REGISTERED COMPANY NUMBER: 04041962 REGISTERED CHARITY NUMBER: 108404S REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR CITIZENS ADVICE CAERPHILLY BLAENAU GWENT MHA Chartered Accountants and Slatulory Auditor Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS
CITIZENS ADWCE CAERPHILLY BLAENAU GWENT CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Report of the Independent Auditors 9 to 11 statement of Flnancial Activities 12 Balance Sheet 13 Cash Flow Statement 14 Notss to the Cash Flow Statement 15 Notes to the Flnancial Ststements 16 to 32
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the tharity for the year ended 31 March 2024. The trustees have adopted the provisions of Arxounting and Reporting by Charilies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Objects The principal activities of the charity in the peri¢)d under review were those of promoting any charitable purpose for the benefit of the whole communily in Caerphilly and Blaenau Gwenl County Boroughs and beyond by the advancement of education, the protection of health and the relief of povety, sickness and distress. The aim of the 2023 124 financial year was to take forward the objectives outlined in our current business plan and to continue to seNe our communilies across Caerphilly and Blaenau Gwent boroughs by.. Providing Ihe advice people need for the problems they face Improving the policies and practices that affect people's lives Aims, objectives, strategies and activities for the year C¢lizens Advice Caerphilly Blaenau Gwent aims to provide free, confidential. impartial and independent advice and information for the benefit of the local community. We also aim to exercise a responsible influence on the development of social policies to advan seNices that ensure individuals do not suffer through a lack of knowledge or an inability to express their needs effecttvely. Public benefit The organisation's trustees can confimi that they have had due regard to Public Benefit guidance published by the Charity Commission. Significant plans and activities that we undertook during the year thal demonstrate public benefit are set out under the Achievements and Performance section. The Business Plan covering 2023-26 identifies 4 strategic goal5= Our advice goal: We will improve the experience people have when they come to us for help and aspire to everyone leaving with the knowledge and confidenc£ they need to find a way fomard. Our advocacy and communications goal.. We will be a stronger voice on the issues that matter to the people who come to us for help. Our voice is heard more widely. Our sustainabilrly goal." We will secure our future as a servÈce Ihrough a more collaborative, proactive and competitive approach to fundraising. Our culture goal= We will be a collaborative. innovative and high-perfomiing service that promotes equality. diversity and inclusion and challenges discrimination. The principal activtty of Citizens Advi Caerphilly Blaenau Gwent remained the provision of free, confidential, independent and impartial advice, infomation and support for members of the public. This is provided through two offices in Bargoed and Risca and the multi<hannel contact ntre in Caerphilly. In addition to generalist advi the following specialist advice seNices were provided: Specialist advice in Welfare Benefit and Debt. Advice in mental health care settings. The provision of debt and financial capability advice to parties with diverse and specific issues. Energy advice to those experiencing or at risk of the consequences fuel poverty. Support to witnesses in the criminal justice syslem. Support to young people leaving care. Specialist advice lo those experiencing separation and other family issues. Specialist telephone advice on consumer issues.. and General advice and signposting lo services as part of our Advicelink programme. We are able to offer quality assured services across a range of channels including face-to-face, telephone, digital interaclions or at outreach venues in Caerphilly and Blaenau Gwent. Page 1
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Objectives and activities Criteria or measures to assess success A key-element of the Citizens Advice Membership Scheme is the requirement of every member to undertake an annual Leadership Self-Assessment {LSA) coveTsng the follow¢ng nine areas= Governance., Strategic business planning- Risk management., Financial management., People management., Operational performance management- Partnership working,. Research and campaigning", Equality leadership The assessment of the self-assessment is validated and approved by the National Citizens Advi service and any development outcomes are agreed in partnership with its members. As the LSA aligns with external standards, compliance also indicates compliance with the minimum requirements of the Advice Quality Standard {AQS), Money and Pension seice (MaPS) debt quality framework and the Information and advice quality framework for Wales (IAQFW). In 2023124. Citizens Advice Caerphilly Blaenau Gwent was rated 'green' in each of the nine LSA areas indicating eXlIent leadership. Charitable Activities As in previous years, we continued to play a significant role in the development of the national Citizens Advice servi. The Chief Executive is a member of a number of committees and wotking groups led by National Citizens Advice and Citizens Advice Cymru. Our trustees and staff SFt on a number of national committees and forums. We continue to support and contribute to a wide range of local meetings and fora concemed with social inclusion and community development. for example., Regional Advice Nerk Caerphilly Voluntary Sector Forum South Wales Financial Capability Forum We regard as it an important part of our role to use these fora to share infomation arising from the problems faced by the communities we sewe, so that local decision makers can (ievelop new policies that are eviden led. Regional and local involvement is critiGal to our success and matches the Social Policy aim and objective of the National Citszens Advice service. Key achievements during 2023124 - 8,794 clients raised 55,664 issues on Locavwales seNices and projects 7,997 calls dealt with by Ihe Advicelink Remote advice team 15,129 calls dealt with by the Claim Whal's Yours team 34,985 national ciients provided with telephone debt advi 6,920 National clients dealt with by the Help Through Hardship helpline - 27.610 calls and web chats handled by the Adviceline Contact Centre - 108,749 calls, web chats and emails handled by the Consumer servi Contact Centre 16,083 referrals to the Witness servi National Referral Hub - £4,955.663 income gained for clients £101,374,500 of problem debt handled £6.410,187 of problem debt written off by creditors 62% of local clients (and 39% of all clients) were people with disabilities or long-temi health conditions Page 2
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE In 2023124 we delivered several new and existing projects designed lo meet our charitable aims, as summatised below.. We continued to deliver.. the Welsh Governmenl Single Advice Fund funded Advicelink Cymru project. including Specialist Debt and Benefits Advice and Generalisl Advice both locally and, via our contact cenlre, across Ihe whole of Wales; the Caerphilly CBC Let's Talk Money debt, benefits and financial capability Servi,. Energy Advice, funded by the Moondance Foundation and National Grid, helping residents of Caerphilly and Blaenau Gwent rnake the most of their energy usage- the DWP funded Help to Claim service assisting people to make Iheir firsl Universal Credit daim,. In partnership wilh Citizens Advice in Torfaen and Newport, the Aneurin Bevan University Health Board funded Mental Heallh Welfare Rights Service which provides a service to Users of ABUHB menlal health services.. the Gwenl Asso¢ialion of Voluntary Organisations funded service to participants in their Communities 4 Wotk scheme.. the WG funded Basic Income Pilot scheme working with the leaving care teams in Caerphilly and Blaenau Gwent councils to provide financial capability support to care leavers,. and from July 2024 we used our own reserves to deliver Family Law advice to clients who find themselves ineligible for legal aid, but unable to pay for privale advice. Our contact cenlre delivers seven main services.. Citizens Advice fund an advice service to callers