Company number: 03324794 Charlty Number: 1082193 East End Citizens Advice Bureaux (A company limited by guarantee) Report and financial statements For the year ended 31 March 2025 East End Cltlzens Advlce Bureaux Content5 For the year ended 31 March 2025 Reference and administrative information Trustees, annual report Independent audltor's report Statement of flrtancial activities (incorporating an income and expend iture account) .25 Balance Sheet .26 Statement of cash flows ..........,..................................................................................................... 27 Notes to the flnancial statement5 .28 East End Cltizens Advlce Bureaux Reference and admln15tratlve Informatlon For the year ended 31 March 2025 Company number 03324794 Charlty number 1082193 Reglstered offlce and operatlonal addre55 300 Mare Street London E81HE Country of registratlon England & Wales Country of Incorporation Unlted Klngdom Trustees Trustees, who are also dlrertors under company law, who served during the year and up to the date of this report were a5 follows.. Chalr Joint Vlce Chalrs Mudda55ar Ahmed Jennifer Chung Matthew Downer (resigned as Vice Chair and Trustee 2 December 2024) Lucy Freeman Parker (appointed as Vice Chair 5 December 2024) John Bolitho (appointed 5 December 2024) Meena Chavda (appointed 20 March 2025) Pau l Everitt Denise Halton Stephanie Kleynhans (resigned 20 March 2025) James Peter5 David Ross JP Nicholas Smith Sharmin Takln Zoe Wilkins Councillor Penelope Wrout (Hackney) Ireslgned 12 June 2024) Secretary Yasmin Alam East End Cltlzens Advlce Bureaux Reference and admlnlstratlve Informatlon For the year ended 31 March 2025 Key management personnel Yasmin Alam Rashld Seedat Andrew Sklpper Chief Executive Project manager Tralnlng and development manager (retired 30 Aprll 2024) IT manager Finance manager Miles Metcalfe Louise Skinner Bankers 8arclays Bank plc The Holloway & Kingsland Group PO Box 3628 London E8 2JX Audltor RPG Crouch Chapman LLP Chartered Accountants and Statutory Auditor 40 Gracechurch Street LONDON EC3V OBT East End Cltlzens Advice Bureaux Trustees. annual report For the year ended 31 March 2025 The trustees (who are a150 directors of the charitable cornpany for the purpose5 of the Companies Act) present their report and the audlted flnanclal statements for the year ended 31 March 2025. Reference and administrative information set out on pages l and 2 forms part of this report. The flnancial statements comply with current statutory requlrements, the memorandum and articles of association and the Statement of Recommended Prattice - Accounting and Reporting by Charltles: SORP applicable to charities preparing their account5 in accordance with FR5 102 (effective I January 201 9). Since the cornpany qualifie5 as small under section 383. the strategic report required of medium and large companies under the Companies Att 20061Strategic Report and Directors. Report Regulations 2013) is not needed. Our vision, aims, objective5. and activities Wision and aims Our vlslon is to provide high quality. holistic advlce and information services to empower and enable the resident5 of Hackney, Newham and Tower Hamlets to improve their wellbeing. We provide free, independent. confldentlal and Impartlal advlce to everyone on thelr rlghts and responsibilities. It values dlverslty, promotes equality and challenges discrlmlnatlon. The service aims: To provide the advlce people need for the problems they face. To improve the pollcies and practices that affect people's Ilves. Objectives and publlc benefit The objectives for which the charitable company. East End Citizens Advice Bureaux (EECA8x), also known as Citizen5 Advice East End. was established as defined in the Memorandum and Articles of Association, are 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 Greater London and surrounding areas. The charlty's principal activity is the provision of information, advice and advocacy 5ervice5 Wlthin the London Boroughs of Hackney, Newham. and Tower Hamlet5. East End Citizens Advice Bureaux works together wlth local and natlonal partners to provlde accesslble, high quality and holistic advice and information services, advocacy, and training to empower and enable our communities. Our clients, experiences guide us to try and influence policy at a local and national level. East End Cltlzens Advlce Bureaux Trustees, annual report For the year ended 31 March 2025 The trustees review the aims, objectlves, and activltles of the charlty each year. Thls report looks at what the charity ha5 achieved and the outcomes of its work in the reporting perlod. The trustees report the success of each key activity and the benefit5 the charity has brought to those groups of people that it Is set up to help. The revlew also helps the trustees to ensure that the charlty's alms, objectives, and activities remained focused on its stated purposes. The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activitie5 will contribute to the aims and objectives that have been set. Overview of activities The charity's main activities and who it tries to help are described below. All its charitable activities focus on providing advice and information to clients and are undertaken to further East End Citizens Advice Bureaux charitable purp05e5 for the public benefit. We provide free, confidential, and impartial services acce55ible to all. We help with problems involving welfare benefits, housing, debt, money management, employrnent, irnmigration, consumer and family and personal Issues. Our cllents are from some of the poorest and most deprived parts of the populatlon. Actlvltles and performance In 202412025, we helped 9.32 5 clients wlth over 34,205 Issues vla 31 ,998 client activities. We generated a total amount of £17,547,925 income for our clients, £2,336,208 debts wrltten off and £1.887.032 moved onto more manageable plans. We also helped clients with £460,978 of reimbursements. services or loans which benefit cllents flnancially but were not an additional income (for e.g. health and social care charges reduced, School uniform paid for etc). Our advice interventions resulted in a further value of £2,214,744 of non-financial outcornes for our clients. These figures also include our work in boroughs outside of Hackney, Newharn and Tower Hamlets due to our specialist debt projert working with London & Quadrant Housing Association. We were able to achieve our objectives and the above outcomes by delivering service5 remotely. via telephone, face to face at our offices and various outreach locations in all 3 boroughs. We have prioritised increasing pathways to advice services through increased partnership working in all three boroughs i.e. schools. housing associations etc and introduced home visit appointments for the elderly and vulnerable in our community. We a150 ensure that our research and campaign activities, feed into shaping services and projects, to continue maintaining our high-quality 5ervlces and reputatlon. In comparlson to the previous financial year {202312024) we noticed some key changes- Helped 14.6% less clients but advised on 7% more issues overall Client activitie5 increased by almost l % East End Cltlzens Advlce Bureaux Trustees, annual report For the year ended 31 Marth 2025 Increased household Incomes for cllents by almost 20% Non-flnancial outcomes decreased by 17% • Supported debts being written off by over 80% Moved 53% more debts onto manageable repayment plans Increased financlal benefits for clients in the form of relmbursements. servlces or loans by over 105% Despite facing ongoing service capacity constraints and increased client demand because of the current financial pressures and governments welfare reform our data emphasi5es our focus being our clients and their financial and non-financial wellbeing. Although less client5 were hel ped, we dealt with more issues suggesting that clients are accessing our services with more complex issues which take additional time to resolve. Our data shows that 90% of our work involved complex casework. further highlighting client need from our service and the shift away from giving simple advice and information or signposting. Se￿Ice delivery In addition to the values In the tables below for each offlce. we provlded 4 energy vouchers with a financial value of £196 and I I food vouchers wlth a flnanclal value of £1 .485 from funding which covered all our boroughs. Hackney We have been unable to open our Hackney office fully due to problems wlth the bulldlng whlch are outslde our control. We provided face-to-face services via the London Borough of Hackney Service Centre three days per week so that we could reach clients who prefer face to face advice or who are digitally excluded. In addltion. we provided energy and food vouchers, and charity grants to help clients buy furniture and white good5. The number of clients seen, issues raised. income gains, energy and food vouchers provided, charity grants obtained. and debts written off are shown below and on the following page: Hackney Clients seen Client Cases Number of enquiries Increase in income Debt written off Debt moved to payment plans Other flnanciallnon-financial outcomes Energy vouchers - number5 Energy vouchers - value £ 2025 2.338 3.208 11.033 5.533.584 899.656 689.300 689,187 2024 4,020 4825 16,518 5.843.685 858.977 146.210 862,456 297 12.519 584 25,954 East End Cltlzens Advlce Bureaux Trustees, annual report For the year ended 31 March 2025 Hackney , the balance has been deferred to 2025126. London Borough of Hackney extended our core contract for another three years from l April 2023 at an Increased rate of £260,000 per annum plus £16,500 per annum for our work In health settings. The 202412 5 funding for health settings included £ l ,500 extra for 2023124. This funding wa5 matched by £6,000 from Homerton Hospital. (see note 7>. However, London Borough of Hackney have now Indlcated that they wlsh to terminate the core contract on 31 October 2025 due to their own financlal constralnts. We will then have to reapply for more fundlng from a pot reduced by one third. London 8orough of Tower Hamlets extended our fundlng worklng In partnershlp wlth other advice agencies in