REGISTERED COMPANY NUMBER: 04041962 REGISTERED CHARITY NUMBER: 1084045 Report of the Trustees and Financial Stalements for the Year Ended 31 March 2025 CITIZENS ADVICE CAERPHILLY BLAENAU GWENT MHA Slalulory Auditor Elfed House Oak Tree Court Cardiff Gale Business Parf( CARDIFF County of Cardiff CF23 8RS
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2025 Pagg Report of the Trustees 1 to 10 Report of the Independent Auditors 11 to 12 Statgmgnt of Financial Artivitigs 13 Balance Sheet 14 Cash Flow Ststement 15 Notes to the Cash Flow Statement 16 Notes to the Financial Statements 17 to 32 Detailed Statement of Financial Activities 33 to 34
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report wth the financial slalemenls of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191. OBJECTIVES ANO ACTIVITIES Objects The principal activities of the charrty in the period under review were those of promoting any charitable purpose for the benefit of the whole community in Caerphilly and Blaenau Gwent County Boroughs and beyond by the advancement of education, the protection of health and the relief of poverty, sickness and distress. The aim of the 2024 125 financial year was to take forward the objectives outlined in our current business plan and to continue to serve our communities across Caerphilty an(J Blaenau Gwent rOugh$ by.. providing the advice people need for the problems they face improving the poliryes and practices that affect people's lives. Aims, objectives. strategies and activities for the year Citizens Advice Caerphilly Blaenau Gwent aims lo provide free. confidential. impartial and independent advice and information for the benefit of the local community. We also aim lo exercise a responsible influence on the development of social policies lo advance services that ensure individuals do not suffer through a lack of knowledge or an inability to express their needs effectively. Public benefit The organisation's trustees can confirm that they have had due regard lo Public Benefit guidance published by the Charity Commission. Significant plans and activities that we undertook during the year that demonstrate public benefit are sel out under the Achievements and Perfornian section. The Business Plan covering 2023-26 identifies 4 strategic goals.. Our advice goal- We will improve the experience people have when they come to us for help and aspire lo everyone leaving with the knowledge and confidence they need to find a way forward. Our advocacy and communications goal.. We will be a stronger voice on the issues Ihal matter to the people who come lo us for help. Our voice is heard more widdy. Our sustainability goal.. We will secure our future as a Servi through 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 activity of Citizens Advice Caerphilly Blaenau Gwent remained the provision of free, confidential, independent and impartial advice, infomialion and support for members of the public. This is provided through two offices in Baigoed and Risca and the multi-channel cont8Ct centre in C8erphilly. In addition to generalist advice the following specialist advice services were provided= Specialist advice in Welfare Benefit and Debt. Advice in mental health care setbngs. The provision of debt and financial capability advice to individuals and families with multiple issues. Energy advice lo those experiencing or al risk of the Consequen fuel povety. Support to witnesses in the criminal justice system. Support to young people leaving care. Specialist advice to those experiencing separation and other family issues. Specialist telephone advi on consumer issues., and General advice and signposting to ServIS as part of our Advicelink programme. We are able to offer quality assured services across a range of channels including face-tfaCe, telephone, digital interactions or 8t outreach venues in C8erphilly and Blaerkgu Gwent. Page 1
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025 OBJECTIVES ANO ACTMTIES Objectives and activities Criteria or measures to assess success A key-elemenl of the Citizens Advice Membership Scheme is the requirement of every member to undertake an annual Leadership Self-Assessment ILSA) covering the following eight are8s= Govem8nce', Strategy and planning., iiil Risk management and compliance- iv) Financial governance.. People management- vil Operational perfomiance- viiil Research and campaigning.. ixl Equity, diversity and inclusion. The assessment of the self-assessment is validated and approved by the National Citizens Advi ser and any development oulcomes are agreed in partnership with its members. As the LSA aligns with exlemal standards. comFliance also indicates compliance with the minimum qUirementS of the Advice Quality Standard {AQSI, Money and Pension Service (M8PSI debt quality framework and the Information and advice quality framework for Wales {IAQFW)- In 2024125, Citizens Advice Caerphilly Blaenau Gwenl was rated 'green' in each of the 8 LSA areas indicating excellent le8dership. Contribution of Volunteers Volunteers are the vital the backbone of our organisation as they help to meel our charitable aim to reach as many people in our community as possible. Volunteering ran lake several forms in our chartty, including administration, advice, and advocacy. As trustees we also help, support, and share essential knowledge that helps Citizens Advi Caerphilly Blaenau Gwenl to exceed ils charitable objecb'ves. Our volunteer programme allowed us lo offer specific, individual support in surrounding areas that would otherwise be hard lo reach, so that we can continue to support individuals in isolated areas. where a¢sS lo infomiation may be limited. We have dedicated support and supervision plans in place to fully support our volunleers Ihat tskes the form of specific supervision, training plans and policies. Page 2
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025 ACHIEVEMENT AND PERFORMANCE Charitable Activities As in previous years, we continued to play a significant role in the development of the national Citizens Advice service. The Chief Executive is a member of a number of committees and working groups led by National Citizens Advi and Citizens Advice Cymru. Our trustees and staff stt on a number of national committees and forums. We continue to support and contribute to a wde range of kThl meetings and fora concemed with social inclusion and community development, for example.. - Regional Advice Network Caerphilly Voluntary Sector Forum South Wales Financial Capability Forum We regard it as an imFx)rtanl part of our role to use Ihese fora lo share infomialion arising from the problems fad by the communities we serve, so that local decision makers can develop new policies that are evidence led. Regional and local involvement is crrtical to our susS and matches the Socwl Policy aim and objecb.ve of the National Cib"zens Advi service. Key achievements during 2024125 .913 clients raised 54.923 issues on L¢xallWales services and projects 7.997 calls dealt with by the Advicelink Remote advice team 15.129 calls dealt with by the C18im What's Yours team 34,985 national clients provided with telephone debt advice 6,920 National dienls 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 SetV1 Nali(ffial Referral Hub - £7.604,456 income gained for clients - £101,374,500 of problem debt handled - £6.410,187 of problem debt written off by creditors 66°/o of local cliernls land 46¥• of all dienlsl were people with disatililies or long-temi health conditions In 2024125 we continued to deliver a range of projects designed to meet our charitable aims. as summarised below.. We continued lo deliver.. the Welsh Government Single Advi Fund funded AdVilink Cymru project, induding Specialist Debt and Benefits Advice and Generalisl Advice both locally and, via our contact ntre. across the whole of Wales- the Caerphilly CBC Let's Talk Money debt. beneffits and ffinancial capability service., Energy Advice, funded by the Moondance Foundation and National Grid, helping residents of Caerphilly and Blaenau Gwenl make the most of their energy usage., the DWP funded Help lo Claim service assisting people lo make their first Universal Credit claim: In partnership with Citizens Advice in Torfaen and Newport, the Aneurin Bevan University Health Board funded Mental Health Welfare Rights servi which provides a service to users of ABUHB mental health services., the Gwent Association of Voluntary Organisations funded Servi lo participants in their Communities 4 Work scheme., the WG funded Basic In(x)me Pilot scheme working with the leaving care teams in Caerphilly and Blaenau Gwent councils lo provide financial capability support lo care leavers- and from July 2024 we used our own reserves to deliver Family Law advi(* to clients who find themselves ineligible for legal aid, but unable to pay for private advi. Our contact centre delivers seven main setV1.. Citizens Admce fund an advice servi(E to callers to the Tlational Adviceline helpline- The Money and Pension Service funds speryalist debt advi by telephone, web chat and email to dienls from England., Citizens Admce fund advice to clients calling the national Consumer Adviceline Service. The Citizens Advice Witness Service Referral Hub proMdes support to people giving eviden in the criminal justice system., Welsh Govemmenl funds a generalist and specialist telephone advice service. We deliver in partnership with Citizens Advice Cardiff & Vale., Welsh Govemmenl also funds the Claim Whal's Yours ner11 lake-up campaign- The Trussel Trust funds the Help Through Hardship service targeting people using or in need of food banks. Page 3