to the national AdViline helpline; The Money and Pension Service funds specialist debt advice by telephone, web chat and email lo clients from England; Citizens Advice fund advice to dienls calling the national Consumer AdVIline Service. The CFtizens Advice Witnes5 Service Referral Hub provides support lo people giving evidence in the criminal justice system: Welsh Government funds a generalist and specialist telephone advice seNice. We deliver in partnership with Citizens Advice Cardiff & Vale., Welsh Government also funds the Claim What's Yours benefit take-up campaign". the Trussell Trust funds the Help Through Hardship service targeting people using or in need of food banks. Investment policy As iequired in its Memorandum paragraph 4.17, in furtherance of its objects. and for no other purposes, the Company has the power to invest the monies of the Company nol immediately required for its purposes in or upon such investments, securities or property as may be thought fit, subject nevertheless to such conditions and such consents as may for the time being be imposed or required by law. Key performance Indicators Citizens Advice Caerphilly Blaenau Gwent works to a wide range of KPIS agreed with its various funders and appropriate to the se1$ funded. In 2023124 we mel or exceeded the great majority of our funder KPIS. Page 3
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Financial position In summary we would like to presenl the headlines from our financial accounts, where further detail can be found in the Statement of Financial Activity. This has been another successful year for the charity financially where we have increased our revenue and exercised effeclive controls to ensure that all funded programs realised their financial cost. We are also pleased to continue to increase our reserves and manage them effectively via some new designated provisions in the acunts. The headlines from the financial accounls are as follows.. Income has increased to £6.826,764 compared lo £5.684,172 in the previous financial year. Of the total income £4,137,825 was restrtcted funds and a further £2,688,939 was unrestricted Unrestricted reserves have increased by £893,289 since the previous financial year. Besides a separate fund for the pension scheme assel, we have now assigned four Designated Funds: 1. £250,000 has been Designated for Organisational Development to allow for future growth and any polential restructure of the charity- 11. a further £100.000 has been Designated to maintain our infrastructure including our propety at Church Place. 111. a further £200,000 has been Designated to support self funded projects and IV a further £19,500 has been Designaled lo support the famity advice SeiCe Our expenses profile is carefully monitored via our budget management systems wtth 93OA of all costs devoted to front line seNice delivery. Other headlines relating to our costs are as follows- We have paid a further £99.000 in the year towards our Defined Benefit Pension scheme to manage the deficit based on Actuarial calculations. This repayment amount was agreed for a 3 year term. Staff cosls remain one of our biggest expenses accounhng for just over 89 A of our total profile of costs. This includes pension costs and other supplementary costs of staffing and management. The balance sheet is reporting cash at bank of £2,278.033 and a further £538,303 is held in CCLA investment accounts Reserves policy In accordance with good corporate govemance and Charity Commission guidelines, the charity has always maintained a minimum level of free reseNe5. Charity Commission guidelines stress that there is "no single level. or even a range of. reseNes that is right for all charities" Any target set for the level of reserves to be held, should reftect the organisations particajlar Circumstan$. CACBG wishes to move away from a simplistic approach based upon three six months of operating costs towards a target reserve level bespoke to our exposure and risk as an organisation. The chaFily holds reserves for a number of reasons- - They help provide short-term cash flow to allow expenditure to be incurred ahead of income being reIved. They can provide contingency to help mitigate the impact of unexpectedlunforeseen expenditures., Ihey assist budget management, by allowing pressures to be dealt with. or investment in ServIS made, whilst a longer-tem solution is found., and they can help commitments to be met in the event of a cessation of funding. The charity recognises that strategic and financial planning informs the development of our reserves policy. Effective risk management is key to this entire pro$$. Alongside a review of our internal financial management, the Board has recently re-evaluated its existin9 reserves policy having considered, in particular, the following: The level of reserves is appropriate for the Current size and complexty of the organisation given our Significant growth over recent years. The increasing level of reseNes required to cash flow our projeds on a quartedy basis lo ensure the continuance of service delivery. We need scope to manage short term budgetary issues on a day to day basis, especially given the growing proportion of our funding that is received in arrears. The need to protect the organisation against the immediale impact of funding changes. The need to cover unforeseen or unavoidable costs. The need to move swiftly to exploit opportunities as and when they arise. The need to cover ongoing IT and equipment-based investment. The need to cover Our Stalutory and other commitments should the organisation ase to operate. The need for a reseNe budget to cover project costs should be we in a posilion where fvll cost recovery is not possible. Page 4
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Prlncipal funding sources The Welsh Government: Advicelink Cymru - Generalist & Specialist Advi - Advicelink Cymru - Remole telephone service Claim What's Yours - Benefit tske-up Campaign Basic Income Pilot National Citizens Advice.. - Adviceline National Back-up Help Through Hardship - Consumer Service - The MaPS Debt Advi Service - Witness Service Help to Claim - Warmer Wales11 Caerphilly CBC: Core ServIS and outreach Levs Talk Money Blaenau Gwent CBC.. - Core seNices and OLrtreach Aneurin Bevan University Health Board.. Mental Health Welfare Rights SeNice Gwent Association of Voluntary Organisations - Communities for Work Funds in deficit No funds were in significant deficit at the balance sheet dale. FUTURE PLANS In order to work towards our Vision, Aims and Values, we have identified five strategic goals which will underpin everything we do until 2026. Our advice goal: We will improve the experience people have when they come to us for help and aspire to everyone leaving with the knowledge and confidence they need to find a way forward. Our advocacy goal: We will be a stronger Vol on the issues that matter most to the people who come to us for help. Our sustainability goal: We will secure our future as a service through a more collaborative. proactive and competitive approach to fundraising. Our culture goal: We will be a collaborative, innovative and high-performing service that promotes equality. diversity and inclusion and challenges discrimination. The Strategic Plan is supported by an Operational Plan and a series of AGtion Plans that set out in delail the steps that we will take over the next three years. The Action Plans include.. - Service Delivery Team Plans - Research and Campaigning Action Plan - Communications Plan Workforce Development Plan All the work that we do in moving towards achieving our five strategic goals will be underpinned by a number of supporting functions: - Governance Quality assurance - Performance management - Compliance Each of the supporting functions will be assigned a number of annual continuous improvement objectives, which will be monitored and reported to the Board. Page 5