Tower Hamlets for a further three years and flve months from l November 2023 to 31 March 2027 but at a reduced level of £720,000, previously £924,102, an actual reductlon of 22%. The 2025 financial statements include twelve months of grant at the lower level. The 2024 financial statements include seven months of grant at the hlgher level of £924,102 which is £539,060 and five months at the lower level of £720,000 whlch Is £300.000, a total of £839,060 for the financlal year. In note 7 the grant is split between £681,000 advice grant and £39,000 for the management of the contract (£800,060 for service delivery and £39,000 for the management of the contrart in 2023124). The charlty acc-rued In-full the deflcit reduction payments-in respect of the NACAB defined benefit penslon scheme of whlch East End CAB (Citizens Advice Bureau) is a member In 2016. Deficlt reductlon contributions of £22,800 were payable annually from 2011 for 20 years. The triennlal valuation on 31 March 2019 revealed a further increase in the deficit of £129,728 using a discount rate of 2% and we were required to Increase our contrlbutlons by 25% to £28,500 per annum and to make further contributions untll March 2037. The actuarles updated the discount rate in 2023 to 4.8% which reduced the deficit by £45,558 in 2022123. The actuaries updated the discount rate again in 2023124 to 4.9% but increased the payments required by another three and a half years which resulted in an increase to the deficlt in 2023124 of £48,272. The actuaries updated the discount rate further to 5.8% in 2024125 whlch has reduced the deficit by £23.494. Further details are glven In note 2 5 on pages 50 and 51 . Prlncipal risks and uncertainties The Trustees have assessed the principal risks to which East End CAB Is exposed and are satlsfied that systems are In place to mltlgate our exposure to them. The Trustees recognlse the potentlal flnancial risks on some of the bureaux services that are dependent on a single major funder. East End CAB is actively seeking to address the dependency by securing additional funding sources to support those ser4lces. We wlll endeavour to achieve this whilst provSding the hlghest possible level of servlce to both our cllents and funders. The Trustees formally review risk on an annual basis and at regular interva15 throughout the year East End Cltlzens Advice Bureaux Trustees, annual report For the year ended 31 March 2025 across the following areas and dld so durlng the year under review under the followlng maln headlngs: Compliance Flnance Governance External developments and relationshlps. We have a busine55 continuity plan that manages all the identified organlsatlonal rlsks and is reviewed on a regular basis. Reserves pollcy and going concern The trustee5 believe that East End Citizen5 Advlce Bureaux should hold unrestricted reserve5 to ensure that the charlty can continue to operate and meet the needs of it5 client5 in the event of unforeseen clrcumstance5. Given the vulnerability of many of our cllents, our long-term ambition 15 to set aslde sufficient liquid reserves to continue delivering essentlal servlces in the face of fundlng shortfa115, cash flow Issues, and numerous other setbacks which mig ht befall the organisation. However, our Immediate focus is to contlnue to deliver our rnuch-needed core ser¥lces whllst bulldlng our essential reseNes, particularly those necessary to cover the cost of an orderly winding up of East End Citizens Advlce Bureaux. The current reserves policy comprises: Sufficlent cash reserves to cover the cost of an orderly wlndlng up of East End Cltlzens Advlce Bureaux. During 202412025, based on organisation headcount and employees, length of servlce, and including redundancy c05t5 plus notlce pay- £520,098. In addition to thls we would have to give a mlnlmal notice period on our premises and equipment malntenance contracts. These costs might cost a further £1 0,000. In note 19, the analysls of net a55ets between funds, the charity'5 f ree reserves, the unrestrlcted funds less the unrestricted flxed assets of £1 ,303 are £574,138. The total unrestricted fund5 of £877,802 include a £302.361 pension deficit, whlch Is negatlve as it represent5 the d iscounted total liability arlslng from the need to make payments of £28,500 per annum from Aprll 2021 until September 2040. The trustee5 are confldent that, on current projections, the charlty wlll be able to contlnue to fund this obllgatlon out of cash reserves for the foreseeable future. The general unrestrlcted reserve5 are a posltlve £5 75,441 which shows total un restricted reserves less the pension deficlt Is sllghtly more than the Trustees, reserve5 policy. After maklng appropriate enqulrles and after careful conslderatlon of the charlty's reserve position labove) and after cash flows and commitment5, the trustees have a reasonable expectation that the charitable com pany has adequate resources to contlnue in operational existence for the East End Cltlzens Advlce Bureaux Trustees, annual report For the year ended 31 March 2025 foreseeable future. For thls reason, they contlnue to adopt the going concern basis in preparing the flnanclal statements. Further details regarding the adoption of the golng concern basis can be found Sn the Accounting Policies. Principal fundlng sources are shown In notes 3 and 4. Further detalls of grants receivable are given in note 7. Structure, governance, management, and related parties Constitution East End Citizens Advice Bureaux. which also operates under the name of Citizens Advice East End. was formally created on l April 2004 following the merger of Hackney CAB. Newham CAB and Tower Hamlet5 CAB. It is a company limited by a guarantee and 15 a registered charity. As part of the merger. Hackney CAB. a company limited by guarantee. changed its name to become East End Cltlzens Advlce Bureaux. Newham CAB and Tower Hamlets CAB, both cornpanies limited by guarantee, became dormant and were subsequently di5501ved. On 30 November 2013, the charlty adopted a new Memorandum and Articles of A550ciation whlch was agreed by the Charity Commlsslon and reglstered with Companies House. The company is governed by its Memorandum and Articles of Association and reglstered under the number 03324794. The company is registered as a charity under number 1082193. In the event of the company being wound up members are required to contribute an amount not exceeding £1. The total number of such guarantees on 31 March 2025 was 16 (2024: 14). The Trustees are members of the charlty, but thls entitles them only to votlng rlghts. There are currently no members outside the Trustee body. The Trustees have no beneficial interest in the charity. Governance The management of the charitable company is the responsibility of the Trustees who are elected and co-opted under the term5 of its Articles of Association. Trustees are selected and recruited using a standard selection and recruitment process following a ski115 audit of the exiting Trustees. At the time of appointment or co-option of a new Trustee. a skills analysis is undertaken, and a tailored induction and training programme is put in place. Management The charity is governed by a Board of Trustees who normally meet quarterly. A Human Resource5 and Flnance Sub-commlttee, also meets quarterly and exists to further oversee the charity's flnanclal posltlon and declslon making. A Governance Sub-committee meets quarterly to oversee the governance of the charity. A Remuneration Sub-cornmittee also meets occaslonally to revlew East End Cltlzens Advlce Bureaux Trustees, annual report For the year ended 31 March 2025 implementation of the Trustees, remuneration policy. The Trustees have delegated the day-to- day management of the charlty to the Chlef Executlve who is also supported by a Senlor Management Team, conslstlng of a project manager who oversees the specialist services and tralnlng and development, IT and finance managers who support the whole organlsatlon. The three generalist service5 are run by two team leaders. Remuneration policy for key management personnel The trustees of the charity are Key Management Personnel and are not remunerated for thelr roles in thi5 capacity. Any expenses reclaimed from the charity are set out in note 9 to the account5. Other employed Key Management Personnel, who are the Senior Management Team (see note 9), recelve a base salary, which 15 benchmarked agalnst salarles In other London bureaux and natlonally, and which is fixed by the Trustees. In addltlon, there may be a percentage for annual cost of living expense whlch Is determined by the trustees before the year end. This is discretionary and the award of cost-of-living expense is very much dependent on the organlsatlon's financial condition. Any proposals for remuneratlon Increase for Key Management Personnel Is fonyarded to the Hurnan Resources and Flnance Sub Commlttee whlch conslsts of three tru5tee5. They wil I conslder the proposal and forward their recom mendation5 to the Trustee Board. The Trustee board take the final decision on salary increases for all Staff at their quarterly meetings. Related party relationships The charity Is a member of Citizens Advice, the operating name of the National Association of Citizens Advlce Bureaux. East End Citizens Advice Bureaux works closely and has contracts or servlce level agreement5 Wlth other statutory and voluntary organlsatlons, incl udl ng: London Borough of Hackney London Borough of Tower Hamlet5 Barts Health NHS Trust East London NHS Foundation Trust Greater London Authorlty The Learning Trust Statement of responsibilities of the trustees The trustees (who are also d irectors of East End Citizens Advice Bureaux for the purposes of company law) are respon sible for preparlng the trustees, annual report and the flnanclal statements in accordance with appllcable law and Unlted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law req uire5 the trustees to prepare flnanclal statements for each flnancial year. Under company law the tru 5tee5 must not approve the flnanclal statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming East End Cltlzens Advlce Bureaux Trustee5' annual report For the year ended 31 March 2025 resources and