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025 Investment Policy As required in its Memorandum paragraph 4.17. in furtheran ol ils objecis, and for no other purposes, the Company has the power lo invest the monies of the Company not immediately required for ils purposes in such investments, securities or propety as may be thought fit. subject to such conditions and such c4)nsents as may from time to time be imposed or required by law. Key perfomian¢e Indicators Citizens Advice Caerphilly Blaenau Gwent works to a WKJe range of KPIS agreed with ils various funders and appropriate to the servi$ funded. In 2024125 we met or exceeded the great majority of our fvnder KPIS. Staff costs The Real Living Wage is a voluntary rate, set by the Living Wage Foundation, that is higher than the UK Govemment's What is Ihe real Livin Wa Livin Wa e Foundation The Real Living Wage increased by 10% for the 2023124 year, wth the new UK-wide rate becoming £12.00 per hour. The increase aims to provide low-paid workers with a wage Ihat rellects the true cost of living. As members of the Real living wage foundation. The Finance & Personnel Committee held on 08 February 2023, made the following recommendation. The committee recommended that we continue lo commit lo the annual Living Wage Foundation increase110°10 - £166,770k cost increase} and apply a 3°h differenliabon increase lo all non LWF staff along with a 40/0 Cost of Living increase {£333.600 cnst increase) with effect from 01 April 2023. The recommendation from the Finance & Personnel Committee regarding the CLI from 1st April 2023 was presented and approved by the Trustee Board on 23rd March 2023. The Cost of Living increase was implemented on 01 April 2023. Page 4
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025 FINANCIAL REVIEW Financial position In sutnmary we would like to present the headlines from our financial a[oU, where further detail can be ft)und in the statement of Financial Activity. This has been another successful year for Ihe charity financially where we have increased our revenue and exercised effective controls to ensure that all funded programs realised their financial cost. We are also pleased lo continue to increase our reserves and manage them effectively via some new designated provisions in the accounts. The headlines from the financial accounts are as follows.. Income has increased to £6.842,316 compared to £6,826,764 in the previous financial year. - Of the total income £3.735.149 was reslricled funds and a further £3.107.167 was unrestricted Unrestricted reserves have increased by £416.429 since the previous financial yeaf. We have assigned four Designated Funds in total= 1. £250,000 has been Designated for Organisational Development to allow for future growth and any potential restructure of the charity., 11. a further £100,000 has been Designated to maintain our infrastructure including our property at Church Place. 111. a further £200,000 has been Designated to support self funded projects and IV £1,945.000 has been Designated relating to value of the pension scheme asset. Our expenses profile is carefully nitored via wr budget management systems with 89 /0 of all costs devoted to front line setvice 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 lem. Following the scheduled Actuarial Tri-annual review, we will be provided with an updated pension liability position, which will indude any required secondary contribution rate for the period 2023 -2026. staff costs remain one of our biggest expenses accounling for just over 89 /0 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 £1.471.966. current asset investments of £500,000 and a further £524.709 is held in CCLA investment accounts. Resgrv9s Policy In accordance with good corporate governance and Charity Commission guidelines, the charity has always maintained a minimum level of free reserves. Charity Commission guidelines slress Ihat there is "no single level. or even a range of, reserves that is right for all charities.. Any target set for the level of reserves to be held. should reflect the organisations particular circumstsnces. CACBG wishes to move away from a simplistic approach based upon three six months of operating costs towards a target reserve level bespoke lo our exposure and risk as an organisation. The charity holds reserves for a number of reasons.. - They help provide short-lerm cash flow to allow expenditure to be incurred ahead of income being received. They can provide contingency lo help mitigate the impact of unexpecledlunforeseen expenditures., they assist budget management, by allowing pressures to be dealt with. or investment in setvices made, whilst a longer-term solution is found.. and they can help commitments to be met in the event of a ssation of fvnding. The charity reeognises that strategic and financial planning infoms the development of our reserves policy. Effective risk management is key lo this entire process. Alongside a review of our inlemal finanaal management, the Board has rentlY reevaluated ils existing reserves wlicy having considered. in parbcular, Ihe following.. The level of reserves is appropriate ft)r the current size and (x)mplexity of the organisation given our significant growth over recent years. The increasing level of reserves required lo cash flow our projecis on a quarterty basis lo ensure the continuance of service delivery. We need scope to manage short term budgetary issues on a day lo day basis, especially given the growing proportion of our funding that is received in arrears. - The need lo protect the organisation against the immediale impact of fvjnding changes. - The need lo cover unforeseen or unavoidable cosls. - The need to move swifdy to exploit opportunities as and when they arise. - The need to cover ongoing IT and equipmenl-based investment. - The need tr) cover our stalulory and other commitments stK)uld the organisation cease lo operate. The need for 8 reserve budget to (x)ver project costs should be we in a position where full cost recovery is not possible. Page 5
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025 FINANCIAL REVIEW Principal funding sources The Welsh Governmen1= - Advicelink Cymm - Generalist & Specialist Advic - Advicelink Cymm - Remote telephone service - Claim What's Yours - Benefit take-up campaign Basic Income Pilot National Citizens Advice= Adviceline National Back-up Help Through Hardship - Consumer Service - The MaPS Debt Adwce Service - Witness Service Help lo Claim Warmer Wales11 Caerphilly CBC= - Core ServIS and outreach Lel's Talk Money Blaenau Gwenl CBC.. - Core servi$ and outreach Aneurin Bevan University Health Board= Mentsl Health Welfare Rights Service Rhymney Valley Foodbank Funds in deficit No funds were in significant deficit at the balance sheet date. FUTURE PLANS In order to work toward5 our Vision. mS and Values. we have Klentified four strategic goals which TMII underpin everything we do until 2026. Our advice goal: We will improve the experien people have when they wme to us for help and aspire to everyone leaving with the knoedge and Confiden they need to find a way forward. Our advocacy goal.. We will be a stronger Vol on the issues that maller most to the people who come to us for help. Our sustainability goal.. We will secure our future as a Servi through a more collatorative, proactive and compelilive approach to fundraising. Our culture goal- We will be 8 collaborative, innovative and high-performing semce that promoles equality, diversity and inclusion and challenges discrimination. The Strategic Plan is supported by an Operational Plan and a series of Action Plans that set out in detail the steps that we will lake over the next three years. The Action Plans include.. Service Delivery Team Plans Research and Campaigning Action Plan Communications Plan workfor Development Plan All the work that we do in moving towards achieving our four strategic g081s wll be underpinned by a number of supporting ftjnctions.. Goveman Qualty assurance Perfomiance management Compliance Each of the supporbng functions will be assigned a number of annual conkn"nuous improvement objectives, which will be monitored and reported to the Board. Page 6
