tr1ctsd R88er¥88 WIH be con8ldered agalnst the budgeted monthly opgratlng c08ts for the year. The Trustèes have excludod th• Nottingham8hire County Council pens1￿ exit liobility from th• ¢8lwlqtlon ol reserves on Ihe bas18 that th1$ 1$ a long tgmi labllty that 1$ belng &d8quately managed and Is not expected to cryslalllsé In the foreseèable fijture, The Tru81998 keep the ￿nall￿ li8bllity under rogular revl8w arKI underJl8Dd the cIr￿ms1ancOS when it would b8com8 payable. The Tru8teo$ believe that on thls basis, six months UnTrstrlcled Reserrfes, net of thè Deslgnatod Reserves, Is a prudent level. However, from tlme to time the Trustee8 may agree a budget whlch 8how8 year gnd expected resgrvgs to bg lowor than th1$. R8s6Thffj8 wlll be roporled each qu8rtor wllh a forecast for the yew errfj resoNe$ comparod to budget. CITIZENS ADVICE CENTRAL NorriNGHAMSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 PIFncipal fvnthng sources Major core funders includè N8w8rk & Shenyood District CounGil, Ashffield District Councll. Broxtowe Borough Coundl and Nottlnghamshir8 County c￿n¢11 8bNJ wilh those local parlsh and town ¢ounci18 whlch have supported the core operatlng capaclty of CACN. The trustee l)oard extond thelr gratitude to tho ongoing finanual support recelved from these parlnèrs. In addlllon, N8wark & Shepwood DIS1rf￿ Council and 8roxtow6 Borough council provldès CACN wlth ac￿mmodatIOn In Nowark. Eastwood and Beaston al a ¢onces3lon lo the market renL Also, CACN qualifie5 for a lull exemptSon lor business rates from tho loc81 aulhorlty. Addttlonally. project spedfiG fvnding was r8celved from: Communlty Advlce & Law Sgp4lco In ￿pport ol MAPS (Money Advle8 & P8nslons S8rvlc8) debt setvlces. Newark & SheThvood Distrld Councll In support of homelessness prevention., welfar8 b8n6ffts and outreach, Broxtowe Borough Councll for hou8lng,' flnanclal resllience and medlatk)n, and Wellbelng Hub, National Assoclatlon of Citizéns Advlce Bureaux In support of energy advlce sèrvic88. r8nM)tè delivery and cost of livlng, Nallonal Lottery Community Fund In support of remote suparvlslon; OU￿aCh and early InterventfoTr, Tru69ell Tru8t, 8UPPOrt and advlce. Acce98 to JustSce Foundatlon (IOTLSI for welfare beneflts, Henry Smllh Charty. financial reslll&nce advSce, Change Grow Live, 8upporUng p8oplo with complex need8, Nottinghamshlie County Councll, cost of hvlng, finanGlal re¥lllence and 8UPPOrt ￿1h the Hou8ehold Support Fund, NHS Nottlngharn & Nottingh8mshlr8 Integratèd Car8 Board. 8dvice on pr08crfplk)n Colllngham Rur81 AdviGe & Resource Centre (CRARC). outreach. Thg charity dSd not havo any borrowngs from ollher providèrs of fundtng or other 80Ltrc88 at tha balance sheet dale. Major rtsks The Trustees have a rtsk manBgem8nt strat8gy whlch revl8ws slgnlflcant rlsk8 and uncertalntt88 by the Charity and the relevancè of Its Insurance pollcles. Apart from key Insurance pollcles, other measur85, e8pecl<y wll¢l8s and pr<)c8dur8s arn revlewed whlch can mltlgate dsk. The oarflor emphasls on malnlalnlng po8ltfv8 relallonshlps vrith funder8, trylng to devèlop r88elVO8 and altemalive wurc88 of Incc¥no stlll remaln both r8l&v8nt and very much a wicffity. The Tm$te•$ have agreed a budgel fc* 2024125 wlth a deficit of £245k, In thg 8XPaCtation that th• organS98kn wlll secure additional fundlng during the year lo slgnlficantly reduce thi5 deficlt. The Twslees are confident that Ihp organlsation will fini$h th8 year with Yesorves *fjthin the reseTve3 pollcy. All the Incomg from funders is gu8ronteed 8nd we do not expect any of thom lo end agreem8nts garly. Our Chlef Executive Officer, Opwatlons Director and Impact & Evaluation Manager have a fundlng strategy agrèed by the Board and contlnue to apply for grants and develop parinerships to generate future funds. Th8 Chl&f Execulfve Offi¢er malntalns rnlatlonshlps wlth 8XiSting funders to enswe continu8ti)n. Plans for fulurn perlods The Charity will look to ￿h1O¥Irt9 balanced budgets rather than deficit ones over the next 2 to 3 years and protecting our res8lV8s. We will conllnue to work in collabor8tlon vAth p8rtnars local￿ IncludSng the other Citizens Advicé local olTi¢¢s to ensure SUBtainability and offiGi8nGy to $tabili¥¢ and sècurn the Charity's financlal position. Addltlonal funding strèams are