appllcatlon of resources, Including the income and expendlture, of the charitable company for that period. In preparing these financial statements. the Trustees are requlred to: Select sultable accountlng pollcles and then apply them consistently Observe the methods and principles in the Charitie5 SORP Make judgements and estimates that are reasonable and prudent State whether applicable UK Accounting Standards and statements of recommended practice have been followed. subject to any material departure5 disclosed and explained in the financial statements Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitsble company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Cornpanie5 Att 2006. They are a150 responsible for safeguarding the assets of the charltable company and hence for taking rea50nable 5tep5 for the prevention and detection of fraud and other irregularitie5. Disc105ure of information to auditors Each of the persons who are trustees, the directors of the charitable company, at the time when this Trustees, Report is approved has confirmed that.. As far as that director Is aware, there Is no relevant audlt Informatlon of whlch the charitable company's audltor is unaware. The director has taken all the steps that ought to have taken as a director in order to be aware of any relevant audit information and to establish that the auditor is aware of that information. In preparing this report. the trustees have taken advantage of the small companies. exemption5 provided by section 415A of the companies Act 2006. The Trustees. annual report has been approved by the trustees on 18 July 2025 and signed on their behalf on 18July 2 S by.. Muddassar Ahmed Chalr 20 Independent auditor's report To the members of East End Cltizens Advlce Bureaux Opinion We have audlted the financial statements of East End Cltlzens Advlce Bureaux (the 'charitable company,) for the year ended 31 March 2025 which comprlse the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparatlon Is appllcable law and UnSted Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financia/Reporting Standard applicable In the UK and Republic of Ireland(United Kingdom Generally Accepted Accounting Practice). In our oplnion, the financial statement5: Give a true and fair view of the State of the charitable company's affalrs as at 31 March 2025 and of its incoming resources and appllcation of resources Have been properly prepared In accordance wlth Unlted Kingdom Generally Accepted Accountlng Practlce Have been prepared In accordance with the requirements of the Companles Act 2006 Basis for opinion We conducted our audlt In accordance wlth International Standards on Audltlng IUK) IISAS (UK)) and appllcable law. Our responsibilities under those standards are further descrlbed In the Auditor's responsibilitie5 for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audlt of the flnanclal statements in the UK, includlng the FRC'S Ethical Standard and we have fulfllled our other ethlcal responsibilities in accordance wlth these requlrements. We believe that the audit evidence we have obtained 15 sufficient and appropriate to provlde a basls for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the golng concem basis of accounting in the preparation of the financial statements 15 appropriate. Based on the work we have performed, we have not Identlfled any materlal uncertalnties relating to events or conditions that, indivldually or collectlvely, may cast slgnlflcant doubt on the charity's ability to contlnue as a going concern for a period of at least twelve months from when the financial statements are authorised for i55ue. Our responsibilities and the responsibilitles of the dlrectors with respett to 90ing concern are descrSbed In the relevant sectlons of thls report. In our evaluation of the trustees, conclusions, we considered the risks associated wlth the charlty's business model, including the effects arising from macro-economic uncertainties and analysed how those risks might affect the charlws flnanclal resources or abllity to continue operations over the period of twelve months from the date when the financlal statements are authorised for issue. In accordance with the above, we have nothing to report in these respects. However, as we cannot predict all future event5 or conditions and as 5ub5equent events may result in outcomes that are inconsistent with judgements that were reasonable at the tlme they were made, the absence of reference to a material uncertalnty In thls audltorfs report Is not a guarantee that the charity will continue In operatlon. 21 Independent audltor's report To the members of East End Citizens Advlce Bureaux Other information The other Information comprise5 the information included in the trustees. annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our oplnion on the financial statements does not cover the other Information and, except to the extent otherwise explicltly stated in our report, we do not express any form of assurance concluslon thereon. In connettion with our audlt of the flnanclal statements, our responsibllity is to read the other information and, in doing so, conslder whether the other information is materially inconsistent with the flnanclal statements, or our knowledge obtained in the audit or otherwise appears to be materlally mlsstated. If we identlfy such material incon5iStencies or apparent materlal mlsstatements, we are required to determine whether there is a material misstatement in the flnanclal statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of thls other information, we are required to report that fatt. We have nothing to report in this regard. Capability of the audit to detect irregularities including fraud We galned an understanding of the legal and regulatory framework applicable to the charity and the industry in which It operates, and considered the risk of acts by the charity which were contrary to applicable laws and regulations, including fraud. These included, but were not limited to, compllance wlth Companies Act 2006, the Charities Act 2011 and FRSI 02. We designed audit procedures to respond to the rlsk. recognlslng that the rlsk of not detecting a material misstatement due to fraud is higher than the rlsk of not detectlng one resultlng from error, as fraud may Involve deliberate concealment. We focused on laws and regulations that could give rlse to a materlal mlsstatement In the financlal statements. Our tests included, but were not Ilmlted to: agreement of the flnanclal statement disclosures to underlying supporting documentation,. enquiries of management. review of minutes of board meetings throughout the perlod. and obtaining an understandlng of the control environment in monitoring compliance with laws and regulations. There are Inherent limitation5 in the audit procedures described above and the further removed noncompliance with laws and regulatlons is from the events and transactions reflected in the financial statements, the less Ilkely we would become aware of it. We also addressed the risk of management overrSde of internal controls, including testing journals and evaluating whether there was evidence of blas by the directors that represented a risk of material misstatement due to fraud. 22 Independent audltor'5 report To the members of East End Cltlzens Advice Bureaux Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken In the course of the audit- The Informatlon given in the trustees. annual report, for the flnanclal year for which the financlal statements are prepared is consistent with the financlal statements The trustees, annual report, has been prepared In accordance with applicable legal requirements Matters on which we are required to report by exception In the light of the knowledge and understanding of the charltable company and its environment obtained in the course of the audit, we have not identified materlal misstaternents in the trustees, annual report. We have nothing to report In respect of the followlng matters in relation to which the Companies Act 2006 requires us to report to you if, In our oplnlon: Adequate and proper accounting records have not been kept, or returns adequate for our audlt have not been received from branches not visited by us., or The financial statements are not In agreement wlth the accounting records and returns. or Certain disclosures of trustees, remuneratlon speclfied by law are not made,. or We have not received all the information and explanations we requlre for our audit- or The trustees were not entitled to prepare the financial statements In accordance with the small companles, reglme and take advantage of the small companies, exemptions In preparing the trustees, annual report and from the requlrement to prepare a strateglc report. Responsibilities of trustees As explalned more fully In the statement of trustees. responsibilities set out In the trustees, annual report, the trustees (who are also the dlrectors of the charltable company for the purposes of company law) are responsible for the preparation of the financlal statements and for being satisfied that they give a true and fair view, and for such internal control as the trustee5 determine Is necessary to enable the preparatlon of flnancial statements that are free from materlal mlsstatement. whether due to fraud or error. Auditor's responsibilities for the audit of the financial statements Thls report Is made solely to the charltable companvs member5 as a body, in accordance with Chapter 3 of Part 16 of the Companles 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 auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responslblllty to anyone other than the charitable company and the charitable company's members as a body, for our audlt work, for this report, or for the oplnlons we have formed. Our objectlves are to obtaln reasonable assurance about whether the financlal statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 23 Independent audltor's report To the members of East End Cltlzens Advlce Bureaux auditor's report that Includes our oplnlon. Reasonable assurance is a hlgh level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material mlsstatement when it exists. Mi55tatements can arise from fraud or error and are considered materlal If, Indlvldually or In the aggregate, they could reasonably be expected to Influence the economlc declslons of users taken on the basis of these financial statements. A further description of our responsibilities for the audlt of the financial statement5 is located on the Financial Reporting Councll's webslte at: W_5￿￿[r Qi..g.ukl￿a ￿.11.