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document Citizens Advice Caerphilly Blaenau Gwenl is a registered charity and a company limited by guarantee. The maximum liability of each member is limited to one pound. The organisation is govemed by its Memorandum and Artides of Association as amended in July 2012. Citizens Advice Caerphilly Blaenau Gwenl was incorporated as a company limited by guarantee on 27 July 2000. Rgcruitment and appointment of ngw Irustees Trustees. who are also directors of the company. are individuals who have an interest in furthering Ihe worf( of the charity and are mainly drawn from trbe local area. A separate prsS agreed by the Trustee Board is followed for the election of the Chair. Page 7
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Or9anisational structure Citizens Advice Caerphilly Blaenau Gwent has a Trustee Board of up to 15 member5 who meet quartedy and are responsible for the strategic direction and FX)licy of Ihe charity. Al present the Board has 12 members who bring a range of skills lo the organisation. Ed Evans Moslyn Davies Glyn Jones Colin Mann Tudor Davies Steve Skivens Jackie Dix Phyllis Howls Karolina Majka Gareth Coombes Damian VEard Gerard Donovan Chair Deputy Chair Treasurer Elected Resigned 15.10.2024 Resigned 15.10.2024 Elected Elected Elected Elected 20.06.2024 Elected (%.03.2025 Elected c.03.2025 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 lo day responsibility for Ihe organisalion rests with the Chief Executive supported by 8 management team. The Chief Executive is responsible for ensuring that the terms of contracts and other funding agreements are adhered to and that all key performance indicalors are met. The members of the Senior Management Team have responsibility for the day lo day operational managernent of all Servi and line managetnent of staff. Overall responsibility for the management ol Cilyzens 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 ft)r the conduct of CilEens Advice Caerphilly Blaenau Gwenl and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet as a minimum quartedy and delegale the day-ttrday operation of the organisalion lo senior management. The Trustee Board is independent from management A register of members, interests is maintained at the registered office and is available to the public. Summary of Responsibilities Operational resFY)nsibility for the service lies with the Chief Executive who is based in the Bargoed office. Financial and HR management is provided by the Resour Manager and Senior Finan Offir, who are also based in Bargoed Day-to-day line management of local service is Ihe responsibility of the Operations Manager. The Head of Digital Operations has responsibility for all contact centre servIs. There are two main offices operating in Bargc*d and Risca and a multi-channel contact centre in Caerphilly. Citizens Admce Caerphilly Blaenau Gwent offers a range of servi(E delivery methods including, open door in our main offices and al outreach venues, appoinlments, telephone, letter, email and webchat advice. Vve offer home visits for specific projects and client groups. There are approximately 6 volurnteers, excluding trustees. Funding for the core service comes predominantly from Caerphilly and Blaenau Gwenl l(Kal authorities. The Chief Executive's salary is reviewed n(mlCally and is set by the Finance and Personnel Committee of the Trustee Board. Salaries of other senior managers are reviewed periodillY and are set by the Finan and Personnel Committee of the Trustee Board in consultation with Ihe Chief Execulive. In setting salaries, the committee has regard to comparable third-sector salaries and adverbsed local Citizens Advice salaries in particular. Induction and training of new trustees Newly appointed trustees are provided with a comprehensive induction to Citizens Advice Caery)hilly Blaenau Gwent through the provision of written induction malerials. Iraining courses and mentoring by established trustees. Related parties Citizens Advice Caerphilly Blaenau Gwenl is a member of Citizens Advice. which prowdes a framework for standards of advice and casework management as well as monitoting progress against these standards. Operating policies are independently detemiined by the Trustee 808rd of CitEens Advice Caerphilly Blaenau Gwent in order lo fulfil its charitable objects and compty with the natsonal membership requirements. Page 8
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE ANO ADMINISTRATIVE DETAILS Registered Company nurnber 04041962 (Not specifiedlotherl Registered Charity number 1084045 Registered offiee 1-2 Church Place BARGOED Caerphilly CF81 8RP Trustees The following people were directorsltrustees of the charity during the year. Date became dirgdor 1810312021 0310912001 2711012011 1811212001 1211012003 2610712012 0810212018 0111212022 0111212022 0610312025 2010612024 0610312025 Date of resignation Directorsrrrustees Edward Evans Moslyn Davies Glyn Jones Tudor Davies Steven Skivens Colin Mann Jackie Dix Phyllis Howls Karolina Majka Damian Vizard Gareth Coombes Gerard Donovan Rolg Chair Vice Chair Treasurer ststus Elected Elected Elected Elected Elected Elected Elected Elected Elected Elected Elected Elected 1511012024 1511012024 Chief Executive: Simon Ellington (to 30 April 2025) Ashley Comley (from 1 May 20251 Senior Management Team: Jane Waters (ResoUrS Manager) Lisa McLain (Operalions Manager) Ceri Morgan (Operations Manager) Company Secretary: Ashley Comley Senior Ststutory Auditor Rachel Doyle ACA DChA MHA Statutory Auditor Elfed House CARDIFF CF23 8RS Bankers Unity Trust Bank PLC Nine Brindleyplace BIRMINGHAM B12HB Barclays PLC 14 Commercial Street NEWPORT NP20 1 HE Page 9
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUSTEES. RESPONSIBILlEs The trustees (who are also the directors of Citizens Adwce Caerphilly Blaenau Gwent for the purposes of company lawl are responsible for preparing the Report of the Trustees and Ihe financial statements in accordance with applicable law and United Kingdom AcuntIng Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charitable company and of the incoming resources and appli¢tIon of resources, including the income and expenditure. (rf the chari18EAe company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consislentty.. observe the melhtxls and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent- prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose wilh reasonable accuracy al any time the financial position of the charitable company and to enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitsble company and hence for taking reasonable steps for Ihe prevention and deleclion of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit informalion of which the charitable company's auditors are unaware; and the trustees have taken all steps that they ought to have taken to make thernselves aware of any relevant audit information and lo establish that the auditors are aware of that infomiation. 17 December 2025 Approved by order of the Board of Tnjstees on ............................................. and signed on its behalf by= E EV£(17. 2025, 10..33aml Page 10
