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2021-03-31-accounts

Paae
Report ofthe Trustees 1 lo 12
Report ofthe Independent
Auditors		 13 lo 15
Statement ofFinancial Activities 16
Balance Sheet 17
Cash Flow Statement 18
Notes tothe Cash Fhrw Statement
Notes to the Financial Slatements 20 lo 36
Detailed Statement of Financial Activities 37 Io 38

2021 2020
Unrestreted Restricted Total Total
funds funds funds funds
Notes
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 166,744 168,744 198,167
Charitable activities
Generagst advice
Specialist advice		 272,427 3,984,442
44.629		 4,256,869
44,629		 3,355,189
206,218
Investment
income		 1.393
Total 439,64D 4,029,071 4,468,711 3,760,967
EXPENDITURE ON
Charitable
actlvlges
Generalist advice
Specialist advice		 105,593
30,970		 3,904,807 4,D10,400
30,790		 3,236,758
223,560
Other ~5,411)
Total 136,383 3,916,087 4,041,190 3/l54,90T
Net gains on investments 25,779 25779 ~75000
NFT INCOME 329,036 124,264 453,300
Transfem
between funds		 24 24591 ~24.591
Net movemsnt
in funds		 353.627 99,673 453,300 381,060
RECONCILIATION
OF FUNDS
Total funds bought forward 1,529,200 24,586 1,553,786 1,172,726
TOTAL FUNDS CARRIED FORWARD ~1882827 ~124 259 ~2007086 ~1553786

2021 2020
Unrestdcted Restdcted Tobrl Total
funds funds funds funds
FIXEDASSETS Notes 2 5
Tangible assets
Investments		 14
15		 390,6D7
103,279		 390,807
103,279		 403,323
493,886 493,886 403,323
CURRENT ASSET8
Debtors
Cash at bank		 16 173,924
1,579,397		 269,688
~145.429)		 443,612
1433968		 75,086
1,554289
1,753,321 124,259 1,877,580 1.629,355
CREDITORS
Amounts
falling due within one year		 17 (207,303) (2D7,803) (200,003)
NETCURRENl'ASSETS 1,545,518 ~124 9 ~1669,777 ~1429,352
TOTAL ASSETSLES8CURRENT UABILIllES 2,039,404 124,259 2,163,683 1,832,875
CREDITORS
Amounts
falling due after more than one year		 18 (47,577) (47,577) (52,389)
PROVISIONS FOR UABILITIES 23 (109,00D) (109,000) (226.ODD)
NET ASSETS ~1882,827 124.259 2007.D86 ~1553 786
FUNDS
Unrestricted
funds
Restricted funds		 1,882,827
~124259		 1,529,200
24.586
TOTAL FUNDS 2.007,086 1553788

2021 2020
Notes 8 5
Cash flows from operating
activities
Cash generated
from operations		 ~29439 236,166
Net cash provided
by operating
acdvi6es		 29,438 235.166
Cash flows from Investing actlvhtes
Purchase oftangible
fixed assets
Purchase ofsxed assai investments
Interest received		 (42,610)
(100,500)
469		 (42,249)
Net cash used
In investing		 ac8vt6es ~142,641) ~40.8%)
Cash flows from financing
Loan repayments
in year		 activities ~4873
Net cash used
in financing		 ac6vI6es ~7,119) ~4673)
Change In cash and cash equivalents In
ths reporting
period
Cash snd cash equivalents		 at the (120,321) 190,637
beginning
ofthe reporting		 period ~1554289 1,363,652
Cash and cash equlvalsnbr at the end of
the reporting
period		 ~1,433968 1554.288