(￿[￿7￿1b11￿Le￿.ThIS rs description forms part of our audltor's report. Jeremy Tyrrell BA (Hons) FCA (Senior statutory auditor) For and on behalf of RPG Crouch Chapman LLP Chartered Accountants Statutory Auditors 40 Gracechurch Street London EC3V OBT Date.. 2025 24 East End Cltlzens Advlce Bureaux Statement of flnanclal Ktlvltles Ilncorporatlng an Income and expendlture account) For the r ended 31 March 2025 2025 Total Unrestrlcted 2024 Total Unrestrltted Restrlcted Restrlcted Note Income from: Donatlons Charitable activitie5 Investments 5.701 308.372 21.038 23,600 1,823,867 29,301 2,132,239 21.038 7.927 314.174 7.813 37,680 1,742,804 45,607 2,056.978 7,813 Total Income 335.111 1,847,467 2.182,578 329.914 1,780,484 2.110,398 Expendlture on: Charltable actlvltles 306,893 1.761.320 2,068.213 249,272 1.893.078 2.142.350 Total expendlture 306.893 .761,320 2.068.213 249,272 1.893.078 2.142.350 Net Incomel(expendlture) before transfers 28,218 86,147 114,365 80.642 (112.594) (31,9521 Transfers between funds 20 (12,520) 12.520 136,5601 36.560 Net Incomel(expendlture) after transfers 1 5,698 98.667 114.365 44.082 {76.034) (31.952) Actuarial Ilo55es)Igain5 On deflned beneflt pension schemes 25 23,494 23.494 (48,272) 148.272) Net movement in funds 39,192 98,667 137,859 {4.190) (76,034) 180.224) Reconclllatlon of funds: Total funds brought fonvard 536,249 222.880 759.129 540.439 298,914 839.353 Total funds carrled foThvard 20 575.441 321.547 896,988 536.249 222.880 759,129 All of the above results are derlved from contlnulng actlvltles. There were no other recognlsed gains or105ses other than those stated al)ove. Movements in funds are dlsclosed In Note 20 to the financial statements. The notes on pages 28 to 51 form part of these flnanclal statements. 25 East End Cltlzens Advlce Bureaux Balance sheet Company no. 03324794 As at 31 March 2025 2025 2024 Note Flxed assets: Tangible assets Current assets". Debtors Cash at bank and in hand 1,691 872 220.047 1.305,328 141,592 1,253,659 .525.375 1,395,251 Llabllltles: Creditors= amounts falling due within one year (356.217) (333.011) Net current assets 1,169,158 1,062,240 Total assets les5 current Ilabllttles .170,849 1,063,112 Creditors: amounts falling due after one year (273,861) (303,983) Total net assets 896.988 759.129 The funds of the charity: Restrlcted income funds Unrestricted funds.. Designated fund5 General funds 321.547 222,880 (302,361) 877,802 (332.483) 868.732 Total unrestrlcted funds 575,441 536,249 Total charlty funds 896,988 759,129 The financial s beha atements were approved and authorised for issue by the Trustees on 18July 2025 and signed on their Mudda55ar Ahmed Chair The notes on pages 28 to 51 form part of these financial Statements. 26 East End Cltlzens Advlce Bureaux Statement of cash flows For he ar ended 31 March 2025 Note 2025 2024 Cash flows from operatlng actlvltles 21 Net cash provided by operating activities 31,933 3,053 Cash flows from Investlng actlvltles: Dlvidends, interest and rents from investments Purchase of fixed assets 21,038 (1,302) 7,813 Net cash (used In)Iprovlded by Investlng actlvltles 19,736 7,813 Change In cash and cash equlvalents In the year 51,669 10,866 Cash and cash equivalents at the beglnnlng of the year 1,253,659 1,242,793 Cash and cash equivalents at the end of the year 22 1,305,328 1.253,659 The notes on pages 28 to 51 form part of these financlal statements. 27 East End Cltlzens Advlce Bureaux Notes to the flnancial statements For the Year ended 31 March 2025 l Accountlng pollcles a) Statutory Informatlon East End Citizens Advice Bureaux is a charitable company limited by guarantee and is incorporated in England and Wales under the number 03324794. The charity registration number is 1082193. The registered office address is 300 Mare Street. London E8 1 HE. The nature of the charitrfs operations and principal activity is the provision of information. advice and advocacy Services Wlthin the London Boroughs of Hackney, Newham and Tower Hamlets. b) Basis of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities- Staternent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR5 102) (effective l January 2019) (Charities SORP FRS 102). the Financial Reporting standard appl icable in the UK and Republic of Ireland (FRS 102) (September 2015). the Charities Act 2011. the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 7 January 2019. The financlal statements are prepared on a going concern ba515 under the historical cost convention, modified to Include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound. The significant accounti ng policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otheThvise stated. c) Publlc benefit entity The charitable company meets the definition of a public benefit entity under FRS 102. d) Golng concern The financial statements have been prepared on a going concern basis as the Trustee5 believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for twelve months from authorising these financial Statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. The following judgement5 (apart from those involving estimates) have been made in the process of applying the accounting policies that have had the most significant effect on amounts recogni5ed in the financial statements: Useful economic lives of fixed assets for depreciation purposes Discount rate of 4.9% (2024 4.9%) for defined benefit multi-employer pension deficit reduction The trustee5 do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant ri sk of causing a material adjustment to the carrying amou nts of assets and liabilities within the next reporting period. e) Fund accountlng General fu nds are unrestricted fu nds which are available for use at the d i5cretion 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. 28 East End Cltlzens Advlce Bureaux Notes to the flnancial statements For the ear ended 31 Marth 2025 l Accountlng pollcles (contlnued) e) Fund accountlng {contlnued> Restricted funds are funds whlch are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fun is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income recognition All income 15 incl uded in the Statement of Financial Activitie5 (SOFA) when the charity i s legally entitled to the income after any performance condition5 have been met. the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fu Ily met or the fulfilment of those conditions 15 Wlthin the control of the charity and it is probable that they will be fulfi Iled. Donated facilities and donated professional services are recognised in income at their fair value when thelr economic benefit is probable, they can be measured reliably and the charity has control over the item. Falr value 15 determined on the basis of the value of the gift to the charity, for example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the Income will be received and the amount can be measured reliably. If entitlement Is not met then these amounts are deferred. Bank interest income is recognised on receipt. Government and local authority grants for the purchase of fixed assets are credited to restricted incoming resources when receivable. Depreciation on fixed assets purchased with such grants is charged against the restricted fund over the expected useful life of the asset if there are continuing restrictions. Grants of a revenue nature are credited to income in the period in which they are receivable. Grants received in advance for specified future periods are carried forward as deferred income. g) Expenditure recognltlon All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised when there 15 a legal or constructive obligation to make payments to third partie5, It is probable that the settlement will be required and the amount of the obligation can be measured reliably. It 15 categorised under the following headings.. Expenditure on charitable activities includes expenditure associated with general and 5pecialised advice Ser￿[ceS and Includes both the dlrect and support costs relatlng to these actlvltles,, and Other expenditure represents those items not falling into the category above. The charity does not currently incur costs on fundraising. Irrecoverable VAT is charged as an expense against the activity for which expendlture arose. 29 East End Cltlzens Advlce Bureaux Notes to the financial statements For the ar ended 31 March 2025 l Accounting policies (contlnued) h) Support costs allocatlon Support costs are those that asslst the work of the charity but do not dlrectly represent charitable activities and include office, governance and admlnlstration costs. They are incurred In support of expenditure on the object5 of the charity and Include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with use of the resources. Premises and other overheads have been allocated on the basis of time spent on activities. The analysis of these costs is included in note Se. l) Tanglble fixed assets Items of equipment and fixtures and fittings are capitalised where the purchase price exceeds £l.000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follow5- • Computer equlpment Fixtures and fittings Office equipment 33.33% straight line 20% straight line 14-20% straight line J) Employee beneflts When employees have rendered servlces to the charity, short-term employee benefits to which the employees are entitled are recognlsed at the undiscounted amount expected to be pald In exchange for that serrfice. The charity operates two defined contribution schemes for the benefit of its employee5. Contributions are expensed as they become payable. Both are funded schemes and the assets are held independently from the charity. One scheme is closed to new members, consisting of those members who had previously left the NACAB scheme below. The charity contributes 5.1 % of gross pay to the scheme and this charge is recognised in staff pension costs for the year. The other defined contribution scheme was set up as part of the charity's auto enrolment obligations and is open to all current staff members. The charity contributes 3% of gross pay to the scheme and this charge is recogni5ed in staff pension costs for the year. The charity is also a member of a multi-employer defined benefit pension scheme, sponsored by the National Association of Citizens Advice Bureaux ('NACAB'), which is now closed to new members. As a multi- employer scheme within the definition of FRSI 02, none of the assets or liabilities of the scheme are included on the charity'5 Balance Sheet as the individual proportions cannot be attributed to each participating employer. See note 25 for further details of the scheme. The charity had an obligation to pay deficit reduction contributions of £22.800 per annum from l April 2011 for twenty three years, increasing to £28,500 from l April 2021 for nineteen and a half years. The discounted net present value of this obligation is included within both current and non-current liabilities. An annual charge is made to expendlture to unwind the discounting, as Shown in note se under pension finance costs. 