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Citizens Advice Caerphilly Blaenau Gwent is a registered charity and a company limited by guarantee. The maximum liabilily of each member is limited to one pound. The organisation is governed by its Memorandum and Articles of Association as amended in July 2012. Citizens Advice Caerphilly Blaenau Gwent was incorporated as a company limited by guarantee on 27 July 2000. Recruitment and appointment of new trustees Trustees. who are also direclors of the company, are individuals who have an interest in furthering the work of the charity and are mainly drawn from the local area. A separale process agreed by the Trustee Board is followed for the election of the Chair. Organisational structure Citizens Advice Caerphilly Blaenau Gwent has a Trustee Board of up lo 15 members who meet quarterfy and are responsible for the strategic direction and policy of the tharity. At present the Board has 9 members who bring a range of skills to the organisation. Ed Evans Mostyn Davies Glyn Jones Gordon Pankhurst Colin Mann Tudor Davies Julia Rose Steve Skivens Jackie Dix Phyllis Howls Karolina Maika Steve Evans Gareth Coombs Chair Depuly Chair Treasurer Resigned 30 October 2023 Elected Resigned 15 October 2024 Resigned 29 September 2023 Elected Elected Elected Elected Resigned 8 December 2023 Appointed 20 June 2024 The role of Company Secretary is filled by the Chief Executive who attends Board meetings but has no voting rights. A schedule of delegation is in place and day to day responsibility for the organisation resls with the Chief Executive supported by a management team. The Chief Executive is responsible for ensuring that the temis of contracts and other funding agreements are adhered to and that all key performance indicators are met. The members of the Senior Management Team have responsibility for the day to day operational management of all seNices and line management of staff. Overall responsibility for the management of CFtizens Advice Caerphilly Blaenau Gwent rests with the Trustee Board which is responsible for setting the strategic direction of the organisation and the policies of the charity. Board members are charity trustees and company directors. The trustees carry the ultimate responsibility for the conduct of Citizens Advice Caerphilly Blaenau Gwent and for ensuring that the charity satisfies its legal and contractual obligations. Truslees meet as a minimum quarterly and delegate the day-to-day operation of the organisation to senior management. The Trustee Board is independent from managemenl. A register of members, interests is maintsined at the registered office and is available to the public. Summary of Responsibilities Operational responsibility ft)r the seNice lies with the Chief Executive who is based in the Bargoed offi. Financial and HR management is provided by Ihe Resources Manager and Senior Finan Officer, who are also based in Bargoed. Day-to-day line management of local Servi is the responsibility of the Operations Manager. The Head of Digital Operations has responsibility for all contact centre services. - There are tsvo main offices operating in Bargoed and Risca and a mulli-Ghannel contact centre in Caerphilly. Citizens Advice Caerphilly Blaenau Gwent offers a range of service delivery methods including. open door in our main offiS and at outreach venues, appointments. telephone, letter, email and webchal advice. We offer home visits for specific projects and client groups. There are approximatety 10 volunteers, excluding trustees. Funding for the core service comes predominantly from Caerphilly and Blaenau Gwent local aulhorFties. The Chief Executive's salary is reviewed periodically and is sel by the Finan and Personnel Committee of the Trustee Board. Salaries of other senior managers are reviewed periodically and are set by the Finan and Personnel Committee of the Trustee Board in consultation with the Chief Execulive. Page 6
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT In setting salaries, the committee has regard lo comparable third-sector salaries and advertised local Citizens Advice salaries in particular. Inductlon and tralning of new trustees Newly appointed trustees are provided with a comprehensive induction to Citizens Advice Caerphilly Blaenau Gwenl through the provision of written induction materials. training courses and mentoring by established trustees. Related parties Citizens Advice Caerphilly Blaenau Gwent is a member of Citizens Advice, which provides a framework for standards of advice and casework management as well as monitoring progress against Ihese standards. Operating policies are independently determined by the Truslee Board of Citizens Advice Caerphilly Blaenau Gwent in order to fulfil its haritable objects and comply with the national membership requirements. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04041962 Registered Charity number 1084045 Registered office 1-2 Church Place BARGOED Caerphilly CF818RP Trustees The following people were directorsltrustees of the charity during the year.. Date became director 18103r2021 0310912001 2711012011 1811212001 2910412004 12110r2002 2610712012 0810212018 2510712013 0111212022 01112r2022 0111212022 2010612024 Date of resignation Directorsrfrustees Edward Evans Mostyn Davies Glyn Jones Tudor Davies Gordon Pankhurst Steven Skivens Colin Mann Jackie Dix Julia Rose Phylis Howls Karolina Majka Steve Evans Gareth Coombs Role Chair Wice Chair Treasurer Status Elected Elecled Elected Elected Elected Elected Elected Elected Elected Elected Elected Elected Elected 1511012024 30110r2023 15110r2024 2910912023 Chief Executive: Simon Ellington Senlor Management Team: Jane Waters (Resources Manager) Lisa McLain (Operations Manager) Ceri Morgan {Operations Manager) Company Secretary: Simon Ellington Auditors MHA Chartered Accountants and Statutory Auditor Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS Page 7
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Bankars Unily Trusl Bank PLC Nine Brindleyplace BIRMINGHAM BI 2HB 8arclays PLC 14 Commèrcial Street NEWPORT NP20 1HE STATEMENT OF TRUSTEES, RESPONSIBILITIES The Iw51ees (who ale also Ihe direclors ol Citizens Advice Caarphilly Blaenau Gwent for the purposes of company law) are responsible lor preparing the Report of tha Tiuslees and the financkil slalemanis In acGordance wrflh applicabte law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). Company law requires the Iruslees lo pr8pare financial slalemenls for each financial year lch glve a true and fair view of ihe stalè of affairs of the ¢haJilable company and ol the incoming resour¢es ènrl applicalion of resour¢es, including the income and expenditur8. ol the charitable cornpany for that pèriod. In preparing those finall¢ial sla16ments, the Iruslees are required lo 5elecl suilable accounling polioe5 and then apply Ihern consistently- obseive the methods and prinaples in the Charily SORP., makejudgérnenls end eslirnales Ihal are reasonable and prudent., prepare the IinanL¥al statements on the golt¥g coneem basis unless il Is Inapproprlale lo presuma Ih81 the ¢haiilabl8 company will conlinue in bu51ness. The trustees are responslble for keeping proper accotsnting records which disclose with reasonable ae¢uraey al any Iln Ihe financial po*lion ol the thafilablo company and lo onable them lo ensure th81 the finan¢k21 s131ements comply w41h the Companles kn12006. Thèy #ré also responsible for safÉouarding Ihe assels of the charllable company and hence for laklThJ reasonab steps forlhe prevention and detection of fraud and other I8glaritIe$. In so far as Ihe ITUSt8es are awaie.. Ih8r8 is no relèwanl audit Infomallon of whith tha ch81ilable company's avdilo¥s are unaware- and the tfU5tees have taken all steps Ihal they ought lo have iaken lo make themselves 316 ol any relevant audll informalion and to establish that Ihe auditors are aware of that infomiallon. Approved by order oflhe Board ofTnJslees on ..l(t..Iy.cw...2Ak..- and slgned on its behalfby.. Ed Evans". Tnjslee Pa9e 8