Net Income forthe reporting
Ac5vittes)
Ad)ustnrents
for:		 period (as psr the Statement ofFinancial 2021f
453,300		 2020f
381,060
Depreciation
charges
Losses cn investmsnts
interest received
Mortgage interest paid
Increase/(decrease)
in provisions
(Incmaseydecreass
In debtors
Increase/(decrease)
in creditors		 55,326
(2,779)
(469)
2,182
(117,000)
(368,545)
7424		 53,701
(1,393)
(145,000)
81,592
(133,794)
Net cash provided
by operations		 ~236 166
2, ANALYSIS OF CHANGES
IN NET F(INDS
Net cash At 1/4/20
f		 Cash flow At 31/3/21
f
Cash at bank 1.551259 ~4327 14
M5
~1554,289 ~!20,321) ~1,433968
Debt
Debts faging dus within
1 year
Debts felling due atter 1 year		 (4,673)
~62.2)9		 (375)
5.312		 (5,048)
~47,577)
~57.562 4937 152.625)
Total ~1496727 ~115,384) ~1381,343

4. INVESTMENT INCOME
2021 2020
Bank interest receivable 8
469		 E
1,393
INCOME FROM CHARITABLE ACTIVITIES
Aolivity
Giants and contract funding
Generalist advice
Grants and contract funding
Specialist advice		 2021
3,988,538
332,96D		 2020
3,355,189
206,218
4301498 ~3551 4D7
Further analysis ofgrants and contract funding:
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2021 2020
Aneurin Seven
CiTizens Advice -Better Advice: Better Uves
CNzens Advice -Energy BestDeal Extra
CI5zsns Advice -Equipment
Grant
CNzens Advice -Communities
First Shared		 69,715 8
15,616
21,198
5,810		 69,715
15,615
21.198
5,810		 143,851
17,640
Outcomes
Citizens Advice - Phone Stralagy lmplementa6on
Citizens Advice -Breztt Fund
Cillzens Advice -Pension Wise
Ciszens Advice -Witness Service
Cigzens Advice -Consumer
Service
CNzsns Advice —Consumer Servhe (Development
funds)
CNzsno Advice - Consumer
Service (Scorns		 613,600
120,209
337,571
900,236		 613.80D
120,209
337,571
QDD,236		 'I72,500
380,00D
150,000
118,0%
330,371
667,358
52,047
Awareness)
Citizens Advice - Help to Claim: Piht support
service
Citizens Advice -Help to Cfairn; Plkrt service set up
coats
Ciazens Advice -Big Energy Saving Week
Caerphilly
County Counrg - Confident
with Cash
Community
FO		 174,435 30,167
158.108
12,688		 30,167
158,108
12,888
174,435		 22,626
153,634
22,053
9,DDD
163,368
Foundation
Wales - COVID-19 Rssi1ience Fund
Energy Redress Fund
MASDAP F2FWales
MASDAP contact centre
Moondance
Foundation
Caerphigy
County Council - Debt Relief Order		 15,000
18,399
10,001
733,16T
28,359		 15.000
16,399
10,001
733,167
26,359		 155,946
689,950
Intermediary
service
Test8Leam
Welsh Government -Advice Link Cymru (Remote		 27,916 28,665 27,916
28,665		 27,916
fund)
Welsh Government
-Advice Link Cymru		 432,497 432,497 126,382
(Generalist fund)
Welsh Govemrnent
-Advice Link Cymru (Debt		 325,244 325,244 80,004
fund)
Welsh Govemrnsnt -Advice Link Cymru (Specialist		 169,908 189,908 8,515
fund)
Welsh Government -Voluntary Service Recovery		 34,628 34.628 41,T57
Fund
Other		 361 22,00D 22,000
361		 28,661
272427 4,029,071 4,301498 3,561 407