30 East End Cltlzens Advlce Bureaux Notes to the financial statements For the r ended 31 March 2025 l Accounting policies (continued) J) Employee beneflts The charity is also a member of The Pensions Trust series three multi-employer scheme which is considered to be a defined benefit pension scheme, which is now closed to new members. As a multi-employer scheme withi n the definition of FRS102, none of the assets or liabi lities of the scheme are included on the charity's Balance Sheet as the individual proportions cannot be attributed to each participating employer. The charity is not requlred to pay deficit reduction contributions. k) Taxation The charity is considered to pass the test set out in Paragraph I Schedule 6 Finance Act 2010 and meets the definition of a charitable company for UK corporation tax purposes. It does not Suffer tax on income or gains applied to charitable purposes. l) Debtors Short term debtors are measured at transaction price. less any impairment. Loans receivable are measured initially at fair value. net of transaction c05t5. and are measured Subsequently at amortised cost using the effective interest method, le55 any impairment. m) Cash and cash equlvalents Cash is represented by cash in hand and deposits With financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. n) Creditors Short term creditors are measured at transaction price. Other financial l iabi lities, Includi ng bank loans. are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. o) Leases Rentals payable and receivable under operating leases are charged to the SOFA on a straight Ilne basis over the period of the lease. p) Flnanclal in5trumentS The charity hold5 only basic fi nancial instruments. The financial assets and l labilities of the charity are shown in Note 24.. Financial a55ets Trade debtors, other debtors and grant income accrued are basic financial instruments and are debt instruments measured at amortised cost as detailed in note 15. Prepayments are not financial instrument5. Financial liabilities Trade cred itors. pension deficit liabilitie5. accrual s and other creditors are basic financial instruments, and are measured at amortised cost a5 detailed in notes 16 and 18. Taxation and social security are not included i n the financial instruments disc105u re. Deferred income is not deemed to be a financial liabillty, as the cash settlement has already taken place and there is an obllgatlon to deliver services rather than cash or another financial instrument. 31 East End Cftlzens Advlce Bureaux Notes to the flnanclal statements For the ar ended 31 March 2025 2 Crltlcal ac¢ountlng estlmates and areas of Judgment Estlmate5 and Judgments are continually evaluated and are based on historlcal experlence and other factors, Includlng expectations of future events that are believed to be reasonable under the clrcumstances. Crltlcal accountlng estlmates and assumptlons The charity makes estlmates and assumptlons concernlng the future. The resultlng accounting estlmates and assumptions will, by definition, seldom equal the actual results. The estimates and assumptlons that have a significant risk of causing a material adjustment to the carrying amounts of assets and Ilablllties within the next financlal year are dlscussed below. Crltlcal accountlng estlmates Accruals Estlmates are made for costs before Involces have been recelved. These estlmates are based on Involces subsequently received or experlence. Deferral of Income Where the tlmlng of grants doe5 not coincide with the accounting year, a proportion of the grant Is deferred and Included in income in the followlng year, Subject to the requ Irement5 of the Charity SORP FRSI 02 (effective l January 2019). support cost allocatlon These are costs incurred in Support of expendlture on the objects of the charlty, mainly an estlmated proportion of staff and volunteer tlme. Penslon deflclt East End Cltlzens Advlce Bureaux is a member of the National Association of Citizens Advlce Bureaux 1991 multl-employer, defined benefit, penslon scheme, whlch Is In deflclt. The liability Shown in these financlal statements is based on the actuarles estlmate of the payments whlch East End Citizens Advlce Bureaux is required to make, dlscounted uslng estlmated dlscount rates. Depreclatlon Provlslon Is made for depreciation based on the estlmated useful economlc lives of the asset concerned. 3 Income from donatlons 2025 Total 2024 Total Unrestrlcted Restrlcted Hackney Newham Tower Hamlets Central 200 200 11.033 1,600 32,974 23,400 23,400 5.701 5.701 5,701 23,600 29,301 45,607 32 East End Cltlzens Advlce Bureaux Notes to the flnanclal statements For the ear ended 31 March 2025 4a Income from charlfable actlvltles by bureau and Income type 2025 2024 Fees for servlces Grants Total Total Hackney Newham Tower Hamlet5 Central 618,317 396,548 809,254 250,354 13.613 44.153 868,671 410,161 853,407 764.867 357.468 933.857 786 1,824,119 308,120 2.132,239 2.056,978 Tower Harnlets acts as the lead partner In a grant consortla recelvlng cash and passlng it on to partner organisatlons. Grant Income Included In Income and expendlture is £509,931 (2024 £ 599,469). 4b Income from charltable actlvltles by bureau and fund Unrestritted 2025 Total 2024 Total Re5trlcted Hackney Newham Tower Hamlets Central 250,606 13,613 44,153 618,065 396,548 809,254 868,671 410,161 853,407 764,867 357,468 933,857 786 308,372 1,823.867 2,132,239 2,056,978 In 2024 of the total income from charltable actlvities £314,174 was unrestricted and £1.742,804 was restrlcted. The charlty ha5 one actlvity, provldlng advlce to those in need which Is free at the polnt of dellvery. 33 East End Cftlzens Advlce Bureaux Notes to the ftnanclal statements For the ar ended 31 March 2025 5a Charltable expendlture by expendlture type 2025 Total 2024 Total Staff costs Other Hackney Newham Tower Hamlets Ceniral 655,335 344,106 319,195 101,298 42,435 581,132 24,713 756,633 765,897 386,541 395.854 900.327 1,009,213 24.713 (28,614) 1.318.636 749.578 2,068.214 2,142.350 5b Charltable expendlture by bureau and dlrect attlvltles and support Costs 2025 Total 2024 Total Aalvltles Support Hackney Newham Tower Hamlets Central 628.322 326.283 823,084 24,713 128,311 60,258 77,243 756,633 765.897 386,541 395.854 900,327 1.009.213 24,713 (28.614) 1,802,402 265.812 2,068.214 2,142,350 sc Expendlture from charltable actlvltles by fund 2025 Total 2024 Total Unrestricted Restrlcted Hackney Newham Tower Hamlets Central 225.996 11.983 44.201 24.713 530,636 374,558 856,126 756,632 765,897 386,541 395,854 900,327 1,009,213 24,713 128,614) 306,893 1,761.320 2.068.213 2,142.350 In 2024. of the total expenditure £249.272 was unrestricted and £1 ,893,078 wa5 restricted. 34 East End Cltlzens Advlce Bureaux Notes to the ftnanclal statements For the ve￿. r ended 31 March. 2025 sd Dlrect costs 2025 2024 Tower Hamlets Central Hackney Newham Total Total Wages and salarles National insurance Penslon costs Redundancy costs Other staff c05tS Cxher direct CO515 Administration costs Premlses costs 496,828 49,875 9,748 267.968 25.658 4,082 231,848 22,960 4,851 996.644 98,493 18,681 900,505 90.125 18.169 2.943 11.878 633,955 136,414 82.830 3.895 10.002 79.831 121.857) ,717 5.257 7.725 13,876 2.471 517.105 12.430 31.419 8,083 532.364 99,986 48,151 24,713 24,713 628.322 326.283 823.084 1,802.402 1.876.819 se Support costs 2025 2024 Tower Hamlet5 Central Hackney Newham Total Total Wages and salarles Natlonal Insurance Penslon costs Other staff costs AdmlnlstratSon costs Penslon finance costs Governance costs - see note 6 84.557 9.786 1,314 6.625 7,564 10,579 39,673 4,592 617 3,151 3,550 4,974 50,909 5,892 791 4,054 4,526 6,319 175,139 20.270 2,722 13,830 15,640 21,872 186.032 18,362 2.665 11.303 17,453 13,717 7,886 3,701 4,752 16,339 15,999 128,311 60,258 77,243 265,812 265,531 6 Governance cost$ 202S Total 2024 Total Unrestricted Restricted Wages and salaries National insurance Auditor5. remuneration Meeting expenses, trustee recruitment and AGM cost5 6.032 654 9.000 6.032 654 9.000 5,856 635 8,675 653 653 833 16,339 16,339 15,999 35 East End Cltlzens Advlce Bureaux Notes to the flnanclal statements For the ear ended 31 March 2025 Grants recelvable 2025 2024 London Borough of Hackney General advice Advlce In health settings Household support fund energy and food vouchers Hackney CVS food vouchers London Borough of Tower Hamlets General advice Management The National Lottery Communlty Fund Cost of Living Citizens Advice Blg energy savlngs network Cost of Livlng Energy advice programme Energy caseworker project Energywarm homes discount Other Access to Justice Foundatlon Barts Health NHS Trust The Church of England Chlldren's Soclety Clty Brldge Foundatlon Energy Saving Trust Good Thlngs Foundation HMRC Greater London Authorlty - via Community Links Greater London Authorlty - vla Royal Courts of Justice CAB The Hackney Parochlal Charltles welfare benefits and debt The Hackney Parochial Charltles - NRPF fund Homerton Hospltal Independent Age Islamic Rellef South Hackney Parochlal Charlty Thames Water Trust Fund Tower Hlll Trust Trussel Trust Trust for London Wakefield & Tetley Trust West Hackney Parochial Charity 260.000 18,000 70,000 5,000 260.000 15.000 70.000 5.000 681.000 39.000 800,060 39.000 75.000 15,000 47.646 16,556 55.667 10.500 252 114,286 25,468 186 85.714 24.726 7,000 57.400 58,400 47,358 3.200 19,008 92.250 25,000 1,000 6,000 19.725 104.617 47,000 6,000 30,000 40,000 15.000 40.000 15.000 20.000 7.000 2,156 104,134 27,800 I s.000 i 0,000 20,000 1.824,119 1,742.990 Tower Hamlets act as the lead partner In a grant consortia recelving cash and passing it on to partner organlsations. Grant income included in income and expendlture is £509.931 (2024 £599.469). 