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Opinion We have audited the financial stalements of Citizens Advice Caerphilly Blaenau Gwenl (the 'charilable company,) ft)r the year ended 31 March 2024 which comprise Ihe Statement of Financial Activities, the Balance Sheet, the Cash Flow Slatemenl and noles lo the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards {United Kingdom Generally ACpted Accounting Practice). In our opinion the financial statements: give a true and fair view of the slate of the charitable company's affairs as at 31 March 2024 and of its incoming reSoUrS and application of resources, including ils income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally AcpIed Accounling Practice., and have been prepared in accordance wilh the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance wFth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our olher ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that Ihe trustees. use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that. individually or collectively. may cast significant doubt on the charitable company's ability lo continue as a going concem for a period of at least twelve months from when the financial statemenls are aulhorised for issue. Our responsibililies and the responsibililies of the trustees with respect lo going conrn are described in the relevant sections of this report. Other information The tnjstees are responsible for the other infomiation. The other infonnation comprises the infomiation induded in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial stalemenls does not cover the other information and, except to the extent otherwise explicit staled in our report. we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial statemenls, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with Ihe financial statements or our knowledge obtained in the audit or otheNiise appears to be malerially misstated. If we identify such malerial inconsislencies or apparent material misslatements. we are required to determine whether this gwes rise to a material misslatement in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material rnisstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 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 information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements,- and the Report of the Trustees has been prepared in a¢ctsrdan with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtsined in the course of the audit, we have not identified material misstalements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you rf, in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been reIved from branches not visÈled by us,. or the financial statements are nol in agreement with the accounting records and retums; or certain disclosures of trustees. remuneration specified by law are not made., or we have not received all Ihe information and explanations we require for our audit., or the Irustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Tnjstees. Page 9
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Responsibilities of trustees As explained more fully in Ihe Statement of Trustees, Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial slatements and for being satisfied that they give a twe and fair view, and for such inlemal control as the trustees detemine is necessary to enable the preparation of financial statements that are free from material misstalement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to conlinue as a going concern, disclosing. as applicable, matters related to going COnM and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease 0ratiOnS, or have no realistic alternative bLrt to do so. Our responslbllities for the audit of the financial ststements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that indudes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misslatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance wtth laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect malerial misslatements in respect of irregularities. including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities. induding fraud is detailed below: We evaluated management's incenlives and opportunities for fraudulent manipulation of the financial statements (induding the risk of override of controls) and delemined that the principal risks were related to posting inaccurate joumals. We addressed these tisks by carrying out specifically targeted procedures, which included: Enquiries of management, those charged with govemance around actual and potential litigation and claims; Performing audit work over the risk of management override of controls. induding testing of joumal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business. Reviewing minutes of meetings of those charged with governan. Evaluating the reasons for any large or unusual transaclions., Reviewing ffinancial statement disclosures and testing to supporting documentation to assess Complian with applicable laws and regulations. Because of the inherent limilations of an audit there is a ti5k that we will not detect all iegulaTIties, induding those leading io a material misststement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements as we will be less likely lo become aware of instances of non-complian. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud invofves intentional CA)ncealment, forgery, collusion. omission or misrepresentations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting CounGil's website at www.frc.org.ukJaudilorsresponsibilities. This description foms part of our Report of the Independent ALtditors. Page 10
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Use of our report This report is made solely to the charitable company's members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit worf( has been undertaken so that we might stale lo the charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accepl or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Julia Mortimer FCCA (Senior Statutory Auditor) for and on behalf of MHA Chartefed Accountants and Statutory Auditor CARDIFF CF23 8RS Date: 2O..la&knk.....20 MHA is the trading name of Maclntyre Hudson LLP, a limited liability partnership in England and Wales {registered number OC312313) Page11
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 232.917 232,917 185,329 Charitable activities Generalist advice Specialist advi 2,446,734 3,613,411 524.414 6.060,145 524,414 5,170,268 328.575 Investment income 9,288 9,288 Total 2.688,939 4,137,825 6,826,764 5,684.172 EXPENDITURE ON Charitable activities Generalist advi Specialist advice 2,085,910 52,481 3,985,775 6,071,685 52,481 4,913,750 312,403 Total 2,138,391 3,985,775 6.124.166 5,226.153 Net gains on investments Actuarial gains on pension 68,741 274.000 68,741 274,000 8.342 677,000 NET INCOME 893.289 152.050 1.045,339 1,143,361 RECONCILIATION OF FUNDS Total funds brought foNard 3,385,532 412,665 3,798,197 2,654.836 TOTAL FUNDS CARRIED FORWARD 4,278,821 564.715 4.843.536 3,798.197 The notes fomi part of these financial statements Page 12
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT BALANCESHEET 31 MARCH 2024 2024 Total funds 2023 Total funds Unreslricled funds Reslricled funds Notes FIXED ASSErs Tangible 2sse18 Inveslmenls 14 15 437.214 536.303 437.214 538,303 422.293 975,517 975.517 891,855 CURRENT ASSETS ebtor8 CB5h al bank 16 510,449 1801388 88,070 476 645 598.519 2 278 033 473,OOQ 1781216 2,311,837 564.715 2,876,552 2,254,216 CREDITORS Amounls falliro due wlhln one year 17 1507.5331 {507.5331 {385,8741 NET CURRENT ASSETS 564.715 2.369 019 1868 342 TOTAL ASSETS LESS CURRENT LIABILITIES 2.779,821 564.715 3.344,536 2,760.197 PENSION ASSET 20 1,499,OQO 1,499.000 1,038,000 NET ASSETS 4 278.821 564.715 4,843.536 3 798,197 FUNDS Unreslricied funds Reslricted ful$ 19 4,278.821 4.715 3,385,532 412665 TOTAL FUNDS 3.798 197 These financial stalements have been prepared in 8¢cordance with the provisions applicable lo charitable cDmpanies subject lo the small MpanIeS reyime. The financial slalements were #pprovod by fhe 8oard of TIu51ees and aulhorised for ?ssue on .IG. l.Ikl.laa¢tr....... .. and were sluned on ils ljehalf by.. es- Trustee The note5 fom) part of these flnancial 8talements Page 13
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flovm from operatlng activities Cash generated from operations 565.970 152.256 Nel cash provided by operating activities 565,970 152,256 Cash flows from investing activities Purchase of tangible fixed assets Purchase of fixed asset investments Interest received {78,441) (98,764) (350,000) 9,288 Net cash used in investing activities 69.153) 448,764) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 496.817 (296,508) 1,781.216 2,077,724 Cash and cash equivalents at the end of the reporting period 2.278.033 1,781,216 The notes form part of these financial statements Page 14