contlnually belng $oureed by the CEO. Senlor Management Team and the Impact & Evaluatlon Managèr Whilst at the sam8 tlmo proleding our existlng fimdlng by offering a high quality. robust and 8ffectlve service to the resldents across Central Nottlnghamshlre We havo a robust bu¥iness plan eovthj the ￿nI)d 2024 - 2026 vthlch contaln$ Ilnks to other plans 8u¢h as fundraisirvj strategy, research and campabgn plan, communlty need5 analysls and communication plans. CITIZENS ADVICE CENTRAL NO￿INGHAMSH1RE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structurgl govorn8nc0 and management The Charity is a company limited by guarantse and reglstered charlty. 11 Is op8ratsd under the rules of Its Artldes of A8soclatlon dal•d 2nd January 2024. The Charity has been in existence 81n¢• September 1974. The Trustees, who aro al$0 th8 directors for the purpose of co￿VanY law, and who served durlng the year and up to Ihe date of signaturé of the financial statoments were: M Berrlngton (Appolntsd 2 January 2024) B Carr (Reslgned 1 January 2024) F Carter (Resl&Thd 1 January 2024) J CauStffl-Winter (Reslgned 18 August 20231 C Drysdale G Gadle JHee 8 Lag09 J Machery M Pringle A Russell A Seldel D Smtth G Wllllams (Appointad 2 j￿Uary 2024) (Appolntsd 2 JaNary 2024) {Appolntod 19 February 2024) {Appointod 1 Fobruary 2024 and ro8lgn8d 20 May 2024) (Appolnted 2 Janu8ry 2024> {Reslgned 1 January 2024) R8cnJKment and appdntrnent of trustees Trustees are appoinlgd by an own recNltment m8thod wlth vaGanGSes advertlsed through Ihe Cltlzen$ Advkè network and our Ioc81 contacts. we also usg ChaTityJob. NCVO and Reach webslles. Intergsted pgopl¢ WIK) apply will then be invited for an infonnal chat wlth thè Chalr b&foro more fonnal prooee¢lngs b8gln Includlng appllcatlon f¢m$, intgNlew and references, due dlllgonc• to check not prevlously dl$quallfi8d atc. The Trust￿ then folow an Inductlon proc•BS wSth tho Chief Executive and are ollerad tralnlng QPPOrtuniti08 a8 8ppr¢prlale. The day to day managèmént of tho charlty l¥ delègated to th8 Chlof ExKutlve Offl¢•r ond th8 Op8rnllon8 Director. Fund• held u custodlan Iru•tO• CA Central Nottlnghamshlrè holds fvnd8 on bohalf of Broxtowe Borough Councll. By mutual agreement and signed Servlce Level Agreemenl th8 Homolossness Preventlon Funds 8r8 hold in a Separate Lloyds Bank account. Use of Ihe fund can only be lo rèsolvo h0mol0ssno￿ at thé prevontion 8tag8. oa8lng the damand on the Coundl'8 houslng optbns seNIc8:. ensurlng ca6es are resobled oarfS&r. successfuly prevenfjng hom8188sness to dlents who would be deemed prlorfty need by the Councll r08ulllng In a roducuon In the demand 8nd use of the Ccuncll's temporary accommodalh to resolve cases of Ihrea16ned homelassness withln Iho private rented sector In ￿nIUnction with other sthem88 such 88 Gall Before You Serve and ref8rral8 to other support and 8dvice provlders wlll encourage the sustalnment of tsnanGles which thè private ronl8d 8oc*or whlch In tum wlll ease the burden on thè C¢)uncth's Houslng Reglst6r. R8fgrraL8 to the schpme aro assessed by iwo managorn and folh)wlng Ihe nomial bank mandate. Audhor In ac¢ordance with the ￿MpanY'S artid6$, a resolutlon woposing that Rogers Spencer be reappoint￿ as audltor of th6 company bMII be put at a Goneral Meetlng. CITIZENS ADVICE CENTRAL NOTTINGHAMSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Dlsclosur• of Inforniatlon to audltor Each of the Trustees has confirm8d thal there Is no information of which they are aware which 15 relevant to th8 audlt, but of which the audltor Is unavAre. They have further Conflrmed that they have taken appropriate steps to klenttfy such relevanl Information and to establish that the auditor Is aware of such information. The Trustsas, report was approved by the B08rd of Trusleos. S Lagoe Tru•to• Date: .... CITIZENS ADVICE CENTRAL NorriNGHAMSHIRE STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who aro also the directors of CitiZ8n8 Advice C8ntral Nottlngham5hlre for the purpose of company law, are responsible for preparlng the Tru5tees' Report and the flnanGial statements in accordance with apdicable law and Unlted Kingdom Arcounting Standards (Unlled Klngdom Generally Accepted Accounting Practice). Company Law requSre$ the Trustees to prepare financial slatements