Report of thg Indepgndgnt Auditors to the Members of Citizens Advice Caerphilly Blaenau Gwent Opinion We have audited the financial statements of Citizens Advice Caerphilly Blaenau Gwent (the 'charitable company'l for the year ended 31 March 2025 which MpriSe the Statement of Financial Aclivib'es. the Balance Sheet, the Cash Flow Statetnent and notes to the financial statements. including a surnmary 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 Accepted A(OUnting Practice). In our opinion the financial statements= give a true and fair view of the slate of the charitable mpanY'S affairs as at 31 March 2025 and of its incoming resources and application of resources. including its income and expenditure, for the year then ended., have been propedy prepared in accordan with United Kingdom Generally Accepted AontIng Pradice,. and have been prepared in aOrdanCe wilh the requirements of ihe Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing IUKI IISAS IUKII 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 with 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 other ethical responsibilities in accordance with these requiremenls. 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 the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied. we have not identified any material UnrtaInlieS relating to events or conditions that. individually or collectively, may cast Significant doubt on the charitable company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other Infomiatlon The trustees are responsible for the other informab"on. The other information (xjmprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on Ihe financial ststemenls does not cover the other infomiation and, except to the extent otherwise explicitly ststed in our report, we do not express any form of assuran condusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other informalion and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtsined in the audit or otherwise appears lo be malerially missiated. If we identify such material inconsistencies or apparent material misstslemenls, we are required lo determine whether this gives rise lo a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there 15 a material misstatement of this other infomiation, we are required to report that fact We have nothing lo 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 Twstees for the finanryal year for which the financial statements are prepared is consistent with the financial statements., and the Report of the Trustees has been prepared in aC(X)rdan with applicable legal requirements. Matters on which we are required to report by exceplion In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misststements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Acl 2006 requires us to report to you if, in our opinion= adequate accounting records have not en kept or relums adequaie for our audit have not been received from branches not visited by us,. or the financial statements are not 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 the information and explanations we require for our audil- or the trustees were not entided lo lake advantage of the small companies, exemption from the requirement to prepare a Strategi¢ Report or in preparing the Report of the Trustees. Page11
Report of thg Indepgndgnt Auditors to the Members of Citizens Advice Caerphilly Blaenau Gwent Responsibilities of trustees As explained more fully in the Slalemenl 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 statements and for being satisfied that they give a true and fair view. and for such intemal control as the trustees determine is nece558ry lo enable the preparation of financial staiements Ihal are free from material misslatemenl. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable companys ability lo continue as a going concern, disdosing, as applicable. matters related to going concern and using the going concem basis of accounting unless the trustees either intend lo liquidale the d)arilable company or to cease operations, or have no realistic altemab've but to do so. Our responsibilities for the audit of the financial stalements We have been appointed as auditor under Section 151 of the Charrties Act 2011 and rewrt in accordance with the Act and relevant regulakn'ons made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the finanaal stalemenls as a whole are free from material misstatement. whether due to fraud or error, and to i&sue and Auditors, Report that includes our opinion. Reasonable assuran is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misslalemenl when it exists. Misslatements can arise from traud 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 finanryal statements. Irregularities, including fraud, are instsnces of non-compliance with laws and regulations. We design proCedUS in line with our responsibilities. oudined at)ove, to detect material misstatements in respect of irregularities, including fraud. The specific prc¢edures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.. Enquiry of management and those charged with governan arouThJ actual and potential litigation and claims., Enquiry of enlily staff lo identify any insiances of non-compliance wilh laws and regulations- Perfomiing audit work over the risk of management override of controls, including testing of joumal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. Rewewing financial stalemenl disclosures and testing to supporting documentslion to assess Complian with applicable laws and regulations. Because of the inherent limitations of an audit. there is a risk thal we will not detect all irregularities, including those leading to a material misstatement in the financial slalements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transadions reflected in the financial statements, as we will be less likely lo become aware of insiances of non-complian. The risk is also greater regarding irregularities occurrir)g due to fraud rather than error, as fraud involves intentional concealment, forgery. collusion, omission or misrepresentation. A further description of our responsibilities for the audit of Ihe financial slatements is located on the Financial Reporting Council's website at.- www.frc.org.uklauditorsresponsibilities. This description forrTbS part of our Auditors, Report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 20(%. Our audit work has been undertaken so that we might slate to the tharitable company's members those matters we are required lo stsle lo them in an auditors. report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume restx)nsibility to anyone other than the charitsble company and the charitable company's members as a body, for our audit work, for this reporL or ft)r the opinions we have fornied. Rachel Doyle ACA DChA (Senior Statutory Audttor) for and on behalf of MHA Statutory Auditor CARDIFF CF23 8RS Date.. 1711212025 MHA is the trading name of MHA Audit Services LLP. a limited liability partnership in England and Wales (registered number OC455542) Page 12
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT ststement of Financial Activities Ilncorporating an Incorne and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds as stated Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 200.047 200,047 232.917 Charitsble activitigs Generalist advice Specialist advic 2.869.196 3,230.164 504.985 6,099.360 504.985 6,060,145 524.414 Investment income 37,924 37,924 9,288 Total 3,107,167 3,735,149 6,842,316 6,826,764 EXPENDITURE ON Charitable activities Generalist advice Specialist advice 2.915,144 3,802,153 63,818 6,717,297 63,818 6,071,685 52.481 Total 2.915.144 3,865.971 6,781.115 6,124,166 Nel gains on investments Actuarial gains on pension {13,594) 238.000 {13,5941 238.000 68.741 274.000 NET INCOMEI{EXPENDITUREI 416.429 (130.822) 285.607 1,045.339 RECONCILIATION OF FUNDS Total funds brought fotward 4.198.344 645.192 4,843,536 3,798,197 TOTAL FUNDS CARRIED FORWARD 4,614,773 514,370 5,129,143 4,843,536 The notes fonn part of these financial statements Page 13
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Balance Sheet 31 MARCH 2025 2025 Total funds 2024 Total funds as restated Unrestricied funds Restricted funds Notes FIXED ASSETS Tangible assets Investments 15 16 394,757 524.709 394.757 524.709 437,214 538.303 919.466 919,466 975,517 CURRENT ASSETS Debtors Investments Cash at bank 17 649.078 500.000 1.016,970 161.836 810.914 500,000 1.471.966 598.519 500.000 1,778,033 454.996 2.166,048 616,832 2,782,880 2,876,552 CREDoRs Amount5 falling due wthin one year 18 (415,741) (102.462) {518,203) {507,5331 NET CURRENT ASSETS 1,750,307 514,370 2,264,677 2,369,019 TOTAL ASSETS LESS CURRENT LIABILlEs 2.669.773 514.370 3.184.143 3.344.536 PENSION ASS 21 1.945.000 1,945.000 1,499.000 NET ASSETS 4.614.773 514,370 5,129,143 4,843,536 FUNDS Unrestricted funds Restricted funds 20 4,614,773 514,370 4,198,344 645,192 TOTAL FUNDS 5.129,143 4,843,536 These financial statements have been prepared in accordance with the provisions applicable lo charitable companies subject to the small companies, regime. The finanaal stslemenls were approved by Ihe Board of Trustees and authorised for issue on 17 December 2025 and were signed on its behalf by: E E*$1@$te 2025, 10..33arnl ec 15. 2025, 6..46pm The notes fomi part of Ihese financial statements Page 14