2021 2020
Auditors'
remuneration
Auditors'
remuneration
for na~udit
work
Depreciation - owned assets
Staff pension
corrlributions
Auditors'
remuneration
-other finsndsl
services		 3,450
1,610
55,326
176,224		 3,450
53,700
184,256
3434
TRUSTEES' REMUNERATION
AND		 BENEFITS
There were no trustees'
mmunerstion
31 March 2020.		 or other benefits for the year ended 31 Mamh 2021 or far the year ende
Trustees' expenses
During the year no expenses were paid to trustees. (2020:ENII)
STAFF COSTS
2021 2020
Wages and salaries
Social security costs
Other pension oosts		 E
3,107.377
249.632
176,224		 E
2,607,950
202,915
184256
~3,533233 ~2995.121
The average
monthly
number ofemplayses		 during the year was as follows;
Number ofadministrative
staff
Number ofmanagement
stat/
Number ofcaseworker/advisors
Number aftraining 5recruNment
Number of other staff		 2021
6
9
142
1
3		 2020
9
8
114
1
1
161 133
250,001 - E70,000 2021
1		 2020
1

COMPARATIVES FORTHE STATEMENT OF RNANCIAL ACTIVITIES FORTHE STATEMENT OF RNANCIAL ACTIVITIES FORTHE STATEMENT OF RNANCIAL ACTIVITIES FORTHE STATEMENT OF RNANCIAL ACTIVITIES
Unrestricted Restricted Total
INCOME ANO ENDOWMENT8 FROM fundsf furids
f		 fundsf
Donations and legacies 198,167 198,167
Chsrhahle
activities
Generalist advice
Specialist advice		 219,945 3,135,244
206,218		 3,355,189
206,218
Investment
income		 1393 1,393
Total 419.505 3,341,462 3,760,967
EXPENDITURE
ON
Charitable
acdvities
Generalist
advice
Specialist advice		 1D2,061
16,712		 3,134,697
206,848		 3,236.758
223,560
Other ~5.411 ~5411)
Total 113,362 3,341,545 3,454,907
Net gains on investments 75,000 ~75 DDD
NET INCOMEI(EXPENDITURE) 381,143 (83) 381,060
Transfers
between		 funds 16,002
Net movement
in funds		 397,145 (16,085) 381.060
RECONCILIATION OF FUNDS
Totai funds brought forward 1,132,056 40,671 1.172,726
TOTAL FUNDS CARRIED FORWARD ~1529200 24 586 ~1,553786
14. TANGIBLE FRED ASSETS
Improvements
to Fixtures
Freehold leasehold and Computer
ptope ny
f		 pmperty
f		 5tinge equipment
5		 Totals
F
COST
At 1 Apdil 2020
Additions		 1,190,526 39,282 64,041
~4930		 138,796
~37680		 'I,432,645
42,610
At 31March 2021 ~1190526 39,282 68,971 176476 ~l476 255
DEPRECIATION
At 1 April 2020
Charge for year		 875,276
7,856		 34,262
5,020		 33,2D2
10.703		 86,582
31.747		 1,D29,322
55 326
At 31 March 2021 883,132 39,282 43,905 ~118329 ~1084648
NET BOOKVALUE
At 31 March 2021		 307 394 ~25066 58147 390607
At 31 March 2020 ~315250 5,020 ~30 839 52214 ~403323

Listed
investments
MARKET VALUE
Additions
Rsvsllistlcns 100,500
2.779
At 31 March 2021 ~103279
NET BOOK VALUE
At 31iMarch 2021 103,279
At 31 March 202D
There were no Investment assets outside the UK.
Cost or valuagon st 31 March 2021 is mpressnted by:
Listed
investments
Vs!assoc in 2021
Cast		 2.779
100500
103,279
DEBTORS:AMOUNTS FALIJNG DUE WITHIN ONE YEAR
Prepsyments
and accrued		 income 2021
443,612		 2020
f
75066
CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
f		 2020
Bank laarw snd ovsrdrstls (sse note tg)
Trade creditors
Social secudty and other taxes
VAT
CNhsr creditors
Acciuals snd deferred
income		 5,048
6,750
17,872
21,916
7.019
149198		 4.673
16,74D
62,553
116037
207,803 ~200003
Included
within Accruals and deferred income above isthe fallowing		 deferred Income:
2021
f
Access toJustice Funding
Supporting
Justice Consultation
Additional
computer equipment		 —Witness
forALC		 32,850
88899		 25,022
4850
99882,