for 8ach financial year which giv8 a true and fair vlew of tha stale of affairs of Ihe ¢harlty and of tho incomlng resourc8s and application of resources, induding the Income and exp•ndlture. of the charitab18 company for that year. In preparlng these Itnanclal Ststem￿l8. thg Trustee6 are requlred to: - tsloct 8ultable 8ccounbng pollGles and then apply Ihgm consistently; - observe the m8thod$ and prlnclpleg In the Ch8rltles SORP: - make Judgements and estimatos that are reagonable and prudant,. State whether 8ppllcable UK Accountlng Stsndards have been fc41ow8d, 8ubJect lo any material departures dSBclo8od and explained In the fSnanclal 8tat8m8nt$', and prepare the ftn8nclal 8t8temen18 on the golng concem ba818 unle¥$ It 1$ Inapproprfale to presume that the charfty wlll ¢ontlnu6 In op6ratlon, The Tru8te88 are re8pon81ble lor keeplng adequate accountlng reeAyd$ that d18cIoB6 ￿th re8sonable a￿uraCY at any tlme the fln8nclal poBlllon of the ¢harlty and enabl• thèm to ensure that the financlal statements comply with the Companles Act 2008. They are 8180 r8sponslb18 for Safeguarding the assets of thè charlly and hen¢6 for taklng r8880nable steps for the pr8v8ntlon and dètectSon ol fraud and other Irregul8rlUes. CITIZENS ADVICE CENTRAL NOThINGHAMSHIRE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF crrizENS ADVICE CENTRAL NOTTINGHAMSHIRE Oplnion We have au(Ated the fln8nclo1 statements of Cltlzens Advlce Central NollEngh8mshlre Ilhe 'charfty') for the year er)ded 31 March 2024 which CA)mprise the statement of financlal aclivities, the balance sheel, Ihe statement of cash flows and notes to the financial stalem8nts, incI￿lIng slgnifiGant accounting policies. The fmancial reporting framework that has been applied in thelr wparation Is applloable law and Unlted KtnGYlom A￿untIng Standards, Includlng Financial Reporting Slandard 102 Th8 Fln8nci81 Reporting Standard appllcable in the UK and Ropublic of Ireland •d by tho Compan1•8 Act 2006 In our oplnion, based OD the work undertaken in Ihe course of our audit: the infomiatim glven In Iho Tnjstees. reFx)rt for the financlal year for which thè financlal slalemènls are propared, whlch includes the dlrectors, rèport prepared for the purposes of company law. is consistsnt wtth the financlal stat6ments: and the direciors, report Included wilhin the Trusteeg, report has bgen prep8red In accordanc8 wSth appIl￿ble legal requirempnts. CITIZENS ADVICE CE￿rRAL NOThINGHAMSHIRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CITIZENS ADVICE CENTRAL NO￿INGHAMSH1RE Matters Dn vknich wfr aro requlred to report by ex¢eption In Ihè light of the knowledge and understanding of the ¢haTSty and Its envlronment obtained In thé course of the audlt, wa have not identified moterlal rnisstatements In the dlrectors, rep￿ Included wlthln th8 Trustses, report. We have nothing to r9POrt in respect of th? followlrg matters In ralallon to vthlch tho Compan16$ Act 2006 requlres us trj rowt to you rf, in our opinion.. alèquaté accountwlg records have not been kep( or retums a(lequate for our audlt hav8 not been retèlvéd from branches not Vigiled by us; or the financial 8tatoments are not In agreoment ￿th the a(%0￿￿n9 records and rotums; or certaln dlsclo8ur88 of trusteas. rnmunerath)n specified by law are not made. or we havè not rècalved all the infornatk*n and explanatlon8 we requlre for our audlL' or the Trustees wer6 not entitled to prepare th8 finanGlal statements In accordan￿ wlth the small companle8 reglme and take advantage of tho small ￿MpOn1&S. exempts'ons In preparlng the Trust￿$. r•port and from the requlrèm8nt to prepare a strategic report. R•8pon•lbllltlo• of Thi$tMs AS explglnad more fully In the statoment of Truitees, re8ponslbllStles. the TN6te06, who are also tho dlreclors of t charity for the purpose of company law, are responBible for th8 preparatlon of the financlal 8tstements and lor being Satisfied Ihal they glve a truo and fair view, and for such Inlemal Control as tha Thst8&s detemilng IB necessory to enablg the pr8paratlon of financlal statements that are free from mgterlal ml$statement, whèthèr dué to fraud ar rmr. In preparing tha financial 8tstsm6nl8. the TNstee8 are rn8pon81bl6 for assesslng the charMy'8 ablllty lo contlnue a8 a golng conc8m, dlsd08ing, as appllcable, matters