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reporting per40d (as per the Ststement of Flnancial Activities) Adjustments for: Depreciation charges Gain on investments Interest received Increasel{decrease) in provisions Increase in debtors Increase in creditors 1,045,339 1.143,361 63,520 {68.741) {9,288) (461.000) 1125.519) 121659 59,137 (8.342) (774,000) (361,629) 93,729 Net cash provided by operations 565,970 152.256 ANALYSIS OF CHANGES IN NET FUNDS At 114123 Cash flow At 3113124 Net cash Cash al bank 1,781.216 496,817 2.278.033 1.781,216 496.817 2,278,033 Total 1.781,216 496,817 2.278,033 The notes fomi part of these financial statements Page 15
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATUTORY INFORMATION Citizens Advice Caerphilly Blaenau Gwent is a registered charity and private company limited by guarantee having no share capital. Members have agreed to contribute £1 in the event of a winding up. The company is incorporated in Wales in the United Kingdom and its registered office is 1-2 Church Place, Bargoed, Caerphilly. CF818RP. The nature of the company's operations and principal activilies is disclosed within the Report of Ihe Truslees. The financial statements are presented in Sterling {£), the company's functional currency, and rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consislently applied lo all years presented unless olhetwise stated. ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Slatement of Recommended Practice applicable to charities preparÈng their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. with the exptIOn of investments which are included at market value, as modFfied by the revaluation of certain assets. There have been no malerial departures from the standard. Going ¢oncem No material uncertainties exist relaling lo evenls or conditions that may cast significanl doubt upon the entity's ability to continue as a going concem. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. This includes capital grants. Donations and legacies income includes donations, gifis and grant5 that provide core funding or are of a general nalure are recognised where there is enlitlement. probability of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor specifies it must be used in future accounting periods, or the donor has imposed conditions which must be met before the charity has unnditiOnal entitlement. Income from charitable activities includes income received under contrdct or where entitlement to grant funding is subject to specific perfomance conditions. This income is recognised where there is entitlement, when the receipt is probable, and the amount can be measured reliably. Income is deferred when the amounts received are in advance of the performan of the Servi or event to which they relate. Other trading activities is recognised as the related services are provided and there is entitlement, probability of receipl and the amo¢Jnt can be measured with sufficient reliability. Income is deferred when the amounts received are in advance of the delivery of the seNice or event to whith it relates. Investmenl income is recognised on a receivable basis. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commilting Ihe charity to that expenditure, it is probable that a transfer of economic benefits will be required in selllement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost felaled to the category. W7ere cosls cannot be directly attributed to particular headings they have been allocated to activities on a basis ¢onsistent with the use of resources. Page 16 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Expenditure Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and seryices for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them. Support costs are those costs Ihat, whilst necessary to deliver an activity, do not themselves produ or constibjte the OLrtput of the charitable activity. This indudes governance costs which are those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountsncy fees and costs linked to the strategiG management of the charity as well as a proportion of salaries based on an approximation of time spent in this aa. Expenditure indudes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Allocation and apportionment of costs All costs are allocated between the expenditure categories on a basis designed to reltect the use of Ihe resource. Costs relating to a particular activity are allocated directly- olhers are apportioned on an appropriate basis. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its eslimated useful life. Freehold property Improvements to leasehold property Fixtures and fittlngs Computer equipment 2Q/ts & 10% oncost in accordance with the lease straight line over 15 years 2Yo & 2/ll on cost Fixed assets are initially recorded al cost. Only assets which cost £500 or more are capitalised. Investments Investments are included at market value at the balance sheet date. Realised and unrealised gains or bsses on investments are shown separately on the face of the statement of financial actNities. Investment income is recognised on a receivable basis. Taxation The cha¢ity is exempt from corporation tax on its charitable adivities. Pension costs and other post-retirement benefits The charity is part of a multi-employer defined benefit pension scheme. Rates are set by the scheme actuary. This scheme is being accounted for under FRS102, with the annually calculated notional surplus or defictt on the funding of the scheme shown in the accounts as part of unrestricted funds The trustees note that the calculated notional deficit or Sufplus calculated under FRS102 can vary greatly from year to year depending on the assumptions made at the valualion date, but with nomially little or no effect upon short tem cashtlows. This scheme was closed to new entrants during 2007108. The charity contributes to the personal pension schemes of some of its employees. Contributions payable to the schemes are charged to the profil and loss account in the period to which they relate. Operating lease agreements Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain wÈth the lessor are charged against profils on a straight line basis over the period of the lease. The benefits of lease incentives are recognised in the statemenl of financial activities over the lease period. Basis of recognition of liabilities Liabilities are recognised as soon as there is a legal or ¢onslructive obligation which commils the charity to the expenditure. Page 17 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Operattng lease agreements Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds. Designated funds Designated funds are unrestricted funds eamiarked by the board for particular purposes. Restrlcted funds Restricted funds afe to be used for specific purposes as laid down by the donor. Expenditure, which meets these criteria, is charged to the fund, together wilh a fair allocation of support and govemance costs. Financial Instruments The charity only has financial assels and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instwment5 are initially recognised at transaction value and subsequently measured at their settlement value. Debtors with no stated interest rate and receivable within one year are recorded at transaction price. An losses arising from impaiment are recognised in expenditure. Prepaymenls are valued at the amount prepaid net of any trade discounts due. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event Ihal will probably result in the transfer of funds to a third paty and the amount due to settle Ihe obligation can be measured or estimated reliably. Creditors and provisions are notmally recognised at their settlement amount after allowing for any trade discounts due. Significant accounting judgements and estimates Estimates and judgements are continually evaluated and are based on historical experience and other relevant factors. including expectations of future events that are believed to be reasonable under the Circumstan$. The preparation of the finanaal statements requires management to make estimates and assumptions conmIng the future. The resutting accounting estimates will. by definition. be likely to differ from the related actual results. No estimates or assumptions have been identified that have significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year. DONATIONS AND LEGACIES 2024 2023 Grants Sundry donations 216.714 16,203 183.381 1,948 232,917 185,329 Grants reIved, included in the above, 8re as follows: 2024 2023 Caerphilly County Borough Council - core fijnding Blaenau Gwent County Borough Council - core funding 136,714 80.000 136,714 46.667 216.714 183,381 Page 18 continued.