17. CREDITORS: AMOUNTS FAt.UNG DUE WITHIN ONE YEAR—sontinusd
The deferred income relates to income reoeived in advance ofenfiilement
18 CREDITOR8i AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Sank loans (see note I9) 2021
f
47,577		 2020
f
52,889
19. LOANS
An analysis ofths maturity ofloans is given belovr.
2021 2020
Amounts
felling due within one year on demand:
Mortgage loan 5048 4673
Amounts
falling due between two and five years:
Mortgage loan		 20 192 ~18 692
Amounts
falling due in more than five ysarsi
Repayable
by instalmenls:
Mortgage loan 27,385 34.197

IVIinimum
brass payments
under non~ncsfiabts		 IVIinimum
brass payments
under non~ncsfiabts		 operating leases fall due as follows; operating leases fall due as follows;
2021 2020
Within one year
Sstween one and five years		 5
7,214
4676		 31,522
11891
'l1,890 43,413
FINANCIAL INSTRUMENTS
Financial assets 2021
f		 2020
Financial assets that sra debt instruments
Financial assets measured at fair value		 measured at smorlised cost 1,848,067
103,27S		 1,616,119
Financial Sabillties 2021 2020
Financial
liablliTies measured st amorlissd
Financial
liabilities measured stfair value		 cost 21.5,592 238,152

2021 2020
Bank loans 5
52625		 57,562
The bank loan is secured by a first and only legal charge over the fmehafd property.
PROVISIONS FOR UABILTIES
2021 2020
Pension scheme funding 2
dslicit 109000 226,000
Provision
brought forward
Contributions
paid
Actuarial gain
Current service cast
Finance costs		 226,DOD
(162,000)
(23,000)
64,000
4OOO		 371,0DO
('I67,000)
(75,000)
89,000
8OOO
Provision carried forward 109000 226.000

Net Transfers
movement between At
At I/4/20 in funds funds 31/3/21
Unrestricted
funds		 6 f.
General fund 1,529,200 329.036 24,591 1,882,827
Restricted funds
MASDAP F2FWales
Phone Strategy
Implementation
MASCAP Contact Centre
Witness Service
Consumer
Senrice
Help to Cfaim - Pilot project
Welsh Gavemment
-Advice Mnk Cyrnru		 (630)
(8,534)
33,750		 630
9,859
19,068
15,205
23,815
1,713		 (7.859)
(278)
('f,713)		 2,000
10,256
15,205
57,565
(Remote Fund)
Welsh Government
—Advice		 Link Cymru 13,148 (274) 12,874
(Generalist Fund)
Welsh Government
-Advice		 Link Cymru 445 (445)
(Specfalist Fund)
Cidzens Advice
—Ertufpment
Grant
Community
Foundation
Wales - COVfD-19		 208
12,614		 (208)
(12,614)
Resilience Fund
The Moondance
Foundation		 1,200
~26359		 (1.200) 26,359
24,586 124264 ~24 591'} 124259
TOTAL FUNDS ~1553,786 453,300 2,007,086