36 East End Cltlzens Advlce Bureaux Notes to the finandal Statements For the ear ended 31 March 2025 Net Income for the year This Is stated after charglng.. 2025 2024 Depreclation of tangible flxed assets owned by the charlty Operatin9 lease rentals.. Property Audltors, remuneratlon {excludlng VAT).. Audit 483 1.287 51,695 51,695 9,000 8.675 Analysls of t￿stee remuneratlon and expenses, and the cost of key management personnel The total employee beneflts Ilncludlng pension contrlbutlons and employer's nailonal Insurance) of the key managernent personnel were £234.606 (2024.. £273,572). Whllst Trustees are consldered to be Included In the deflnltion of Key Management Personnel. they are not remunerated. Employed Key Management Personnel are considered to comprlse the Senlor Management Team which includes.. Chlef executlve Flnance manager IT manager Project manager Tralnlng and development manager The charity trustees were neSther pald nor recelved any other beneflts from employment with the charlty in the year12024.' £nil). No charlty trustee recelved payment for professional or other serrfices supplled to the charity12024.' £nlll. No Trustees recelved relmbursement of expenses. {2024.' £342 for room hire expenses). l O Staff costs and employee benefit5 Staff costs were as follows.. 2025 2024 Wages and salarles Soclal securlty Costs Other penslon costs Redundancy payments 1.175,389 119.418 21.403 1,086,338 109.122 20.834 2,943 1,316,210 1,219.237 One employee recelved remuneratlon between £60.000 to £70,000 durlng the year12024 One). 37 East End Cltlzens Advlce Bureaux Notes to the flnanclal statements For tb.• v•jr enA•t4 ll March 2025 11 staff numbers The average number of employees (head count based on number of staff employed) durlng the year wa5 34 (2024.. 331, Staff are split across the actlvlties of the charitable company as follows.. 2025 No. 2024 No. Project and activitv Adminisiratlon and Support 32 31 34 33 The average number of full and part time employees during the year wa5 as follow5.' Full tlme e ulvalent 2024 No. Head count 2024 No. No. No. Full time Part tlme 29 27 29 27 32 30 34 33 12 Related party transactlons A5 shown on page l of thls report one of our Trustees, who resigned during the year, was also a London Borough of Hackney Counclllor. The wife of one of the Trus(ee5 Is also a London Borough of Hackney Counclllor and a London Assembly member. East End Clt12ens Advlce Bureaux receive5 grants from London Borough of Hackney and in 2023124 and 2024125 It also received partnership grants. where It Is not the lead partner organlsatlon, from the Greater London Authorlty. There are no related party transactlons to dlsclose for 2025. other than the Trustee expenses shown In Note 9 of £NII,12024'. £342). There are no donations from related parties which are ouislde the normal course of business and no restricted donations from related parties. One12024 one) of the daughters of the Chief Executive has been employed by the charity as the research. engagernent and fundlng lead during the year and was pald remuneration of £46.73412024 £40,774) Including ernployers national insurance and pension costs. 13 Taxatlon The charitable cornpany Is exempt from corporation tax as all it5 income Is from charitable actlvlties and Is applied for charlrable purposes. 38 East End Cltlzens Ad¥lce Bureaux Notes to the financlal statements For the ended 31 March 2025 14 Tanglble flxed assets Flxtures and fittlngs Offlce equlpment Computer equipment Total Cost or valuatlon At the start of the year Addltlons In year Dlsposals In year 2.817 45,339 9.2S1 1,302 57,407 1,302 At the end of the year 2,817 45,339 10.553 58,709 Depreclatlon At the start of the year Charge for the year Ellmlnated on dlsposal 2.817 45,101 237 8.617 246 56,535 483 At the end of the year Net book value At the end of the year 2.817 45,338 8,863 57,018 1,690 1,691 At the starr of the year 238 634 872 All of the above assecs are used for charltable purposes. 15 Debtors 2025 2024 Trade debtors Prepayment5 Grant and contract debtors Other debtor5 144,463 7,844 66.927 813 77,001 7,839 49,063 7,689 220,047 141,592 16 Credltors.. amounts falllng due wlthln one year 2025 2024 Trade credltors Taxatlon and soclal security Penslon deficlt liability Other creditors Accruals Deferred income (see note 17 below) 64,553 53,716 28,500 69,113 77,264 63,071 26.048 43,310 28.500 66,878 78.846 89.429 356,217 333.011 39 East End Cltlzens Advlce Bureaux Notes to the flnanclal statements For the vear ended 31 March 2025 17 Deferred In¢ome Deferred Income comprises amounts received in advance that are grant5 or contract payments attrlbutable to specified future periods. 2025 2024 Balance at the beglnnlng of the year Amount released to Income In the year Amouni deferred in the year 89,429 18g,429) 63,071 99,419 (99,419) 89,429 Balance at the end of the year 63,071 89,429 18 Credltors- amount5 falllng due after one year 2025 2024 Pen51on deficii reductlon payments 273,861 303.983 273.861 303,983 Credlrors Include amounts not wholly repayable within five years as follows.. 2025 2024 Penslon deflclt reduction payment5 repayable by In5talments 239,790 266,006 19a Analysls of net assets between funds Icurrent year) General unrestrlcted Deslgnated Restrlcted Total funds Tanglble fixed assets Current a55et5 Current liabilities Long term liabilities, defined benefit pension 1 .303 1.019,543 1143.044) 388 1,691 505,832 1,525.375 128.500) 1184,673) (356.217) 1273.861) (273.861) Net assets at 31 March 2025 877,802 1302,361) 321.547 896.988 19b Analysls of net assets between funds (prlor year) General unrestricted Designated Restrlcted Total funds Tangible flxed a55ets Current assets Current Ilabllities Deflned benefit pension a55et l (liabillty) 871 872 430,506 1.395.251 128.5001 1208,497) (333.01 T) (303,983) (303,983) 964,745 (96.014) Net assets at 31 March 2024 868,732 1332.483) 222,880 759,129 40 East End Cltlzens Ad￿ce Bureaux Notes to the financlal statements For the v&ir ended 31 March 2025 20a Movements In funds (current year) At l Aprll 2024 At 31 March 2025 Income Expenditure Transfers Restrlcted fvnds: Hackney Bureau advice services Advice in health settings Homerton Hospltal Energy vouchers Energy vouchers All 3 boroughs National Lottery Communiry Fund Crlsis project Big Energy Savings Network Energy advice programme Energy ia5eworker project Energy warm homes discount Hackney CVS food voucher5 Hackney Covld-19 Digital inclusion HMRC Energy advice and empowerment Gambllng support Se￿i(e$ Hackney Foodbank Hackney Legal walk vouchers Hackney NRPF voucher fund 151amic Relief Cost of Ilvlng advice Kickstart Money management 5ervlce Power Up Schools project Supervlsor Unlversal credlt Unlversal credlt best practlce Welfare benefit and debt Newham ARG Capltal fund Natlonal Lottery Communlty Fund Cost of living advice National Lottery Community Fund Cost of living Energy and food vouchers Citizens Advice Cost of living Energy advice and empowerment Greater London Authorlty Cost of living Greater London Authority General advlce Power up Specialist casework Thames Water Trust Fund Trust for London Other Tower Hamlets Bureau advice servlces Council tax 260.200 18.000 6.000 70.000 (214.5731 (17,4391 16,0001 170.3801 {213) (4,618) 442 41,009 1,003 1.005 238 625 25 1 .408 1388) (7) {934) 72 832 1.020 16,556 55,667 10,500 5.000 (15.622) (55.739) (11.332) 14.865) 22 157 18) (142) 142 (4,4241 265 (1.9291 1221 (100) 13.786 9.362 (265) 2.156 227 22 103 20,000 (18.572) 768 1.428 1768) 4.262 6.423 1.105 (58.669) 319 2.778 933 158,4911 (1,105) 1130) (319) (2.778) (158) (1 .509) 4,262 6,024 58.400 775 22,000 82.000 65.962 (7761 65,186 1.538 11.535) 13.786 14.289) 9.497 638 104.618 199.177) 421 6,500 6.475 3.077 19,725 117.0961 9.104 3,077 114,286 40,000 104.133 1119,659) 141.085) {66,063) {24,8761 5.373 796 289 17.379 18.000 55,449 6.876 5.896 22.904 720.000 1736.5801 10.684 22,904 41 East End Cltlzen5 Advlce Bureaux Note5 to the flnanclal statements Fnr thp vpAr al klArch 2025 20a Movement5 In funds (current year) (contlnued) Ar l Aprll 2024 At 31 March 2025 Income Expenditure Transfers Restrlrted funds.. Tower Hamlets Icontinuedl Energy vouchers Local area parrnershlp 2 Premises Advice in health 5etting5 Age Boosting Advice Project Islamic Relief Cost of livlng Employment solicitor Energy advice and empowerment Offlce equiprnent Power Up Royal London Hospital Schools project Video conferencing equipment Volunteer tralnlng 4,738 3,066 5.000 10,067 14.738) 3,066 5,000 10,067 8.879 30.000 20.000 23,400 13,786 (21 1211 120,0941 (28.3691 14.405) 94 5,850 881 9.381 550 5,029 16,898 550 5,029 20.350 11.595 634 1 .768 25.468 {28,9201 {11,6541 (2461 59 388 1.768 Total re5tr1cted funds 222,880 1.847.467 11.761,320) 12.520 321,547 Unrestrlcted funds: Deslgnated funds Pension deflclt fund (332,4831 23,494 6,628 (302.361) 1332,483) 23,494 6,628 1302,361) General funds General funds 868,732 335,111 {306,8931 {19,148) 877.802 Total unrestrlcted funds 536.249 358,605 (306,8931 112,520) 575.441 Total funds 759,129 2.206.072 (2,068,213) 896.988 The narrative to explaln the purpose of each fund for each of the years, to 31 March 2025 and 2024 is glven at the foot of the prior year note 20b below. 