relatod to g0Sng Mncem and uslng the golng concom bo&ls of 8¢counilng unless the Twstees either Intend to Ilquldate the charltable Company or to cea8 operatlons, or have no reoll$tlc •llomatlve but to do 80. Audltof• r•spon•lbllltlM for th• iudlt Of th• Ilnan¢W •tat•m•nt• Our obl8ctlv85 aro to obtaln reasonable assurance about whgther the financlal stat8m8nts as a wholg are free frorn malerfal mlsslatemenl, whether duè lo fraud or error, and to Issue an audltoffs report that Includes our oplnlon. Reasonablg a$5UT8nc8 Is a hlgh 18v81 of assurance but 1$ not a guarantee that an audli conducted In aGcordance wllh ISA8 {UK) wlll always detect a materlal rn18sIAl6ment when It exlsts. Ml88tatsmgnts can artse from fraud or error aThJ arn consldered malerlal ff, Indlvidualty or In the aggregate. Ihey CL)uld reasonably bo expected to Influonce tho èconomlc declsbn8 of users taken on the basls of Ihe8e financlal statemants. Th6 exient to whlth our procedureg are ¢ap8bl8 of détéctlng Irrogularltles, Includlng fraud. 1$ delalled below. CITIZENS ADVICE CENTRAL NOTllNGHAMSHIRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CITIZENS ADVICE CENTRAL NOTtINGHAMSHIRE The extent to which audit was ¢on8idored capable of detectlng irregularftles Including fraud Our approath to Identrfying and assessing the risk of material mtsstatement in resped of irregularitie5. i￿ludIng fraud and ronrycompltan¢e wfth Igwg and regulations. was as follows: The eng8gèmont partner ensured that th8 engagement team eollecllvely had the approprfate competence. capabilties and skllls to identify or re¢ognlse Donncomplianc8 with appll¢able laws and regulallons: We identified the laws and regulalions applkable to the group through d19￿$$10n$ wth trustees and other managernen( and from our knowledge and experfon¢8 of the charlty sector and grant provlders: We focused on sp8¢lfic laws and regulations we ￿nsidered may have a direct rnateri81 effect on Ihe financial ststement8 or the operatEons of the Charlty, Inctuding the Companies Act 2006, Chariti88 Act 2011, iaxallon legis18tion and dats prot•clion. antiwbribery. employment. environmental and health and 8af8ty leglslatlon., W8 asses$8d th8 extènt of compliance wlth ts laws and regulatlons Identlll8d abDve through maklng enqulrie$ of management and InspectlrvJ legal ￿rreSpOndenC•. and Identlffied laws arKI regulatlons were communicatsd wlthin the audlt team ffjguhrty and the loam rem8lned alert to In•t8ncos of non•compllan¢g tlvoughout lh8 8udil. We asse559d the su$c•ptiblllty ol Ihe charlty's financ[81 slalemonts to mat8Tlal mlsstat8ment. Includlng oblalnlng an underyJiandlng of how fraud mlght oc￿r. ty.. Mthlng enqulrfes of managerr•nl as to ￿ere they consldered there was susceptiblllty to fraud, thglr knowlèdge of actual. susp8Ct8d and alleged fraud. Considering the inlemal controls in place to mllSgat• r18k8 of fraud and nonn Nmber 03618859 IEngland and Wales) 14- CITIZENS ADVICE CENTRAL NOTTINGHAMSHIRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 N¢>tes Ca8h flow8 from oporatlng a¢tlvltie$ Cash generated froml(ab8orbed by) operations 21 740,137 (30,956) Inv08tlng actlvltl88 Purchafje of tangiblg fixed assets Investment Income re¢elved 149,5S6) 5,006 (1,994) 1,529 Nèt cash u8ed In Inv8gllng actlvltl•8 (44,550) (465) Net ea•h u$•d In flnanclng actlvlilo• Not Increa8el(de¢rgaBel In ¢08h and ca8h •qulvalont• 695,587 131.421) Cash end cash equlv8lent8 at b•glnnlng of year 363,170 394,591 Ca•h and ¢a•h •qulv•l•nts at end of y•ar 1.058,757 363.170 CITIZENS ADVICE CENTRAL NornNGHAMSHIRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢countlng policl•s Charlty Inforni￿10ft Citizens Advice Central Nottlnghamshlre Is 8 private ¢ompany lknltsd by guarantee Incorporated In England and W81es, The reglstered office 19 The LibTary And Inform8tlon Centrn, Eastrwood, Nottlnghamshire, NG16 3GB. 1.1 A¢¢ounting eonv•ntlon The financi81 stalem8nts have been prepared in accordance with the chorivs governirwJ document, the Companies Art 2006. FRS 102 Yhe FinanGial Reporting Standard applicable in the UK and Republlc of Ir818nd' {"FRS 102") and the CharftSas SORP 'Accounting and Reporting by Charilies: Slalemont of Recommended Practice applicable to charities preparing their accounts in accordance with th8 Financial Reportlng Stsndard applicablé kn thè UK and Republic of Ireland (FRS 102}. (effeclNe 1 January 20191. Tha charlly Is a Publlc Benellt Enllty as defined by FRS 102. The fflnancl81 statements are prep8red In sterllng, whlch 18 the fundonol ¢urrnncy of the charfty. Monotsry amounts In these fln8ncl81 statements are rounded to the nèarèst £. The Iln8nclal statements have been prepared under the h16torlcal ¢o$t convenuon. Tha prfnclpal accountlng pollcles adopted are set out bglow. 