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 INVESTMENT INCOME 2024 2023 Bank interest receivable 9,288 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Grants and contract funding Generalist advice Grants and contract funding Specialist advice 6,060.145 524.414 5,170,268 328,575 6.584.559 5.498,843 Further analysis of grants and contract funding= Unrestricted Restricted Tolal Funds Funds Funds 2024 Total Funds 2023 Access Partnership Access to justi Foundation - HALS Aneurin Bevan University Local Health Board Citizens Advice - Energy Advice Programme Citizens Advice - Increasing Capacity Citizens AdVI- Phone Stralegy Implementation Cilizens Advice- Witness Service Cilizens Advice - Consumer Service CitizerFs Advice - Consumer SeNice (Energy) Citizens Advice - Consumer Service {Scams Awareness) Cilizens Advice - Help Through Hardship Cittzens Advice - Help to Claim.. Full service delivery Caerphilly County Council - Confident with Cash (Let's Talk Money) Cost of Living - Sub Grant Gwent Association Voluntary Organisations - Communities for Work MASDAP - MaPS - Contact centre MASDAP - MaPS - Webchat MASDAP- MaPS- Helpline MASDAP- MaPS- Debt Advi Hub MASDAP- MaPS- NDL MASDAP- MaPS- DRO Hub MOOndan Foundation Welsh Council for Voluntary Action - Kickstart Welsh Government- Advice Link Cymru (Claim What's Yours) Welsh Govemmenl - Advi Link Cymru (Remote fund) Welsh Government - Advice Link Cymru (Generalist fund) Welsh Government- Advice Link Cymru (Debt fund) Welsh Government - Advice Link Cymru {SpecFalist fvnd) Welsh Government- Basic Income Pilot 21,000 13,350 21.000 13.350 69.715 144,000 26,700 69,715 50,000 35,356 379.098 331.695 1.079.896 56,243 69,715 144.000 399.000 364,063 895.929 341,331 399,000 364.063 895.929 341.331 15,547 475,123 281,442 281,442 173,536 173.536 132,181 218.103 10,000 218,103 10,000 206,953 15.000 44,810 44.810 44,0¢ 461,952 175,417 195,086 266,086 1.489,186 650,441 9.289 1,489,186 650,441 9.289 62,219 62.219 47.450 13,315 275,023 275.023 366,492 451,598 451,598 438.847 355,165 355,165 338,252 185,539 185,539 176,704 37,809 92,011 37.809 92,011 36.011 65,724 2.446,734 4,137,825 6,584,559 5.498,843 Page 19 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 7) Support costs (see note 8) Totals Generalist advi Specialist advice 5,516,851 554.834 52,481 6.071.685 52.481 5,516,851 607.315 6,124,166 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Rent, rates & service charge Light & heat Insurance Repairs & maintenance (induding cleaning) Staff & volunteer travel expenses Printing & stationery Telephone & poslage Reference malerials & subscriplions Other slaff related costs Fuel voucher costs Depreciation 4,977.727 77,997 24,575 17.394 49,048 44.048 18.049 146,867 8,876 38,831 55.000 58,439 4,371.607 57,512 15.554 15,491 36.738 5,862 13,438 141,520 6,167 25,724 50,000 45.902 5.516.851 4,785,515 SUPPORT COSTS staff costs Other costs Governance costs Deprecialion Tolals Generalist advice Specialist advice 436,226 37.727 4.677 405 97.739 12.948 16,192 1,401 554.834 52.481 473,953 5.082 110,687 17,593 607,315 The charity allocates its support costs as shown in the lable and then further apportions those costs beeen the charitable activities undertaken. Support costs are allocated on a basis consistent with the use of resources based on the number of employee hours spenl in each area. NET INCOMEI(EXPENDITUREI Net incomel(expenditure) is staled after chargingl{crediling)= 2024 2023 Auditors, remuneration Auditors, remuneralion for non-audit work Depreciation - owned assets Auditors, remuneration - other financial services 5,729 7,395 63,520 4,800 5,754 59,137 650 Page 20 continued..-
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 10. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 Mardi 2024 or for the year ended 31 March 2023. Trustees, expenses During the year no expenses were paid to tTUStees. (2023: £Nil) 11. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 4,800,672 421.677 229.331 4,108,310 346,419 216,825 5.451.680 4.671.554 The average monthly number of employees during the year was as follows.. 2024 11 2023 Number of administrative staff Number of management staff Number of supervisors & team leaders Number of caseworkers l advisers Number of training & recruitment Number of other staff 18 172 13 168 218 204 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60.000 was". 2024 2023 £60,001- £70.000 £80,001- £90,000 The total key management personnel remuneration benefits during the year was £341.422 (2023 - £259,228). The amount of redundancy costs I temiination paymenls paid during Ihe year totalled £10.000 (2023 - £4,767). 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 185,329 185,329 Charitable activities Generalist advice Specialist advice 557,754 4.612.514 328,575 5,170.268 328,575 Totsl 743,083 4,941,089 5.684,172 EXPENDITURE ON Charitable activities Generalist advice Specialist advice 179.319 312,403 4,734,431 4,913,750 312,403 Page 21 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted funds Restricted funds Total funds Total 491,722 4,734,431 5,226,153 Net gains on investments 685.342 685,342 NET INCOME Transfers between funds 936,703 17,694 206.658 17,694) 1,143,361 Net movement in funds 954,397 188,964 1,143,361 RECONCILIATION OF FUNDS Total funds brought forward 2,431,135 223,701 2,654,836 TOTAL FUNDS CARRIED FORWARD 3,385,532 412.665 3,798,197 13. FINANCIAL INSTRUMENTS 2024 2023 Financial assets Financial assets that a debt instruments measured at amortised cost Financial assets measured at fair value 2,278,033 561.367 2,217.792 469,562 2024 2023 Financial liabilities Financial liabilities measured at amortised cost Financial liabilities measured at fair value 253,897 302,477 Financial assels measured at amortised cost comprise cash at bank and accrued income. Finanual asset5 measured at fair value comprise fixed asset investments. Financial liabilities measured at amortised cost comprise trade credilors, other creditors and accruals. Page 22 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 14. TANGIBLE FIXED ASSETS Improvements to leasehold property Fixtures and fittings Freehold propety Computer equipmenl Totals COST At 1 April 2023 Additions 1,190,526 21,954 53,697 34.748 108,335 21,739 270.272 1,622,830 78,441 At 31 March 2024 1,212,480 88,445 130,074 270,272 1,701,271 DEPRECIATION At 1 April 2023 Charge for year 896,132 6,500 42.026 5.610 68,092 14,305 194,287 37,105 1,200,537 63.520 At 31 March 2024 902 632 47,636 82.397 231392 1,264.057 NET BOOK VALUE At 31 March 2024 309,848 40.809 47,677 38.880 437.214 Al 31 March 2023 294.394 11,671 40.243 75.985 422,293 A professional valuation of 1-2 Church Place was completed in June 2018. This valuation resulted in a property impairment expense of£817.778 in 2018 and an additional impaimient of£47.748 in 2019. 15. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1 April 2023 Revaluations 469,562 68,741 Al 31 March 2024 538,303 NET BOOK VALUE At 31 March 2024 538.303 At 31 March 2023 469,562 2024 2023 Historical cnst of investments 450,500 450,500 There were no investment assets outside the UK. Cost or valuation at 31 March 2024 is represented by-. Listed investments Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuation in 2024 Cost 2,779 7,941 8,342 68,741 450,500 538,303 Page 23 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments and accrued income 598,519 473,000 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Social security and other taxes VAT Other creditors Accruals and deferred income 90,307 129,996 227.812 59,418 68.397 143.674 173,803 507.533 385,874 Included within accruals and deferred income above is the following deferred income.. 2024 2023 Access to justi Funding Blaenau Gwent- core funding 15,0(Ki 33,333 33.333 15,000 Deferred income relates to grant funding received in financial year which relates lo the following financial period. The prior year deferred income balance was released in full to the SOFA during the year. 18. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 2024 2023 Within one year Between one and five years 31,375 51,603 30,455 12.411 82.978 42.866 Page 24 continued.