42 East End Cltlzens Advlce Bureaux Notss to the flnanclal statements For the vear ended 31 March 2025 20b Movernents In funds (prlor year) At l April 2023 At 31 March 2024 Income Expendlture Transfers Restrl(ted funds: Hackney Bureau advice services Advice in health settings Homerton Hospltal Energy vouchers Energy vouchers All 3 boroughs National Lottery Community Fund - Crisis project Big Energy Savlngs Network Energy advlce programme Energy caseworker project Energy warm homes dlscount Hackney CVS food vouchers Hackney Covid-19 Digital inclusion HMRC Energy advice and empowerment Gambling support seNices Hackney Foodbank Hackney Legal walk vouchers Hackney NRPF voucher fund Islamlc Rellef Cost of livlng advlce Klckstart Money management servlce Power Up Schools project Supervisor Universal credit help to claim Universal credlt best practice Welfare beneflt and debt Newham ARG Capltal fund Natlonal Lottery Community Fund Cost of living advice National Lottery Communlty Fund Cost of livlng Energy and food vouchers Citizens Advice Cost of Ilving Energy advice and empowerment Greater London Authorlty Cost of Ilvlng Greater London Authorlty General advice Power Up Specialist casework Thames Water Trust Fund Trust for London Other Tower Hamlets Bureau advice services Council tax Energy vouchers 260,000 15,000 6,000 70,000 1266.885) (18,798) 16.000) (72.680) 11.148) 6.885 3.068 730 3.685 1.386 1 .005 238 47,646 151.4411 3,795 5.000 (4.978) 22 3,200 13.632) 432 3.206 1.000 13.184) 1897) 22 103 3,730 4,262 (3.7301 4,262 6.423 57,400 150.9771 1,891 50,000 (63.221) 11,330 100,729 (34.767) 65,962 67,500 (73,894) 6.394 7.500 15.000 15.962) (15.044) 1,538 44 5,286 93,750 (100.1131 1.715 638 7,165 3.077 19.008 119,6981 6,475 3.077 85,714 20,OOQ 27,800 186,5941 119,7111 117,3551 880 289 17.379 18,000 6,934 18.000 20.674 22.904 23.372 839.060 185 5,8551 2,017 5.896 22.904 4.738 (18,6341 43 East End Cltlzens Advlce Bureaux Notes to the ftnanclal statements For the vear ended 31 March 2025 20b Movements In funds (prlor year) (contlnued) At l Aprll Income Expendlture Transfers At 31 March Restrlrted funds: Tower Hamlets (continued) Local area partnership 2 Premises Advice in health settings Age Boosring Advlce Project Islamic Relief Cost of Ilvlng EinployiiieriL suliLiIui Energy advice and empowerment 0￿1(e equipment Power Up Royal London Hospital Schools project Video conferenclng equipment Volunteer training 3,066 s.000 10,067 3.066 s,000 10,067 17,963 31,474 (43,587) 5,850 228 5.029 18.359 12.729 880 1 .768 1 ,500 (1.178) 550 5.029 20.350 11.595 634 1,768 24.726 29,000 (22.735) (30.134) 12461 Total restrlcted funds 298,914 ,780.484 (1,893.078) 36.560 222.880 Unrestrltted funds: Deslgnated funds Penslon deficit fund (298,995) (48,2721 14.784 1332.483) General funds General funds 839.434 329.914 1249.272) 151,3441 868.732 Total unrestrlcted funds 540.439 329,914 1297.544) 136.560) 536.249 Total funds 839.353 2.110.398 (2.190,622) 759,129 The narrative to explaln the purpose of each fund Is glven at the foot of the note below. Purpose of restrlcted funds Hackney reau advlce This funding provldes general information. advice. advocacy. casework and financial inclusion to the people of Hackney. I h sett sandHo Ho This project provides general advlce in GP surgeries in Hackney and Tower Hamlets and In the mental health unlt of Homerton Hospital. vouchers These projects, funded by the Household Supporr Fund, provided energy vouchers to those in need who had prepaid gas and electrlclty meter5. ou hers all 3 Borou Thls project provided energy voucher5 across all three boroughs. 44 East End Cltlzens Advlce Bureaux Notes to the flnanclal statements For the ear ended 31 March 2025 20b Movements In funds (prlor year) (contlnued) Purpose of restrlcted funds Hackney (contlnued) Thls project provlded a hollstlc servlce to those In hardshlp crlsls to resolve emergency problems and the underlylng issues and to ensure that people are better able to Improve their circumstances by providing digital and flnanclal group training sessions and worklng wlth partner organisations to provide literacy, numeracy and language skills training. life coaching and employablllty tralnlng. vl Thls fundlng provlded consumers wlth energy advlce and Informatlon. It also provided tralnlng to frontllne workers to support and advlse consumers to be able to take action to reduce thelr energy costs. Thls project provldes one to one advlce to cllents In fuel poverty, or in a fuel poverty risk group at the CAB offlces, at outreach locatlons, vla home vlslts or telephone and webchat sessions. Thls project dellvers speclallst energy advlce and Income maxlmlsatlon support to clients experlencing fuel poverty. Thls project provldes energy advice and informatlon on the Warm Home Discount Scheme which provide5 a £150 discount on electricity bills for ellgible low-lncome households. This funding provided supermarket vouchers for Hackney residents. The Covld-19 project provlded extra capaclty to provlde advlce after the Covid-19 pandemlc. Thls funding assists clients to access HMRC'S servlces dlgltally. This project. which is funded for two years from February 2025, provldes hlgh quallty energy advice and education which is accesible beyond traditional routes. including via face to face at community outreach locations. telephone and home visits. The project delivered bespoke training and awareness-raising events to frontllne staff In their region to provote improved identification and early interventlon for indlvlduals at rlsk of gambling related harm via online training sessions and presentations. This project provides a full time generalist adviser worklng In the Foodbanks at varlous locations in Hackney. This fund was creatod from a Sponsored walk by tho Icgal community in Hackney to provlde vouchers to Hackney residents in need. Hackne NRPF voucher fund Thls fund was deslgned to support people who had No Recourse to Public Funds. 45 East End Cltlzens Advlce Bureaux Notes to the flnandal statements For the ear ended 31 March 2025 20b Movements In funds (prfor year) (contlnued) Purpose of restrlcted funds Hackney (contlnued) vic Thls funding Is designed to provide advlce and access to financlal support to Indlvlduals and famllles acr055 our three boroughs in ouireach locations so that the most vulnerable can reach us. Klck5tart The Kickstart programme provided work opportunities for young people in our Hackney and Tower Hamlets office as IT support workers and telephone asse550rs. man This project provldes advice on money management. The project aimed to embed digital into financial capability and money management support within the advice pr¢xe55 and bulld upon the success of the Money Smart programme. The project trained Dlgital Money Coaches to support disadvantaged local resldent on money management, debt and benefits advlce to build their financlal and digital confidence. and tested interventions ar dlfftrent touchpoints In the advice proce55. The proJect vias spread over all rhree boroughs. This project provides general advice to carers of children in the school setting. This project employed a volunteer supervisor to a551St wlth the trainlng and development of volunteers. The funding was to provide asslstance wlth the completlon of unlversal credlt forms by telephone and web chat and face to face meetlngs where posslble. The Best Practice Lead gathered informatlon and evldence on what was and wasn't worklng around Universal Credit and Unlversal Support and dissemlnated good practce in the East London area. ice This fundin9 Is provided by three local charlties to extend our work on debt and welfare benefits. Newham Thls funding Is to a5515t with the renovation of new premises in Newham. Natlonal Lotte food vouchers Thi5 project. based in Newham. was designed to provide c05t of living advice across all our three boroughs. IO% of rhe fund was allocated to energy and supermarket vouchers which were given to clients. vln This project, funded by Cltlzens Advice was to provide advice on the c05t of living crisis across all three Boroughs. The projecr was based at our Newham office. En dv we Thls project. which is funded for two years from February 202 5. provides high quality energy advice and educatlon whlch Is acceslble beyond traditional routes. including via face to face at community outreach locatlons, telephone and home visits. 46 East End Cltlzens Advlce Bureaux Notes ta the flnanclal statements For the ear ended 31 March 2025 20b Movements In funds (prlor year) (contlnued) Purpose of restrlcted funds Newham (contlnued) f Ilvln vl The funding provided by the Greaier London Authorlty, vla a partnership with Royal Courts of Justice CAB and since l Octobor 2024 wlth London Citlzons Advico, Is to provldo cosi of living advice across all throe boroughs. The project Is based at our Newham office. l advlce Thi5 project. funded by the Greater London Authorlty. Is to provide general advice in Newham via a partnership with Community Links. The project aimed to embed digital into financial capability and money management support withln the advice process and bulld upon the succe55 of the Money Smart programme. The project trained Dlgltal Money Coaches to support disadvantaged local resident on money management. debt and benefits advice to bulld their financial and digital confidence. and tested interventions at different touchpoints in the advice process. The project was spread over all three borough5. This project provides speclallst casework and supporr to Improve access to early soclal welfare and famlly legal support and advice to enable cllenrs to resolve problems as early as posslble and avold the need for court or trlbunal proceedlngs where posslble. If such hearings are necessary. It provides support In preparlng for and attendlng them. Thames Water The project aims to assist resldents of our three boroughs who owe money to Thames Water. Trust for London Thls fundlng Is towards the costs of an employment rights advlce servlce across our three boroughs, Other This fund has been created from rent provlslons prevlously charged to Newham projects followlng a declslon by the landlord not to charge rent. It has been used to cover the extra cost of employlng ts¥o part time IT assistants to allow the IT manager to deal with the premises issues in Newham. Tower Hamlets Bureau advlce servlces This fundlng provides general information, advice, advocacy. casework and financlal Inclusion to the people of Tower Hamlet5. ro ec The council tax project wa5 designed to a5SISt Tower Hamlets resldents. who were in arrears with their council tax, to reduce their debts. Ener VOLI Th15 project provided energy vouchers ro rhose in need who had prepaid gas and electriclty meter5. This funding provided general information, advice. advocacy. casework and Pinanclal Inclusion to the people In some of the poorest ward5 in Tower Hamlet5. Thi5 project 15 now included In the bureau advlce services project. Premlses The premlses grant was to cover extra costs re Covid-19. 