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Cash Flow Statement FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 as restated Notes Cash flows from operating activities Cash generated from operations 322.601} 565.970 Nel cash (used inyprovided by operating adivtties 322.601) 565,970 Cash Ilows from investing activities Purchase of tangible fixed assets Interest received 121,390} 37,924 178,441) 9,288 Nel cash provided byl (used inl investing activtbes 16.534 69,153) Changg in cash and cash oquivalgnts in the reporting period Cash and cash equivalents at the beginning of the reporting period {306,067} 496,817 1,778.033 1.281,216 Cash and Cash oquivalgnts at thg ond of the reporting period 1.471,966 1,778,033 The notes fonn part of these financial statements Page 15
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Cash Flow Statement FOR THE YEAR ENDED 31 MARCH 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 as restated Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Lossesl(gainl on investments Interest received Increaselldecreasel in provisions Increase in debtors Increase in creditors 285,607 1,045.339 63.847 13,594 137,924) (446,000) 1212,3951 10,670 63,520 168,7411 19,2881 (461,000) (125,519) 121,659 Net cash {used inllprovided by operations 1322,601) 565,970 ANALYSIS OF CHANGES IN NET FUNDS Al 114124 Cash flow At 3113125 Net cash Cash al bank 1,778,033 306,0671 1,471,966 1,778.033 306.0671 1,471,966 Liquid resources Deposits included in cash Current asset investments 500,000 500,000 500,000 500,000 Total 2.278.033 (306.0671 1,971,966 The notes fonn part of these financial statements Page 16
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2025 STATUTORY INFORMATION Citizens Advice Caerphilly Blaenau Gwenl is a registered charity and private company limited by guarantee having no share capital. memirS have agreed to Cntribute £1 in the event of a winding up. The company is incorporated in Wales in the United lthngdom. and its registered office is 1-2 Church Pla, Bargoed, Caerphilly, CF818RP. The nature of the compan$ operations and principal ath"vities is disdosed wthin the Report of the Trustees. The financial statements are presented in Sterling {£1. the company s functional currency, and rounded to the nearest FX)und. The significant accounting policies applied in the preparation of these financial stalemenls are set out below. These policies have been consistenly applied to all years presented unless otherwise slated. ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial stslemenls 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 RetM)rting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191., Financial Reporting Standard 102 The Financial Reporting Siandard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statement5 have been prepared under the historical cost convention, with the exception of investments which are included at market value. as modified by the revaluation of certain assets. There have been no material departures from the standard. GOING CONCERN No material uncertainties exist relating to events or conditions that may cast significant doubl upon the entity's ability to continue as a going (x)ncem. 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 reiVed and the amount can be measured reliably. This includes capital grants. Donations and legacies income includes donations. gifts and grants that provide core funding or are of a general nature are recognised where there is enlillement. 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 unconditional enlidemenl. Income from charitsble activities includes income received under contract or where entiuement to grant funding is subject to specific performance tx)nditions. This income is recognised where there is enlitlemenl. when the receipt is probable and the amount can be measured rdiably. Income is deferred when the amounts reiVed are Ill advance of the performance of the service or event to which they relate. other trading activities is rec(onised as the relaled serwces are provided and there is enlillement, probability of r1p1 and the amount can be measu with suffiuenl reliability. Income is deferred when the amounts received are in advance of the delivery of the service or event to which it relates. Investment income is recognised on a receivable basis. EXPENDITURE Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, il is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliabty. Expenditure is accounted for on an accnjals basis and has been classified under headings that aggregate all cosl relaled lo Ihe category. Where costs cannot be directly attributed to particular headings they have been allocated lo activities on a basis consistent with the use of resources. Page 17 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES - continued EXPENDITURE Expenditure on charitable activities comprises those cosls incurred by the charity in the delivery of ils activities and services for ils benefiaaries. It includes both eA)sts that can be allocated directly lo such activities and those Costs of an indirect nature to support them. Support costs are those costs that. whilst necessary to deliver an activity, do not themselves pr(xJuce or constitute the output of the Charitable activity. This indudes govemance costs which are those wsls associated with meeting the conslitulional and stalutory requirements of the tharity and include the accountancy fees and costs linked to the strategic management of trbe charity as well as a proporb'on of salaries based on an approximation of time spent in this area. Expenditure includes any VAT which nn0t 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 reflect the use of the resource. Costs relating to a parb"cular activity are allocated directly.. others are apportioned on an appropriate basis. TANGIBLE FIXED ASSETS Depreci81ion is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Improvetnents to leasehold property Fixtures and fittings Computer equipment 2Qh & 10°A on cosl in accordance wth the lease straight line over 15 years 2% & 20°h on cost Fixed assets are initially recorded at 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 losses on investments are shown separately on the face of the statement of financial activib"es. Investment income is recognised on a receivable basis. TAXATION The charity is exempt from corporation tax on its charitable activities. 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 scherne is being accounted for under FRS102. with the annually calculated notional 5UTplus or deficit on the funding of the scheme shown in the acUnts as part of unrestricted funds. The trustees note that the calculated notional deficit or surplus calculated under FRS102 can vary greatly from year to year depending on the assumptions made al the valuation dale, bul with nomally little or no effect upon short term cashflows. This scheme was Closed to new entrants during 2(K)7108. The ch8rity contributes to the personal t)ension schemes of some of tts employees. Contributions payable to the schemes are tharged to the profit and loss account in the period to which they relate. OPERATING LEASE AGREEMENTS Rentals applicable to operating leases where substantially all of the beneffits and risks of ownership remain with the lessor are charged against profits on a slraight-line basis over the pericKI of the lease. The benefits of lease incentives are re(x)gnised in the statement of ffinancial activities over the lease period. BASIS OF RECOGNITION OF LIABILITIES Liabilities are recognised as soon as there is a legal or construcbve obligation which commits the charity to the expenditure. Page 18 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES - continued UNRESTRICTED FUNDS Unrestricted funds are donations and other incoming resources receivable or generated for the objects of ltr charity without further specified purTX)se and are available as general funds. DESIGNATED FUNDS Designated funds are unrestricted funds eamiarked by the tK)ard for particular purposes. RESTRICTED FUNDS Restricted funds are to be used for specific purwses as laid down by the donor. Expenditure, which meets these criteria, is charged to the fund. together with a fair alltKation of SUPFK)rt and govemance costs. FINANCIAL INSTRUMENTS The charity only has finanal assets and financial liabiltb.es of a kind that qualify as basic finanryal instruments. Basic financial instruments are initialty recognised at transath.on value and subsequently measured at their selllemenl value. Debtors with no stated interest rate and re1vable within one year are recorded at transaction price. Any losses arising from impaimient are recognised in expenditure. Prepayments are valued al the amount prepaid net of any trade discounts due. Creditors and provisions are recognised where the charity has a presenl obligation resulting from a past event that will probably result in the Iransfer of funds to a third party and the amount due lo settle the obligation can be