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS Net movemenl in funds Transfers betweèn funds At 3113124 At 114123 Unrestricted funds General fund Designated fund- pension Designaled fund - Organisational development Designated fund - Asset management and development Designated fvnd - Self funded projects Designated fund - Family advice service 1.997,532 1,038,000 615,289 278,000 (402,500) 183,000 2,210,321 1,499,000 250,000 250.000 100,000 100,000 200,000 19,500 200,000 19,500 3,385.532 893,289 4.278,821 Restricted funds Phone Strategy Implementation Consumer Service Welsh Government - Advice Link Cymru (Remote Fund) The MOOndan Foundation Citizens Advice - Energy Advice Programme Citizens Advice- Help Through Hardship Gwent Association Voluntary Organisations Communities for Work Welsh Government- Advi Link Cymru - Claim What's Yours Access to Justice Foundation - HALS Citizens Advice- Basic Income Pilot Citizens Advice - Consumer servi - Energy Access Partnership 88.914 15,184 22,494 (8,760) 111,408 6,424 26,462 15,040 18.610 3,633 45,072 18.673 89.000 9.518 89.000 67,478 57.960 7.261 7.152 14,413 178,577 3,237 971 (122,393) {3.237) 15,431 56,184 16,402 19,059 106,940 13,662 125,999 13.662 412,665 152,050 564.715 TOTAL FUNDS 3.798.197 1.045.339 4,843.536 Page 25 continued..
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS - continued Net movement in fijnds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fvnd Designated fvnd - pension 2,688.939 (2,142.391) 4,000 68,741 274,000 615.289 278,000 Restrlcted funds Phone Slfategy Implementation Witness Service Consumer Setvice Welsh Government- Advi Link Cymru (Remote Fund} Welsh Government- Advice Link Cymru {Generalisl Fund) Welsh Government- Advi Link Cymru (Specialist Fund) Welsh Government- Advice Link Cymru (Debt Fund) The Moondance Foundation Citizens AdV[- Energy Advice Programme Help to Claim - Full service delivery Citizens Advice - Help Through Hardship Gwent Association Voluntary Organisations Communities for Work Welsh Government- Advice Link Cymru - Claim What's Yours Access to Justice Foundation - HALS Citizens Advice - Basic Income Pilol Citizens Advice - Consumer servi - Energy Access Partnership 399,000 364.063 895,929 (376,506) {364,063) (904,689) 22,494 (8.760) 451,598 (432,988) 18,610 355,165 (355.165) 37,809 (37,809} 185,539 62,219 (185,539) (58.586) 3.633 144.0 173,536 281.442 (55.000) (173,536) (271,924) 89,000 9.518 44,810 (37,658) 7,152 275.023 13,350 92,011 (397,416) {16,587) (76,580) (122.393) {3.23n 15.431 341.331 21,000 (234,391) 106,940 13.662 4,137,825 3,985,775 152,050 TOTAL FUNDS 6 826,764 6.124,166 342,741 1.045,339 Page 26 continued.
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers beeen funds At 3113123 At 114122 Unrestricted funds General fund Designated fund- pension Designated fund - Organisational development Designated fund - Asset management and development 1,817,135 264,¢XIO 312,703 624,000 (132,306) 150,000 1,997,532 1,038,000 250,000 250,000 100,000 100.000 2.431.135 936,703 17,694 3,385.532 Restricted funds Phone Strategy Implementation Consumer SeNice Welsh Government- Advi Link Cymru (Remote Fund) The Moondance Foundation Help to Claim - Full service delivery Citizens Advice- Help Through Hardship Gwent Association Voluntary Organisations - Communities for Work Welsh Govemment- Advice Link Cymru - Claim What's Yours Access to justi Foundation - HALS Citizens Advice - Basic Income Pilot Citizens Advice - Consumer Service - Energy 71.224 4,066 17,690 15.434 88,914 15,184 (4,316) 23,827 8,788 13.269 10,018 2.635 6.252 (13,269) 54,949 26,462 15,040 (7.007) 57,960 7,261 7,261 92,509 91.689 3,237 1,721 (5.621) 178,577 3,237 971 (750) 19.059 19,059 223,701 206,658 17.694 412,665 TOTAL FUNDS 2.654.836 1.143.361 3,798.197 Page 27 conlinued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows= Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund Designated fund - pension 743,083 (438,722) (53,000) 8,342 677,000 312,703 624.000 Restrfcted funds Phone Strategy Implementation Wrtness Service Consumer Service Welsh Governmenl - Advice Link Cymru (Remote Fund) Welsh Government - Advice Link Cymru (Generalist Fund) Welsh Government- Advice Link Cym (Specialist Fund) Citizens Advice- Consumer Service (Scams Awareness) Welsh Government- Advi Link Cymru (Debt Fund) The Moondance Foundation Cilizens Advice - Energy Advice Programme Help to Claim - Full service delivery Citizens Advi - Help Through Hardship Citizens Advice- Increasing Capacity Gwent Association Voluntary Organisations ~ Communities for Work Welsh Council for Voluntary Action - Kickstart Welsh Government - Advice Link Cymru - Claim What's Yours AC5$ to Justi Foundation - HALS Citizens Advice - Basic Income Pilot Cilizens Advice - Consumei SeNice- Energy Money and Pensions SeNice - Webchat Money and Pensions SeNice - Conlact Centre Money and Pensions servi - Helpline 379,098 331,695 1.079,896 (361,408) (331,695} (1,064,462) 17,690 15,434 438,847 (436,212) 2.635 338.252 (338,252) 36,011 (36,011} 15.547 (15.547) 176,704 47,450 (176.704) (41,198) 6.252 50.000 132,181 475.123 35,356 (50,000) (145.450) (420,174) (35.356) (13,269) 54,949 44,000 {36,739) 7,261 13,315 (13.315) 366,492 26,700 65,724 {274,803) {23,463) {64,003) 91.689 3.237 1,721 56.243 175,417 (37.184) (175.417) 19.059 461,952 195.086 (461.952) 195,086) 4 941.089 4,734,431 206,658 TOTAL FUNDS 5,684.172 5.226,153 685,342 1,143.361 Restricted funds Phone Strategy Implementation (PSI) Funded by Citizens Advice, for the provision of tier one phone seNices of an Adviceline Specialist Provider. Consumer Service Following a stringent tendering process, we were successful in securing funding to establish and deliver one of five Consumer Service conta¢1 cenlres. Our team take calls on a dedicated consumer helpline number and provide information advi and support to members of the public with consumer issues. We work closely with Trading Standards and many callers are referred Ihrough to their lo¢al trading standard Offir. Adviceline Cymru - We have a contract with Citizens Advice Cymru to deliver bilingual national Adviceline team leader support to paid assessors in LCA across Wales with the aim of improving the quality of their telephone advice seNIs. Page 28 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS - continued Moondance Foundation The Moondance Foundation fund provides charities with an opportunity to work on projects Ihat drive transformational ¢hange across Wales and our local communily. MASDAP Webchat I Contsct Centre l Helpllne This is a Money Advice SeNice Funded Debt Advice Project in partnership with Citizens Advice. This project funds a team of11.5 full time equivalent employees, based at our Caerphilly call centre, who provide initial advice to callers to Ihe national AdvIrine helpline Energy Advice Programme Funding towards supporting energy cost crisis by distributing pre-paymenl fuel vouchers to residents of Caerphilly County Council in fvel poverty, and by offering energy advice to recipients of this scheme. Ensuring holistic advi is offered to resident of Caerphilly County Council where specific need is recognised, e.g debtl welfare benefits advice. Help through Hardship A national Citizens Advice project funded be the Trussell TTUSt. The aim of the service is lo help people or households facing hardship to maximise their income. Our advisers also help to identify the need for wider advice (such as debt, immigration