12 Golng ¢one•m At the time of approvlng the fonancial 8tatoments, th8 Trustee8 havè a re8sonable expectatlon that thg ¢harlty has adequ819 resour¢e$ lo continu8 In operallonal exlslence for the fcfeseeable future. Thu8 th8 Trustees Itlnve to 8dopt the golng GOn￿M basls of accounting In proparsng the financS8l $t8tements. 1.3 Charltabl• fund• Unrestrlctad fijnds are avallable for u88 at the dIscr0￿On of the TN$te88 In furth•rnnco of thelr charltable oblectlves. Restrlcted fund8 aro 8ul*Ct to spe¢lfic conditions ty donors or grantors a8 to how t￿Y may b6 used. Tho purpos•8 and uses of the restrlcted funds are set out In the notgs to lh8 Ilnandal 8tstgment8. Endowment funds are subJ•¢l to 8pedfic condltlons by donors that the capttal must be malntalned by the charlty. 1A Incomè Incornelg recognlsed when the chadty is legally entitled to il after any porfomiance fy)nditlon8 have been me( the amounts can b? mea$ur8d rellably, and It is probable thal Income wdl be recefved. Cash donalions 8rn recognlsed on receipt. Other donallons are recognlsed once thé charity has been notlned of Ihe donallon. unl8ss perfomance condltlon$ requlre deferral of the amount. InGome tsx re¢overable in reLgtion lo donallons received under Gift or de•Js of L￿venant Is recognised 8t tho Ilme of the donation. LegacleB aro rpwgnised on recelpt or otheThvise If the Charfty has been notffied of an Impendlng distrlbution, the amount 18 known. and re￿Ipl Is oxp8Cted. If the amount Is not kno￿, the lagacy 19 treated as contlnggnt a558t. 16- CITIZENS ADVICE CENTRAL NOThINGHAMSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ACc￿ntIng pollcle• (Conllnu•d) 1.6 Exp•ndltur• Expenditure is recognlsgd once thore Is a hgal or LxJnstructiv8 Obl￿atIOn lo transfer ¢conomhc bonofil to a third porty, it Is probablè th8t a transfer of economlG ben8ffts wlll be requlred In Sottlemenl. and the amount of the obligatlon can be measured rellably. Exp8ndSture is classlfied by actlvity. The costs of each activity are made up of the total of dir8cI c08ts and shared costs. includlng suppart costs Involved In undertaking each actlvlty. Dlrect C08ts attrlbutable to a 61￿Je acdvlty are allocolod directty to that acuvlty. Shared costs whlch L¥)nlributO to more than one actlvty and support Costs whlch are not attdbutable to a slngle actlvlty are apportiongd belweèn Ihosa actlvltles on a ba818 cori8lSt&nt with tho v$e of resou￿$. Central stsff costs are alloGatsd on the basls of time spent, and depredatlon charges are allocated on the portion oflhe a8$et'3 Use. 1.8 Tanglble fixèd ass•t• Tangiblè flxed ass&ts ar8 inlllally measured at Q)8t and gub8equantly measured at cast w valuatlon, net ol depreciatlon and any Impalrnwnt losse6. Dopredallon 1$ recognlsed so 88 to wrile off tho C08t or valuallon of 88$8181oss th8lr resldual value8 over thelr uselul1Sv8s on th8 follo￿ng baso$'. Leasehold Improvements Fixtur88 8nd fittlngs Comput•r8 Mcts vohides 10% stralghl Ilno bas18 15% reducing balance baslb 33.3% straighl line basls 20% $tr8ighl Iln8 ba818 The galn or1088 arl8lng on th• dispo881 of an asset 1$ deterrnlned as the drfference between tha $81è proeéeds and the carrylng valuè of th8 a8SOt. and18 recognised In the 8tstement of flnanctal acdvltlg8. 1.7 knp•lrni•nt of Ilx•d a•••ts At each réportlng ond dats, th• charmy rèvlaws the e4rryrfng arnounts of ItB tsngible 0$$ots to datermlne whother there 18 any Indlcatlon that those a$5ets hav• $uffer8d an impalrment1088. If any such Indlcatlon exlsts, th8 recoverable arnount of tha 8$8el Is estimated In wdar to detemine the extent of the Impalmient 1055 Ilf any). 1A Cash and cash •qulvalents Cash and cash equlvalents include c88h In hand, deposlis hekl at Gall wlth banks. other 8hort4emi Ilquld Investments wllh origlnal maturities of thr80 months or less, and bank overdrafts. Bank overdrafts aro 8hown wlthln borrowlngg In currant Ilabllltlo$. 