Net movement
in funds,
included
in the above		 are as follows:
Incoming Resources Gains and Movement
Unrestricted
furrds		 resources
f		 expended
f		 losses In funds
General fund (136,383) 25,779 329,036
Restricted funds
Better Advice: Better Lives
Energy BestDeal - EXTRA
Penslonwise
MASDAP F2FWales
Phone Strategy Implementation
MASOAP Contact Centre
Witness Service
Consumer Service
Help toClaim- Pilot sst up costs
Help to Cktim - Pilot project
Welsh Government
-Advice Link Cymru
(Remote Fund)
Welsh Gcwernrnent -Advice Link Cymru		 15,618
21,198
120,2DQ
10,631
613,MO
732,537
337,571
90D,236
12,888
158,108
432,497		 (15,616)
(21.198)
(12D,209)
(10,001)
(603.741)
(713,489)
(322,358)
(876,421)
(12,688)
(156,395)
(4'I9,349)		 83D
9,859
19,068
15,205
23,815
1,713
13.145
(Generalist Fund)
Welsh Government
—Advice Link Cymru		 325,244 (324,799)
(Spec!eliot Fund)
Citizens Athdce -Consumer Service		 169,908 (169,700)
(Seams Awareness)
Welsh Government
-Advios Link Cymru		 30,167 (30,167)
(Debt Fund)
Citizens Advice - Equipment
Grant
Community
Foundation
Wales - COVID-19		 34,628
5,810		 (34,628)
8,'804		 12,614
Resilience Fund
Energy Redress Fund
Test &Leam
Welsh Government-
Voluntary
Service		 15,000
16,399		 (13,800)
(16,399)
(28,665)		 1,200
Recovery Fund
The Moondance
Foundation		 22,000
~28359		 (22,000) 26359
~4029,071 ~3904,807) 124,264
TOTAL FUNDS 4468711 J4.041,190) 25779 453,300

Nst Transfers
movement between At
At 1/4/19 in funds funds 31/3/20
Unrestricted
funds		 8 6 6
General fund
Designated
fund - Organlsadonal		 1,132,055 381,143 (333,998) 1,179,200
dave!opmsnt
Designated
fund - Asset management		 and 250,000 250.DOG
development 100000 100.GGG
Restricted funds 1,132,055 381,143 16.002 1,529,200
hlASDAP F2FWales
Phone Strategy Implementation
MASDAP Contact Centre
Witness Service
Consumer
Service
Help to Claim - Full service set up costs
Welsh Government
-Advice Link Cymru
(Rsmois Fund)		 21,832
18,839		 (630)
2,025
(7,1I5)
«5,928)
33,750
«8,839)
6,854		 (2,025)
«,'419)
(5.904)
~6654)		 (630)
(8,534)
4D 811 ~831 ~18DD2 24 888
TOTAL FUNDS 1 172726 ~381D60 1 553,786

A full valuation
ofthe Greater Gwent (Torfaen) Pension
Fund was carried out as et 31 March 2020,
March 2021. The major assumptions
used
in the valuation were:		 A full valuation
ofthe Greater Gwent (Torfaen) Pension
Fund was carried out as et 31 March 2020,
March 2021. The major assumptions
used
in the valuation were:		 A full valuation
ofthe Greater Gwent (Torfaen) Pension
Fund was carried out as et 31 March 2020,
March 2021. The major assumptions
used
in the valuation were:		 A full valuation
ofthe Greater Gwent (Torfaen) Pension
Fund was carried out as et 31 March 2020,
March 2021. The major assumptions
used
in the valuation were:		 A full valuation
ofthe Greater Gwent (Torfaen) Pension
Fund was carried out as et 31 March 2020,
March 2021. The major assumptions
used
in the valuation were:		 A full valuation
ofthe Greater Gwent (Torfaen) Pension
Fund was carried out as et 31 March 2020,
March 2021. The major assumptions
used
in the valuation were:		 A full valuation
ofthe Greater Gwent (Torfaen) Pension
Fund was carried out as et 31 March 2020,
March 2021. The major assumptions
used
in the valuation were:		 updated
io31
Rate ofincrease
in salades
Rate ofincrease
in pensions
Discount rats		 2021
3.2%
2.9%
2.0%		 2020
2.2%
L9%
2.3'Al
The split ofassets between investment categories is
2021 2020
Equitlss
Bonds
Property
Cash		 2,204,820
462,740
54,440		 81
17
2		 8
1,435,910
452/410
59.010
19,670		 73
23
3
1
Fair value ofplan assets
Present value ofscheme gabiliTiss
Deficit in the scheme		 2021
2,722,000
(2,831,000)
(109.000)		 2020
f
1,987,000
(2,193,000)
(226,000)
Amounts
included
within the income and expenditure		 account forthe year are:
2021 2020
Current service cost 5 .DM
Finance (incomeycosts
forthe year are:
Expected
return on assets		 2021
F
(47,000)		 2020
f
(49,000)
Interest on pension
iiablllges		 51,000 57,000