or housing. for example) directing people to specialist onward support. GAVO - Communities for Work A project to provide dedicated adviser time to people in Blaenau Gwent seeking to improve their employability with the support of the Communities for Work team. Claim Whafs Yours Claim What's Yours is a Welsh Government campaign aimed at getting people to check whether they are in re[pt of all Ihe benefft income they are entitled to. Access to Justice Foundation - HALS Funding specÈfically towards a free, impartial advice seNice. providing advice and support to clients who cannot afford to pay for advice and who are not eligible for legal aid. Baslc Income Pilot A Project designed to work wilh local authorities and ServIS to provide advice to young persons regarding basic income. evaluating whether they are eligible to daim, and whether it would be beneficial for them to claim basic income or remain with other funding I payments. Consumer Service- Energy Funded by Citizens Advice for Ihe provision of information and energy advi and support to members of the public with consumer issues Access Partnership Funding from Advicelink Cymru to work with access andlor referral partners Wtlhin Iheir region and use the funding to develop closer working relationships with partner organisations and generate InCaSed inward referrals from regional partners, in order to make the existing provision of Advicelink Cymru se1viS more a¢SSIble to clienls in the specified regional target groups. Desl nated funds Organisational Development We have made provision for the ongoing Organisational Development of the organisalion that could be used to meet our charilable objectives. This provision can be used where there is a business need to commission a project or new role that will help us reach out to a wider community of service users. Alternatively, this fund can be used to reshape the organisation as the funding landscape shifts so that we can redistribute resources of all nature and demonstrate agility. Infrastructure Fund We have a number of physical assets that we will develop as we continue to meet OLsr aims and objectives. The Designated Fund for Infrastructure has been plad into the accounts to manage upcoming developments to our systems, premises or other platforms that allow frjr the growth of our services. Page 29 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS - continued Self Funded Projects The charity has a number of projects that will need to be funded internally rathèr than via external funding, as such we have set aside £200,000 to assist with funding these projects by ensuring funds are set aside. Family Advice Service We have set aside £19.500 to assist with funding of the family advice service, where additional expenditure is expected to be incurred that has not been funded extemally. Restricted funds relatin to the rior Citizens Advice- Increasing Capacity Funding from the Money and Pension Service to increase the level of resource available in the Debt Advice Contact Centre. ear Help to Claim (Pilot proJecUset up costs) Funded by The Department for Work and Pensions (DWP), via Citizens Advice the provision of Help to Claim. This project is aimed to support dienls in the eady stages of a Universal Credit claim, from the application through to first payment. Help to Claim delivered across multi-channels to increase accessibility and meet support need. This includes face to face support and phonelwebchat that is delivered through a single national queue with a national Help lo Claim dedicated phone line WCVA - Kickstart The Kickstart Scheme provided funding to employers to creale jobs for 16 to 24 year olds on Universal Credit. We took parl in the scheme wlth WCVA as the lead body. Witness Service This project is funded by the Ministry of Justice via CilFzens Advice. The project provides free and independent support for both prosecution and defence witnesses. Seryiced from our Caerphilly contact centre, our leam provide practical infomialion about the prOss, as well as emotional support lo help witnesses feel more confident when giving eviden. Consumer Service (Scams Awareness) Funded by Cilizens Advi for the provision of infomialion and advice and support to members to increase awareness of potential scams relating to consumer issues. Transfers between funds Transfers relale to restricted funds used to purchase fixed assets. Provided the expending of the fijnd meets the restrictions placed by the funders a transfer is made from the restricted fund to Ihe general fund. An analysis of the transfers is provided below.. Fixed assets purchased Overspendl (Underspend) Total transfer Basic Income Pilot Citizens Advice - Consumer Service Citizens Advice - Help Through Hardship Advi¢elink Cymru- Claim aVS Yours 1750) {4,316) (7,007) 5.621) {750) (4,316) (7,007) 5.621 17.694 17,694 An additional transfer was made of £219,500 from unreslricled funds to designated funds to set up new designaled funds, detailed in funds note above. Page 30 onlinued.
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 20. EMPLOYEE BENEFIT OBLIGATIONS The Charity is part of a multi*mployer. funded, defined benefits scheme. The scheme is part of the Greater Gwent fforfaen) Pension Fund. The charge for the year. against which employer contributions were paid over lo the scheme, amounted to £183.000 (2023 - £150,000), together with the actuarial gain on the scheme for the year of £274,000, {2023 £677,000) are recognised in the Slatement of Financial Activities in arxordance with FRSI02. A full valuation of the Greater Gwent 0rfaen) Pension Fund was carried out as at 31 March 2019, updated to 31 March 2024. The major assumptions used in the valualion were.. 2024 3.30/¢ 2.8% 2023 3.5% 3.0/0 Rate of increase in salaries Rate of increase in pensions Discount rate The split of assets beeen investment categories is.. 2024 2023 Equities Bonds Property Cash 2.573,720 591,260 208.680 104.340 74 17 2.422.930 521.390 92,010 30,670 79 17 2024 2023 Fair value of plan assets Present value of scheme liabilities Surplus l (Deficit) in the scheme 3,478,000 (1,979,000) 1,499,000 3.067,000 {2,029,000) 1,038,000 As at 31 March 2024 the charttable company was reporting a pension asset of £1499.000 (2023: £1,038,000) Amounts included wÈthin the income and expenditure account for the year are= 2024 2023 Current service cost 48.000 62.000 Finance (income)Icosls for the year are.. 2024 2023 Expected return on assets (146,000) 183,000) Interest on pension liabilities 94,000 74.000 Finance cost recognised in Ihe Statement of Financial Activities 52,000 9.000 Statement of recognised gainsl(losses}'. 2024 2023 Return on assets Change in financial assumptions Change in demographic assumption Other 247,000 70,000 11.000 54,000 (100,000) 781.000 6,000 10,000) Actuarial net gainl{loss) 274,000 677,000 The charity made contributions of £182,923 {2023 - £154.634) to the pension plans of employees during the year. At the year end Ihere were contributions of £Nil outstanding (2023 - £Nil). Page 31 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 21. RELATED PARTY DISCLOSURES During the year, Ihe Aneurin Bevan University Local Health Board provided an unrestrtcted grant of £69,715 {2023-. £69,715). Glyn Jones is a trustee of Citizens Advice Caerphilly Blaenau Gwent, as well as being a director of the Aneurin Bevan University Local Health Board. At 31 March 2024 there was accrued income of £13,943 (2023: £13,943). Page 32