1.9 Flnanclal In•trumonts The tharity h88 ele¢t8d to appty the provlsk)ns of Sectlon 11 '8asi¢ Finan¢ial In8trumeTbts' gnd Section 12 'Olher Financial Instrumonts Issues. of FRS 102 to all of its financial Instrumgnts. Fln8ncial instruments are recognl$8d Sn the charit￿8 balance sheet when the charity b8¢omes paty lo the contractual provisions of the InstNm&nt. Financial assels and Ilabllitles are offset. wSth the net arnounls presented in the financial statements. when there is a legally 8nfo￿9ab1e rfght to set off the recogni58d amounts and there is an inlenlion io settle on a net basis or lo realise the asset and the Ilabillty slmultsn8ously. 17- CITIZENS ADVICE CENTRAL NOThINGHAMSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng polici (Contlnu•d> B•sl¢ flnanclal ass•ts Baslc financ581 assets. whlth Include debtors and cash and bank balances, are Inlllalty measured at transaction price InGluding transa¢tlon costs and are subsequently canled at amortlsed cosl uslng the effectlv8 Interest method unless the arrangement ¢onstitule$ a fin8nc5ng transodion, whore the transaction Is measured at the prèsenl value of Ihe fulure recelpls discounted al a mthet rate of Intsrest. Flnan¢Sal a8sets la8sifted a8 recelvablé wlthln one year are not amortlsed. 84slG flnanclolllabllluos Baslc Iln8nclal118bllRl8s, Includkng credltors and bank loans are inilially recognlsed at transactlon prfce unless thè arrangement constitutes a ffinandng transactlon, where the debt Instrument Is measured at the pre$ent value of the future payments dlscounted a* a market rale of InlerasL Financial liabllmes Classlfièd as payable within one year are not amortl$ed. Debt Instruments are SUbsequ￿11Y ¢8rrfed at amort188d cosl, u8lng th8 effectlve intsr88t rate method. Trade credltors are obllgations to pay for goods or sorylces that h8v6 b88n aequlred In the ordlnary c¢ur80 of operations from 8upplSers. Amounts payable are classifiad as curront Ilabllitios il payment 1$ due withln one year or less. If not. they are presented 8s non-current liabllltles. Trade cr8ditOf8 are recognised Inttl8lly at tran8articm prlce and 3ub$equonOy measured 8t arno￿89d cost using the effgrllvo Intor6s1 mglhod. Dw•eognMlon ollln•ncl81 Il•bllltl•s Flnandal liabllttlo9 are d8recognl8od when Iha charlV8 contractual obllgatlons axplre or grg dlscharyed or cancelad. 1.10 Employ00 bgn•llts The cost of any unused holiday entillementls rewgnlsed In th9 perlod In vthlch thè employoe's s8rvlce8 are recelved, Twmlnatlon benefits arè racognlsed Immedl816ly as an expèns8 vthen the ch•lly18 demonstrably commStted to tsm)Inate the employment of an employeo or lo provlde teTmln8tion benefits. 1.11 Retlremont b?nellts The cost of provldlng benefft8 under dellned beneflt plans 1$ detemlned s•parately for 8ach plan uslrKJ th8 prolecled unil credlt melhod, and Is b8sed on actuarlal advice. Th8 change in the net deflned benefit liablllty arlsing f￿M employee 8grvSce durfng the year b ro¢0gn18ed as an employee Cost. The cogl of plan Introdu¢lion$, beneflt changes, settloments and Nirtallments are recognised as incurred. The net Interest element Is dat8mlned by multIpl￿ng th8 net defined benefit118blllty by the dlscount rato. taklng Into account any changes In the net d8firxd ber￿ffl liabillty during the perlod as a rosull of contributlon and ben8fit payments. Thè not Interest is recognlsed in Incomel(exp8fKliture> for the year. Rem&asurement changes comprise aGluarfal gains and losses, the effect of the 8Bget ceiling and the relum on the net deflned benefit Ilablllty èxdudlng amounts included In net interest. These are recognised Immedlately In other recognised g21ns and losses In the peric*J In which th8y occur and are not reclassifled to Incom81 (expendlture) In subsequent perlod$. Tha net defined benefil pen8lon 885et or liability in the balance Sheet comprlses the total for èach plan of the presenl valuo of the defined benefit obligation (using 8 discomt rate based on high quality Gorporale bonds). lass the fair value of plan assets out of which the oblbattons are to be settled dir6dly. Fair value is based on market price Informalion. and In the case of quoted Securities Is the published bid price. The value of a net penslon benefft asset Is Ilmfted to the amount that may be r8covered eilher through redu¢ed contrlbuilons or agrg8d refunds from the scheme. 