47 East End Cltlzens Advlce Bureaux Notes to the financlal statemenrs For the r ended 31 March 2025 20b Movements In fund5 (prlor year) (contlnued) Purpose of restrlcted funds Tower Hamlets (contlnued) Thls project provlded general advice in GP surgeries in Tower Hamlets. Thls rhree year project, whlch started in October 2024. is de51gned to PrO￿de ad￿ce to clients who are over 65 who find It dlfficult to acce55 our office5 to obtain advice. Advice is being provided by telephone and home visits. We are looking to extend thls 5ervlce to provlde advlce in Community settings in 202 5126. The projeci is based at our Tower Hamlet5 Office but covers all three Boroughs. This funding is deslgned to provide advice and access to financlal support to individuals and families across our three boroughs in outreach locations so that the most vulnerable can reach us. This fundin9 was to provide employment ad¥lce ro those wlth little access to legal services in Tower Hamlets. This project, which is funded for two years from February 2025. provides high quality energy advice and education which is acceslble beyond traditional routes. including via face to face at communlty Outreach locations. telephone and home visits. This fundlng was used to purchase a photocopler for the Tower Hamlets O￿lce. The project almed to embed dlgital Into financial capability and money management support wlthin the advice process and bulld upon the success of the Money Smart programme. The project trained Digital Money Coaches to support dlsadvantaged local resldent on money management, debt and beneflts advlce to bulld thelr financlal and digital confidence. and tested interventions at different touchpoints in the advlce process. The project was spread over all three boroughs. Thi5 funding is to provide general advlce to the patlents of the renal and urology unlts of the Royal London hospital. This projeci provided general advice to carers of children in the primary school setting but came to an end in December 2024. This fundlng was used to purchase video conferencing equipment to allow clients to access advlce remotely from the Tower Hamlets office. te tra The purpose of this funding was to provlde volunteers wlth a better environment and experience by updatlng our tralnlng room and equlpment and Improvlng the outdoor space at rhe offlce. 48 East End Cltlzens Advlce Bureaux Notes to the flnanclal statements For the ended 31 March 2025 20b Movements In funds (prlor year) (contlnued) Purpose of deslgnated funds Penslon deflclt fund The pension deficit fund wa5 establlshed to recognise. as a participant In a multl-employer defined benefit pension scheme with a deficit reduction payment arrangement In place, the Ilablllty representlng the present value of these future deficit reduction contributions following the Introductlon of charltles SORP (FRSI 021. The value of tlils fund Is equal to the corresponding Ilablllty wlthin credltors. A transfer was made from general funds to the penslon deflcit fund representing the current year payment of the penslon deficlt less the unwindlng of the dlscount. Purpose of transfers between funds The transfers from unrestricted fund5 to restricted funds are to cover 5hortfa115 of funding on the projects. Transfers between office5 between the same prolect are to match internal fundinq needs. 21 Reconclllatlon of net Income l (expendlture) to net cash flow from operatlng actlvltles 2025 2024 Net Income for the reportlng perlod (as per the statement of flnanclal actlvltles) Depreciation charges Dividend5, interest and rent from inve5tment5 (Increase)/decrease in debtors Increaselldecreasel In credltors 137,859 180.224) 483 (21 ,038) (78,455) 16,916> 1.287 17,813> 42.511 47,292 Net cash provlded by operatlng actl¥ltles 31,933 3.053 22 Analys15 of cash and cash equlvalent5 At l Aprll 2024 Cash flows Other At 31 March changes 2025 Cash at bank and in hand 1,253,659 51,669 1.305.328 Total cash and cash equlvalents 1.253.659 51,669 1.305,328 23 Operatlng lease commltments The charlvs total future mlnlmum lease paymenrs under non-cancellable operating leases Is as follows Property Equlpment 2025 2024 2025 2024 Less than flve years 49 East End Cltlzens Ad￿ce Bureaux Notes to the flnanclal statements For the r ended 31 March 2025 24 Flnanclal Instrument5 2025 2024 The carrying amounts of the charlty's flnanclal Instruments are as follow5.. Flnanclal assets Cash of £1 ,305,328 {2024'. £1.253,659) is held at face value. Dobt inJrtrumontJ moaJrurod at amortised COJrt: Trade debiors Grant and contract debtors Other debtors 144,483 66,927 813 77.001 49.063 7.689 Total 212.203 133,753 Flnanclal Ilabllltle5 2025 2024 Llabllity instrument5 rneasured at amortised c05t'. Trade credltors Accruals Other creditors Pension deficit reduction payment5 (wlthln l yearl Pension deficit reduction payment5 (after l year) 64.553 77,264 69,113 28,500 273,861 26.048 78.846 66.878 28.500 303,983 Total 513.291 504,255 Interest on short term dep051ts amounted to £21 .03812024.. £7.813). 25 Pénslon commltments East End Citizen5 Advice Bureau participated in the National Association of Citizens Advice Bureaux Pension and Assurance Plan 11991) which was a defined benefit scheme. It operated in the UK and was closed on 31 March 2008. More than one employer partlclpated in the scheme and East End Citizens Advice Bureaux is unable to Identify Its share of the underlylng assets and liabilitie5 in the scheme. It has been accounted for as a defined contribution scheme. The Plan is a registered scheme under UK legislation. The Plan is subject to the Scheme funding requirement5 Outlined in UK legislation. The Plan is governed by the Plan'5 Trust Deed and Rules dated 4 April 2011 . The Trustee is responsible for the operation and the governance of the Plan, including maklng decisions regarding the Plan's funding investment strategy (although they are requlred to consult the Principal Employer). The last full actuarial valuatlon of thi5 scheme revealing a fvndlng deficit of £53.536,000 was carried out as at 31 March 2022 and has been updated on an approximate basis to 31 March 2025 by a quallfled actuary. independent of the Scheme's sponsoring employers. The updated valuation showed a deflcit on the scheme of £40.624,00012024 £46.488.000) using a discount rate of 5.8%12024 4.9%). The Ilabllltles of the Plan are based on the current value of expected beneflt payment cashflows to members of the Plan over the next 60 or more years. The average duration of the Ilablllties Is approxlmately l O years. The Plan is exposed to actuarial risks such as market Ilnvestment) rlsk. Interest rate risk. Inflarlon rlsk, currency rlsk and longevity rlsk. 50 East End Cltlzens Ad¥lce Bureaux Notes to the flnanclal statements For the ear ended 31 March 202S 25 Penslon commltrnents Icontlnued) The closed scheme ha5 current and future pensloners. The employer5 will continue to make contrlbutlons to the Scheme In future perlods. The best estlmate of the contributions are'.- The prlnclpal employer, the National Assoclation of Cltlzens Advlce Bureaux, NACAB, ha5 agreed to pay amounts equal to the levy payments to the Penslon Protertlon Fund. NACAB has also agreed to pay the management and adminlstration expenses of the scheme. There Is therefore no cost to EECA8x to Include In the charlty's accounts. In accordance with the recovery plan followlng the 31 March 2022 actuarial valuation, the sponsoring employers will pay total annual concrlbutlons of £2.918.000 for flfteen and a half years from l April 2025 to 30 September 2040. East End CAB'S share of thls Is currenrly £28,500 per annurn. Future valuations may change these amounts, The total Ilablllty for these future payments, dlscounted to new present value, Is Included on the charity's balance sheet and a charge made to the SOFA annually to unwind the dlscount In Ilne with the charity's accounting pollcies. 2. The charlty participated in series three of the Pensions Trust Growrh Plan, a scheme whlch has some attrlbutes of a defined benefit scheme and some attributes of a defined contrlbutlon scheme. It Is considered to be a defined benefit scheme. This has now been comblned wlth the serles four deflned contribution scheme. Following a valuation at 30 September 2024 carrled out by Independent actuarles. it was estirnated that the charitWs share of the deficit in the plan at 30 September 2024 was £3.32812023 £3,037). This liability wlll only crysta1115e if the charity exits the series four plan and the charlty does not antlcipate this happening in the future. The charity is not requlred to parrlclpate In a recovery plan (make deficit reduction payment5). 3. The charlty operates further pension schemes. both of whlch are defl ned contrlbutlon scheme5 for which the charity therefore has no further commitment beyond monthly contrlbutlons for employed staff. 26 Capltal commltments At the balance sheet date, the charity had no capital commitments orher than those dlsclosed in these flnancial statements. 27 Contlngent assets or Ilabllltles Slnce the balance sheet date we have been Informed that we may be requlred to Increase our payments to the Natlonal Assoclation of Citizens Advlce Bureaux Penslon and Assurance Plan 11991) defined benefit penslon plan followlng the 2025 trlennlal valuatlon. The exact nature and arnount of discounted payments, If any, wlll be determlned In due course. At the balance sheet date, the charity had no other contlngent assets or Ilabllltles other than those dlsclosed in these financial statements. 28 Legal status of the charlty The charity is a company limited by guarantee and has no share capltal. The Ilablllty of each member in the event of winding up 15 limited to £1. 51