rneasured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. SIGNIFICANT ACCOUNTING ESTIMATES Estimates and judgements are conb"nually evaluated and are based on historical experience and other relevant factors, induding expectations of future events Ihat are believed to be reasonable under the circumstances. The preparation of the finanoal statements requires management lo make estimates and assumptions Conceming the future. The resulting ac(xJunting eskn"mates will, by definition. be likely to differ from the related actual results. No estr'mates or assumptions have been idenlified thal have significant risk of causing material adjustment to the carrying amounts of assets and liabilities wtthin the next financial year. DONATIONS AND LEGACIES 2025 2024 as restated Grants Sundry donations 200,047 216,714 16,203 200,047 232,917 Grants received, included in the above, are as follows: 2025 2024 as restated Caerphilly County Borough Council - core funding Blaenau Gwent County Borough Council- tx)re fvnding 200,047 136.714 80,000 200,047 216,714 Page 19 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 INVESTMENT INCOME 2025 2024 as restated Bank interest receivable 37,924 9,288 INCOME FROM CHARITABLE AcTIVlEs 2025 2024 as restated Actiwty Generalist advice Specialist advice Grants and contracl funding Grants and contract funding 6.099,360 504,985 6.060,145 524,414 6,604.345 6.584.559 Further analysis of grants and contract funding.. Unrestricted Restricted Total Funds Funds Funds 2025 Total Funds 2024 Access Partnership Access to Justice Foundation - HALS Aneurin Bevan Citizens Advice- Energy Advice PrcMJramme Citizens Advice- Phone Strategy Implementation Cikn'zens Adwce- Witness Service Citizens Advice- Consumer Service Citizens Advice- Consumer SeThice (Energy) Citizens Adwce- Help Through Hardship Cib'zens AdMce- Help to Claim: Full service delivery Caerphilly County Council - Confident wtth Cash (Let's Talk Money) Cost of Living Sub Grant Communities for Work ASDAP- MaPS- Debt Advi Hub MASDAP- MaPS- NDL MASDAP- MaPS- DRO Hub Wales MaPS- DRO Hub National Moondance Foundation Rhymney Valley Foodbank Welsh Govemmenl - Advice Link Cymru (Claim What's Yours} Welsh Govemmenl - Advice Link Cymnj (Remote fund) Welsh Govemment - Advice Link Cwnru (Generalist fund) Welsh Govemmenl - Advice Link CymnJ (Debt fund) Welsh Govemmenl - Advi Link Cymru (Speryalist fund) Welsh Govemment - Basic Income Pilot (5,802) (5.8021 21,000 13,350 69,715 144,000 399,000 364,063 895,929 341,331 281,442 63.282 63,282 123.949 123,949 377,441 377,441 1.244.619 1,244,619 264.780 264,780 195.555 173,536 173,536 366.395 366,395 218,103 10,000 44,810 1,489,186 650,441 9,289 52.500 52,500 1,485,671 684,720 110.650 269,128 62,219 97,155 1,485,671 684,720 110,650 269,128 62,219 97.155 62,219 184,624 184,624 275,023 422.454 422,454 451,598 355.166 355,166 355,165 185.539 185,539 185,539 37,810 26.490 37,810 26,490 37,809 92,011 2.869,196 3.735,149 6.604,345 6,584,559 Page 20 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 CHARITABLE ACTIVITIES COSTS Direct Costs {see note 71 Support costs (see note 81 Totals Generalist admce Specialist advi 6,052.796 664,501 63,818 6.717,297 63,818 6.052,796 728.319 6,781.115 DIRECT COSTS OF CHARITABLE ACTIVITIES 2025 2024 as reststed Staff costs Rent, rates & service charge Light & heal Insurance Repairs & maintenance (including cleaning) Staff & volunteer travel expenses Printing & stationery Telephone & postage Reference materials & subscriptions Other staff related costs Office costs Fuel voucher costs Depreciation 5,510,332 53,708 22,074 28,488 95,540 26,186 10,645 149,133 15,445 62,110 2,525 35,000 41,610 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 6,052.796 5,516,851 SUPPORT COSTS Staff cosls Other costs Govemance costs Depreuation Totals Generalist adwce Specialist advi 497,882 42.355 20,494 1.743 121,745 16,668 24,380 3,052 664,501 63,818 540.237 22.237 138.413 27,432 728.319 The charity allocates its support costs as shown in the tsble and then further app)rtions Ihose costs between the charitable activities undertaken. Support costs are allocated on a basis consistent with the use of resources based on the number of employee hours spent in each area. NET INCOMEI{EXPENDITUREI Net incomellexpendilure) is stated after chargingl(crediting): 2025 2024 as restated Auditors, remuneration Auditors. remuneration for non-audit work Depreciation - owned assets 11,500 4.653 63,847 5,729 7,395 63,520 Page 21 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 10. TRUSTEES. REMUNERATION AND BENEFs There were no trustees, remuneratK)n or other benefits for the year ended 31 March 2025 or for the year ended 31 March 2024. TRUSTEES. EXPENSES During the year £54 expenses were paid to one truslee12024.' £Nil). 11. STAFF COSTS 2025 2024 as restated Wages and salaries Social security costs Other pension Costs 5,333,272 472,256 245,041 4,800,672 421,677 229,331 6,050.569 5,451,680 The average monthly number of employees during the year was as follows.. 2025 2024 as restated 11 11 18 172 Number of administrative staff Numberof management staff Number of supervisors & team leaders Number of 12seworkers l advisers Number of training & recruitment Number of other staff 14 13 19 166 219 218 The number of employees whose empk)yee benefits (exduding employer pension costs) exceeded £60,000 was.. 2025 2024 as restated £60.001- £70,000 £80.001- £90,000 The total key management personnel remuneration benefits during the year were £362,238 {2024 - £341,422). The amount of redundancy costs I termination payments paid during the year totalled £Nil12024- £10.0001. 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES Unrestricted funds Restricted fijnds Total funds as restated INCOME AND ENDOWMENTS FROM Donations and legacies 232.917 232,917 Charitable activities Generalist advice Specialist advice 2.446,734 3,613,411 524.414 6,060,145 524.414 Investment in(x)me 9.288 9,288 Total 2.688.939 4.137,825 6.826,764 Page 22 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES - contlnued Unrestricted funds Restricted funds Total funds as restated EXPENDITURE ON Charitable activities Generalist adwce Specialist aijvi 2.166,387 52,481 3.905,298 6,071,685 52,481 Total 2,218,868 3,905,298 6,124,166 Nel gains on investments 342.741 342.741 NET INCOME 812.812 232,527 1,045.339 RECONCILIATION OF FUNDS Total funds brought forward 3,385,532 412,665 3,798,197 TOTAL FUNDS CARRIED FORWARD 4.198.344 645.192 4,843.536 13. PRIOR YEAR ADJUSTMENT A prior year adjustment has been made lo reallocate £80,477 of expenditure from reslricted funds lo unrestricted funds. It was noted in the current year that a transposition error had been rnade in 2024 when recording the value for restricted expenditure on the Advicelink Claim What's Your5 fund. As a result restricted expenditure was overstated by £80,477. The adjustment has been made to correct this and rellect the correct balance brought fotward on unrestricted and restricted funds. Comparatives have been amended to rrM)ve £5(K),000 from cash at bank and in hand to current asset investments, as it provided a belter description of the nature of the assets. 14. FINANCIAL INSTRUMENTS 2025 2024 Financial assets Financial assets that are debt instruments measured at amlSed cost Financial assets measured al fair value 2.760,396 524,709 2.839,400 538,303 2025 2024 Financial liabilities Financial liabilities measured at amortised cost Financial liabilities measured at fair value 278,988 253,897 Financial assets measured at amortised cost comprise cash at bank and accrued income. Finanryal assets measured at fair value comprise fixed asset investments. Financial liabilities measured at amorb5ed cost comprise trade creditors, other creditors and accruals. Page 23 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 15. TANGIBLE FIXED ASSETS Improvetnents to leasehold property Fixtures and fittings Freehold property Computer equipment Totals COST Al 1 April 2024 Additions Disposals 1.212.480 88.445 16.271 130,074 5.119 270,272 1.701,271 21,390 138,7961 138,7961 Al 31 March 2025 1,212.480 104.716 135,193 131,476 1.583,865 DEPRECIATION Al 1 April 2024 Charge for year Eliminated on disposal 902.632 6.500 47.636 12.119 82.397 18,164 231,392 27,064 138,7961 1.264,057 63,847 138,7961 Al 31 March 2025 909.132 59.755 100,561 119.660 1,189,108 NET BOOK VALUE Al 31 March 2025 303.348 44.961 34,632 11.816 394,757 At 31 March 2024 309.848 40.809 47,677 38,880 437,214 A professional valuation of 1-2 Church Place was completed in June 2018. This valuation resulted in a propety impaimienl expense of £817,778 in 2018 and an additional impainment of £47.748 in 2019. 16. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE Al 1 April 2024 Revaluations 538,303 Al 31 March 2025 524,709 NET BOOK VALUE Al 31 March 2025 524,709 Al 31 March 2024 538,303 2025 2024 Historical cost of investments 450,500 450,500 There were no investment assets outside the UK. Page 24 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 FIXED ASSET INVESTMENTS - contlnued Cost or valuation at 31 Marth 2025 is represented by.. Listed investments Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuation in 2024 Valuation in 2025 Cost 2.779 7,941 8,342 68.741 113,594) 450,500 524,709 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 as reststed Prepayments and accrued income 810,914 598,519 18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 as restated Social securily and other taxes VAT Other creditors A¢¢ruals and deferred inrne 90,307 129,996 227,812 59,418 136,752 341,426 40,025 518,203 507,533 Included within accruals and deferred income above is the fdlowing deferred income.. 2025 2024 Blaenau Gwenl- core funding 33,333 33,333 Deferred income relates to grant funding reiVed in financial year whith relates to the following financial period. The prior year deferred income balan was released in full to the SOFA during the year. 19. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows= 2025 2024 as restated Within one year Between one and five years In more than five years 51,837 5,660 1.194 31,375 51,603 58.691 82,978 Page 25 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 20. MOVEMENT IN FUNDS Net movement in funds Transfers beeen funds Al 3113125 At 114124 Unrestrictgd funds General fund Designated fund Organis8tional development Designated fund - Asset management and development Designated fund - Self fulldl projects Designated fund - Family advice service Designated fund - Pension scheme asset 2.129.844 435,929 1446,000) 2.119,773 250.tKJO 250,000 100,CN)O 200,000 19,5(K) 1.499.000 100,000 200,000 {19,5(K)I 446,000 1.945,000 4.198,344 416.429 4,614.773 Restricted funds Phone Strategy Implementation Witness Service Consumer Service Welsh Government- A(fvice Link CyTnru (Remole Fund} The Moondance Foundation Citizens Advice - Energy Advi Programme Citizens Advice - Help Through Hardship Communities for Work Welsh Government- Advi Link CyTnru - Claim What's Yours Citizens Advice - Basic Inme Pilot Citizens Advice - Consumer Service - Energy Access Partnership MAPS- DRO Hub Wales Rhymney Valley Foodbank 111,408 159 820 56.845 111,567 820 63,269 6.424 45,072 18.673 (45,072} (1.374) 17,299 89,0(X) 67.478 14.413 (35,OQK)I (4.201 } 2.172 54,000 63,277 16,585 136,661 16.402 {136,661 } (16.4021 125,999 13.662 125,999 (13.662} 125 61,429 125 61,429 645,192 130,822} 514,370 TOTAL FUNDS 4,843,536 285,607 5,129,143 Page 26 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 20. MOVEMENT IN FUNDS- continued 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 - Family advice service 3.107.167 {2.895.644} 19,5QK)I 224,406 435,929 19,500) 3.107,167 12.915,144) 224.406 416.429 Restricted funds Phone Strategy Implementation Witness Service Consumer SeNice Welsh Government- Advi Link Cymru (Remote Fund} Welsh Government- Advice Link Cymru (Generalist Fund) Welsh Government- A(fvice Link CyTnru (Specialist Fund) Welsh Government- Advice Link Cymru (Debt Fund) The Moondance Foundation Citizens Advice - Energy Advice Programme Help lo Claim - Full service delivery Citizens Advi - Help Through Hardship Communities for Work Welsh Government- Advi Link CyTnru - Claim What's Yours Citizens Advice - Basic Incnme Pilot Access Partnership MAPS- DRO Hub Wales Rhymney Valley Foodbank 123,949 377,441 1.244.619 {123,790) {376,621 } {1.187.774} 159 820 56,845 422,454 {467,526} 145,072) 355.166 {355.166) 37.810 (37,8101 185.539 62.219 {185.539) {63,5931 {1,374) (35,0001 {195.555} {268,981 } (50.328) 135,000) 195.555 264,780 52.5CK) {4,201) 2,172 184,624 26.49) 15.8021 110,650 97.155 {321,285} {42,8921 (7.860) {110,525} 35,7261 1136,661) 116,402) 113,662) 125 61,429 3.735,149 3.865,971) 130.822) TOTAL FUNDS 6.842.316 6,781,115) 224,406 285,607 Page 27 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 20. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Nel movement in funds Transfers between funds At 3113124 At 114123 Unrestrictod funds General fund Designated fund Organisational development Designated fund - Asset management and development Designated fund - Self fUlld projects Designated fund - Family advice serwce Designated fund - Pension scheme asset 3.035,532 812,812 11,718,500) 2,129,844 250,CKJO 250,000 100.c0 100,000 200,000 19,500 1,499,000 200,000 19,500 1,499,000 3.385,532 812.812 4,198.344 Restricted funds Phone Strategy Implementation Consumer SeNice Welsh Government- Advice Link Cymru (Remote Fund} The Moondance Foundation Citizens Advice - Energy Advice Programme Citizens Advice - Help Through Hardship Communities for Work Welsh Government- Advie£ Link Cymru - Claim What's Yours Access to Justice Foundation - HALS Citizens Advice - Basic Income Pilot Citizens Advice - Consumer Service - 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 7.152 89,000 67,478 14,413 57.960 7.261 178.577 3,237 971 {41.9161 {3,237} 15.431 136,661 16,402 19,059 106,940 13.662 125,999 13,662 412,665 232.527 645.192 TOTAL FUNDS 3.798.197 1,045,339 4.843,536 Page 28 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 20. MOVEMENT IN FUNDS- continued Comparative nel movement in funds. induded in the above are as follows.. Incoming resources Resources expended Gains and losse5 Movement in funds Unrestricted funds General fund 2.688.939 {2.218.868> 342,741 812,812 Restrrcted funds Phone Strategy Implementation Witness Service Consumer SeNice Welsh Government- Advi Link CyTnru (Remote Fund} Welsh Government- Advice Link CyTnru (Generalist Fund) Welsh Government- Advi Link CyTnru Ispecialisl Fund) Welsh Government- Advi Link Cymru (Debt Fund) The Moondance Foundation Citizens Advice - Energy Advice Programme Help to Claim - Full service delivery Citizens Advice - Help Through Hardship Communities for Work Welsh Government- A(fvice Link CyTnru - Claim What's Yours Access to Jusbce Foundation - HALS Citizens Advice - Basic In(x)me Pilot Citizens Advice - Consumer Service - Energy Access Partnership 399,000 364.063 895,929 {376.506) {364,063} {904,6891 22,494 {8,760) 451.598 {432.988) 18,610 355.165 {355.165} 37,809 (37,8091 185,539 62,219 {185,539) {58,5861 3,633 144,000 173,536 281.442 44.810 {55,OCK)I (173.5361 (271.9241 (37,6581 89,000 9,518 7,152 275,023 13.350 92.011 {316,939} (16,5871 (76.5801 141,916) 13,237) 15,431 341,331 21.OC(I {234,391 } 7.338} 106,940 13,662 4.137,825 3.905,298) 232.527 TOTAL FUNDS 6.826.764 6.124.166> 342,741 1,045,339 Restricted funds Phone Strategy Implemgntation (PSI) Funded by Citizens Advice, for the provision of tier one phone services of an AdViline Specialist Provider. Consumer Service Following a stringent tendering process, we were successfvl in securing funding lo establish and deliver one of five Consurner Service contact centres. Our teaTll take calls on a dedicated consumer helpline number 8nd provide information advi and support to members of the public with consumer issues. We work closely with Trading Standards and many callers are referred through to Iheir local trading standard offir. Adviceline Cyrnru - We have a contract wilh Ctbzens AdwtE Cymru to deliver bilingual national Adviceline team leader support lo paid assessors in LCA across Wales with the aim of improving the quality of their telephone advice Servi$. Moondance Foundation The Moondance Foundation fund provides charities wilh an OprtUnIty to work on projects that drive Iransfomiational change across Wales and our local CmMunIty- Energy Advice Programme Funding towards supporting energy cost crisis by distributing pre-payment fuel vouchers lo residents of Caerphilly County Council in fuel poverty, and by offering energy advice to recipients of this scheme. Ensuring holistic advice is offered to resident of Caerphilly County Council where specific need is recognised, e.g. debu welfare benefits advice. Page 29 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 20. MOVEMENT IN FUNDS- continued Help through Hardship A national Citizens Advice project funded be the TnJssell Trust. The aim of the service is to help people or households facing hardship to maximise their income. Our advisers also help lo identify the need for wider advice {such as debt, immigration or housing. for example) directing people to specialist onward support. Communities For Work A proje¢l to provide dedicated adviser b.me to people in Blaenau Gwent seeking to improve their employability with the support of