EMPLOYEE BENEFIT OBLIGATIONS -continued
Ffnance cost recognised in the Statement of Finandaf Activities
Statement ofrerxignissd gains/(losses);
2021 2020
Return
an assets
Change
In flnandal
assumptions
Change
in demographic
assumption
Other		 (574,000)
533,000
33,000
~15tNSi		 E
(179,000)
198,000
111,000
~55,000)
Actusnsl nst gain/(loss) ~25.DOO 76 tKO

2021 2020
5
INCOME AND ENDOWMENTS
Donations and legacies
Grants
Sundry donations		 166.714
30		 198,714
'f 453
166,744 198,167
Investment
income
Bank interest receivable 469 1,393
Chadtable
activities
Grants and contract funding 4,301,498 3,561407
Total Incoming resources 4,468,711 3,760,967
EXPENDITURE
Charitable
acthrities
Wages
Social security
Other pension casts
Rent, rates &service charge
Light &heat
Insurance
Repatrs &maintenance
(Induding
cleaning)
Stalf 8 volunteer
travel expenses
Pdntlng
&stationery
Telephone
&postage
Funding dawbacks
Reference matedals
&subscriptions
Other staff related costs
Depreciation
charges		 2,915,431
230,079
133,862
38,326
6,840
12,602
38,226
1,313
13.120
73,888
12,160
123.664
~39054		 2,428,112
186,346
145,760
49,043
21,137
8,989
58,033
25,069
11,289
69,403
34,861
22,829
6,563
~40949
3,643,565 3,106,373
Other
impairment
losses far tangible fixed assets		 (5,411)
Support costs
Staffcosts
Wages
Sodal security		 191,945
19,553		 179,838
16,569
Other pension costs 37362 38496
24S,861
Depreciation
Depreaiatian 16,272 12,752
Other costs
Rent, rates &service charge 3,331 4,266
Light &heat 595 1.838
Insurance 1,096 782
Carried forward 5,022 6,SSS
2021 2020
Other costs
Brought forward
Repairs 8 maintenance
(including
cleaning)
Staff6volunteer travel expenses
Pdnting
&stationery
Telephone 5postage
Staff&volunteer
training
Sundry costs (including
external
storage)
Recruitment
Bank charges
Other charges
Nlortgags
Interest
Other staff related caste
Refemnce materials
8 subscriptlons
Heatlh 8 safety costs
Psyrog fees, I-IR8 finance software
Irrecoverable
VAT
Finance costs ofdefined benefit pension
scheme
Interest cn pension scheme liabilities		 5,022
3,311
114
1,141
6,426
18,473
9,766
425
1221
533
2,182
9.383
1,057
626
27,177
36,575		 6,885
4,872
2,180
6,035
16,376
7,798
2,591
1,506
1,190
2,520
562
1,9SS
389
23,172
11,528
8,000
127,432 98,571
Governance costs
Auditors'
remuneration
Auditors'
remuneration
for ncn-audit
work
Costs ofbustees' meetings		 3,450
1,810		 3,450
4.269
~5060 ~7719
Total resouroes expended 4,041.190 ~3,454907
Net Income before gains and losses 427,521 306,060
Realised recognised gains and losses
Realised gainsigosses)
on lixed asset
investments
Actuarial
profit/(loss)
on defined benefit pension
schemes		 2,779
~23000		 75,000
Net Income 453,300 381060