18. CITIZENS ADVICE CENTRAL NO￿INGHAMSH1RE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Crlllcal accounting •stim•t•i and Judgeménts In Ihe appllcauon of the chadty's accountlng polides, the Tru8ts88 are requlréd to maké Judgements. estrmates and assumpts'ons about the Garrylng amount of assets and liabilities that are not ￿adity apparent from other sources. The estlmatss and associaled assumptions are based on historlcal experi8nc8 and other factors that ar8 considered to be relevant. Actual Rsults may dlffèr from these esdmale$. The e8lmates and underlying assumpllons are MMaw8d on an ongolng basls. Revlslons to acrx)unting e8tlmat88 are recognl$ed In the perfod In which the è$timale 18 rnvlséd where th8 revision affects 01￿Y that perlod. or In th8 pèrlod of the rnvlslon and future perfods where thg rgvi8ion affects both Currènt and future perfods. -19- CITIZENS ADVICE CENTRAL NorriNGHAMSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Incomo from charftabl• actlvltl•8 Unr•8trlct•d Rutrfct•d fund• funds 2024 2024 Total UnrMtrlctsd Ro•trl¢t¢d funds tund$ 2023 2023 T•)tal 2024 2023 ChaTltabl• a￿vIll F88s othar Incoma 39 37.048 30,989 31.028 37.046 22,214 22,214 22,214 22,214 37.085 30,989 68.074 kncom• from Inv•itm•nt• Unr••trlct•d Unro6trl¢t•d funds fund8 2024 2023 Int8ro8t r8C8lvabl8 5,006 -21- CITIZENS ADVICE CENTRAL NorriNGHAMSHIRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expondfturè on charftsbl• a¢tlvltl Charitablfy Charltsbl• actlvittès a¢tlvltlès 2024 2023 Dlre¢t ¢o•t• Staff Cost8 Depreciation and Impalnnent Staff tralnlng Volunteer expenses & Iralnlng Tr8vel & sub&lsterKe Disbursem8nts Communicationi Accountanoy fees I con8ult8ncy charges Legal & profe8$lonal fees Subscription8 Insuranc8 IT equipment & 8UPPOrt Office equlprmnt Prfntlng, postaoe & Slatlonery Prem18es expen88s Bank charges Mlscellaneous oxpgn8e• othgr char￿able ?xp8nditur8 854,601 6,445 1,376 6,892 3.438 7,142 8,945 14,420 18.030 10,126 3.645 16.697 1.561 5.837 32,948 177 101 8,259 451.396 4.894 4.872 1535 1,687 3,253 7.613 15,717 4.823 7.154 1.878 8.013 165 5,241 13,680 235 965 20,922 1,000,640 555,043 Sharg of support and g0vornan￿ ¢o$ts {$00 nots 7) 11,400 1,950 1,012,040 556,993 Analysls by fund Unrestrlcted funds - genero1 Unrestrlctéd fund8- penslon Rgstrlctod fund$ 184,184 207,000 620,856 174,785 26,000 356,228 1.012,040 556.993 Support costs allocalod to actlvllles Charltabl• actfvltl8s 2024 Total 2023 Govemance 11.4C 1,950 -22- CITIZENS ADVICE CENTRAL NOThINGHAMSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net mov¢fflent In funds 2024 2023 The net ￿K)VemOnt In funds Is stated after Gharglngl(Nedlting): Fees payable to the charity's audltor.. - for th& audlt of the charivs financial statements - for othèr flnanclal servicés Dèpr•clailon of o￿nad tanglbla flxed assets 9,300 2,100 3.575 4.894 None of the Tru8l•e8 lor qny p•raon8 connected wlth them) receSved any remuneratlon or bgnefflts from the charlty durfng the year. 10 Employ••• The avwago monthly number ol emph)y068 during th• year wa8: 2024 Numb•r 2023 Numb•r 31 Employment ¢ost• 2024 2023 Wages and salad0$ Other penslon costs 647.601 207.000 425.396 26,000 854,601 451.396 There wer• no 8mployees whose annual reM￿e￿tIofft was ffrfjre than £80,000. R•munaratlon of k¢y managomont pèrsonnol The remun8ratlon of key manogement personnel was 88 foll￿. 2024 2023 Aggregate conwnsalbn 73,878 47,455 11 T￿tIon The ¢h8rity Is exempt from taxallon on ItB actlvltles be¢auso al Its income Is applied for Charitable purposes. %8 c2 CITIZENS ADVICE CENTRAL NOThINGHAMSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 D•btors 2024 2023 Amount8 falllng du¢ wlthln ono y•ar: Trade debtors Accrued income Prèpayments 80.934 26,554 2,056 18,541 119,544 18,999 14 Cr•dltorn: amounts falllng du• wllhln y•ar 2024 2023 Olher taxation and 80cI8188curlty other credttors A¢¢Nals 19,287 13,544 30,878 6,295 15.899 6,663 63.709 28,857 15 R•tir•m•nt b•n•fft •¢h•m Dofinod bonollt •chem•* The chwlty part6Glpat8s In Nottlngham8hlr8 County Goun¢ll P6nslon Fund, a multl4mployar defined benefll final salary 8themo. The 8theme Ss admlnl$teffjd tor the benefit of Looal Authortty empkJyee8 and othèr bodl68 and Is managed in pccordance wlth thg Local Government Pensfon Schome Regulatlons. The adrnlnlsterlng aulhorfty the Fund li Nottlnghamshite County Counc51. The most recgnl compr8henslve rolled on actuartal valuatlon report was carrled out on 31 March 2024 by BaThtt Waddingham. Amounts recognlsod In the profit and1088 account: 2024 2023 CUrr￿t 8ervl¢e cost Net Intwest on dofined benefft Ilabiltyl(a95et) Restriction on net inlerest Income crédlted to th6 Income slatsmont 14,000 (123,000) 128,000 16,000 35,000 125.000) Total costs 19.000 26.000 CITIZENS ADVICE CENTRAL NorriNGHAMSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Retlr•mgnt bonefit 8ch•m•8 (Contlnued) Amounts taken to other compreh8n$ive inwme: 2024 2023 Actu81 retum on scheme assets Le85: cal¢ulalod interest elemont (177.000) 177,000 (27,000) (11,QOO) Retum on schem assets excludlng intsresl Incon Restrlcuon on net Interest Incomè credlted to the Incom8 8tstement Actuarlal changes relatad to obllgalions (38,000) 25,000 <310,000) (128.000) I65,0￿> Total costsl(Incomg) {193,000) {323,000) The amounts In¢ludod In the balanco 8heet arfslng from the charfws obllgatlon$ in re8PeCt of defflned ￿nefft plan8 arn as foPIow8: 2024 2023 Present Yalue of defin8d benèftt obllgation8 Falr value of p18n a$$ets 2,729.000 (2.662.000) 825.000 (572,0(Kl) Deflclt In sch8m8 67.000 53,000 Movemen1$ In the pre8ent value of defined benefit obllgatlons.. 2024 Llablmtles at 1 Aprll 2023 Llabllltles assumed in a buslneB$ oomblnallon Cutrent servlce cost Benefit8 pald Conlr5butlons from scheme m8mbers Actuarial galn8 and Ics8es Interest Cogt 625.000 2,132.000 14.000 (35,000> (65,C￿) 54,000 At 31 March 2024 2,729,000 The defined bengflt obllgaliorbs arfse from plans vthich are wholly or partly funded. -26- CITIZENS ADVICE CENTRAL NOThINGHAMSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 PaARCH 2024 15 R•liMm•nt ￿neffi 8¢hom {Contlnued Movements in tho falr valuo of plan a88el8: 2024 F8Tr1 value ol ass8ts at 1 Aprtl 2023 Assets assumed in a Imjsiness combinatSon Intorest Income Benèfits pald Contrfoutlons by the 8mploy8r Contrlbutlons by $d*me members 572.(100 1,930.000 177.000 (35,000) 14.000 4,000 At 31 March 2024 2.682.000 The actual retum on plan a$&ots was £49.000 (2023- £52.000). The falr value d plan a880ts at the reporllng perfod end was a8 follows,, 2024 2023 Fund assot8 2,662,000 572,000 -27- (ONO (N rfj (Fi a) f¢ v (D oo ¢J) r In C•1 O 0 ¢rJ C+ to ea ￿ ¢D Lu￿rIz<< 0 2 o¥ SÉ(90 8 41 Invi r ci 0> O v **t tt?WLL o£zwo&>£" CITIZENS ADVICE CENTRAL NOTllNGHAMSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Analysls of n•t agaèts béts¥••n funds Unr•strlcted Unr•slrfcted funds funds general penslon 2024 2024 R•strl¢tod funds Total 2024 2024 At 31 March 2024.. Tan9ibl6 assets Current assetsl(liabllRles) Provisions and pensions 57,177 979,531 57,177 1,114,592 {87,OCQ) 135.061 {67.000) 1,036,708 {67,000) 135.061 1,104.769 Unr•8lrlct•d Unr•8lrlct•d fund• funds g•noral p•nslon 2023 2023 R•slrlcl¢d funds Tol•l 2023 2023 At 31 March 2023: Tangibl8 assets Current assetsl(Ilabllltlos) Provlslons and penslon8 14,066 275,907 14,066 353,312 (53.000) 77,405 {53,000) 289,9n (53.000) 77,405 314.378 18 R•lat•d party tr•nsaetlon• Th•re were no dlsclo88blo related party transacllons durfw th• year (2023 - none). 19 Charlty Mergèr On 1 JaThJ8ry 2024, Iho assets and 8Ctlvilles of Cltlzens Advlce Ashflekl 8Lnd Cltlz8ns Advlce Sharwood and Newark were merged Into th9 charity. The net assets am(￿nted to £765,771 and has bèen presented In Income from donations and leg8Cigs (note 3). 20 Anatysls of ¢hangos In n•t fund• The ¢harty had no mat8rlal debt durlng the year, CITIZENS ADVICE CENTRAL NorriNGHAMSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 C06h ynerat•d from operntlons 2024 2023 Surplus for tho year 597,391 19,922 ustments for. Investment Income recognlsed In ¥tatemont of fflnan¢l818CtiviUes Deprocla￿on and Impairwent of tsngibl8 ftxad a$8éts Dlff8rerrA belwe•n pnslon ¢hary¢ and cash contrlbutio (5,006) 6.445 207.000 (1.529) 4.894 Movomonts In worklng capital: {Incre88e) in debtors Increase In crediior¥ (100,545) 34,852 {18,999) 28.857 Ca•h yn•rat•d from aperatlon• 740,137 59,145 31-