the Communities For Work team. Claim What's Yours Claim What's Yours is a Welsh Govemment campaign aimed at getting people to check whether they are in reIpl of all the benefit income they are enknued to. A¢¢gSS to Justi Foundation - HALS Funding specifically towards a free. impartial advi service, providing advice and support to clients who cannot afford lo pay for advice and who are not eligible for legal aid. Basic Income Pilot A project designed to work with local authorities and services lo provide advice lo young persons regarding basic income, evaluating whether they are eligitAe to claim. and whether it would be beneficial ft)r them lo claim basic income or remain with other funding I payments. Access Partnership Funding from Advi¢elink Cymru to work with a$S andlor referral partners wlhin their region, and use the funding to develop closer working relationships with partner organisations and generate increased inward referrals from regional partners. in order lo make the existing provision of Advicelink Cymru services more accessible to clients in the specified regional target groups. Wltness Sebvlce This proje¢l is funded by the Ministy of Justice via cikn.zens Advice. The project provides free and independent support for both prosecution and defence wrtnesses. Serviced from our Caerphilly contact centre, our team provide practical infomialion about the pro$$. as well as emolional support lo help witnesses feel more confidenl when giving evidence. MAPS DRO Hub Wales Funded by the Welsh Govemmenl Single Advice Fund to provide a free, high quality Debt Relief Order application service to debt dients based in Wales. Rhymney Valley Foodbank Funded by Rhymney Valley Ftx)dbank to provide a $FCIaliSt debt advice service to FoodBank service users. Oesi nated funds Organisational Development We have made provision for the ongoing Organisational Development of the organisation that could be used to meet our charitable objectives. This provision can be used where there is a business need lo commission a project or new role that will help us reach out lo a wider community of service users. Altetnatively, 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. Self Funded Projects The charity has a number of projects that will need to be funded intemally rather than via external funding, as such we have sel aside £200,000 lo assist wlh funding these projects by ensuring funds are sel aside. Family Advicg Sgrvice We have set aside £19,500 lo assist with funding of the family advice service, where additional expenditure is expected to be incurred that has not been fijnded extemally. Pension Scheme Asset The value of the pension scheme asset on the balance sheet at 31 March 2024 was £1.499,000 a designated fund has been set aside for this value. to refiect the true value of unrestricted reserves at year-end. Page 30 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - Continued FOR THE YEAR ENDED 31 MARCH 2025 20. MOVEMENT IN FUNDS - continued Restricted funds relatin to the rior ear MASDAP Webchat I Contact Centre l Helpline This is a Money Advice Service funded Debt Advice Project in partnership with Cibzens Adwce. This project funds a team of 11.5 full lime equivalent employees. based at our Caerphilly call centre, who provide initial advice lo callers to the national Adviceline helpline. Consumer Service- Energy Funded by Cib"zens Advice for the provision of inforniation and energy advice and support to members of the public with consumer issues. TRANSFERS BETWEEN FUNDS The only transfer between funds during the year was to update the balan in the designated fund which was aside for the value of Ihe defined benefit pension scheme asset al year*nd. 21. EMPLOYEE BENEFIT OBLIGATIONS The Charity is part of a multi-employer. funded. defined benefits scheme. The scheme is part of the Greater Gwent {Torfaen) Pension Fund. The charge for the year, against which employer contributions were paid over to the scheme, amounled lo £175.000 {2024 - £183.0001, together wilh the actuarial gain on the scheme for Ihe year of £238,000, (2024 - £274.000) are recognised in the Statement of Financial Activities in accordance with FRS102. A full valuation of the Greater Gwent ITorfaen} Pension Fund was carried out as al 31 March 2019, updated lo 31 March 2025. The major assumptions used in the valuation were= 2025 3.3°/0 2.80/0 2024 3.3% 2.8Q/o Rate of increase in salaries Rate of increase in pensions Discount rate The split of assets betsveen investment categories is" 2025 2024 Equities Bonds Property Cash 2,699.540 665,640 332,820 73 18 2.573,720 591,260 208,680 104.340 74 17 2025 2024 Fair value of plan assets Present value of scheme liabilities Surplus I (Deficit) in the scheme 3,698,000 (1.753,000) 1,945,000 3,478,000 11.979,0001 1,499,000 As at 31 March 2025 the charitable company was reporting a pension asset of £1,945,00012024'. £1,499,000) Amourrts included within the income and expenditure account for the year are.- 2025 2024 Current service c4)st 41,000 48,000 Finan {incomellix)sts for the year are= 2025 2024 Expected retum on assets 1168,000) 1146,0001 Interest on pension liabilities 93,000 94,000 Finance cost recognised in the Statement of Financial Acliwties 75,000) 52,0001 Page 31 continued...
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Notes to the Financial Statements - eontinued FOR THE YEAR ENDED 31 MARCH 2025 21. EMPLOYEE BENEFIT OBLIGATIONS - contlnued Statement of recognised gainslllosses): 2025 2024 Retum on assets Change in financial assumptions Change in demographic assumption other 117,000) 234,000 4.000 17,000) 247,000 70,000 11,000 54,0001 Actuarial net gainl{loss) 238,000 274,000 The charity made contributions of £174,91412024 - £182.923) to the pension plans of employees during the year. At the year end there were contributions of £Nil outstanding12024 - £Nil). 22. RELATEO PARTY DISCLOSURES During the year, the Aneurin Bevan Universty LcKal Health Board provided an unrestricted grant of £63,282 12024 £69,715). Glyn Jones is a tnjslee of Cilizens Advice Caerphilly Blaenau Gwenl, as well as being a director of the Aneurin Bevan University Loc81 Health Board. During the year lo 31 March 2025 £63.282 had been TlVed, with £5,274 in accrued income12024= £13,943) Page 32
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 as reslaled INCOME AND ENOOWMENTS Donation$ and legacies Grants Sundry donations 200,047 216,714 16,203 200,047 232,917 Investment income Bank interest receivable 37,924 9.288 Charitable activities Grants and contract funding 6,604,345 6,584,559 Total Incoming resources 6,842,316 6,826,764 EXPENDITURE Charitablg artivitigs Wages Social security Other pension costs Rent, rates & service charge Light & heal Insurance Repairs & maintenance (including cleaning) Staff & volunteer travel expenses Printing & stationery Telephone & postage Reference materials & subscriptions Other stsff related costs Office costs Fuel voucher costs Depreciation charges 4,918,145 428,889 163,298 53,708 22,074 28,488 95,540 26,186 10,645 149,133 15,445 62,110 2,525 35,0(X) 41,610 4,439,722 382,126 155,879 77,997 24,575 17,394 49,048 44,048 18,049 146,867 8,876 38,831 55,000 58,439 6.052,796 5,516,851 Support costs Staff costs Wages Social security other pension costs 415,127 43,367 81,743 360,950 39,551 73,452 540,237 473,953 Depreciation Depreciation 22,237 5,082 Other costs Rent, rates & Servi charge Light & heat Insurance Repairs & maintenance (including cleaning) Carried forward 4,670 1.920 2,477 8.308 17.375 6,782 2,137 1,513 4,265 14,697 This page does not form part of the statutory financial statements Page 33
CITIZENS ADVICE CAERPHILLY BLAENAU GWENT Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 as reslaled Other costs Brought forward Staff & volunteer travel expenses 17,375 2.277 14,697 3,830 È- ji Printing & stationery Telephone & postage Staff & volunteer training Sundry Costs {including extemal storage) Bank charges Other staff related costs Reference materials & subscriptions Payroll fees, HR & finan sofiware Irrecoverable VAT Office costs Interest on pension stheme liabilities 926 12,969 45,057 73,587 5.634 6.056 1,343 12,139 35,830 220 75,0001 1,570 12,771 31,579 19,600 1,750 3,671 772 12,618 59,829 52.0001 138,413 110,687 Governance costs Auditors, remuneration Auditors. remuneration for non-audil worf( Accountancy and legal fees 11.500 4.653 11,279 5,729 7,395 4,469 27,432 17,593 Total resources expended 6,781,115 6,124,166 Net income before gains and losses {61.2011 702,598 Realised recognised gains and losses Realised g8in51llosses1 on fixed asset investments Actuarial profiullossl on defined benefit pension schemes {13,5941 68,741 238,000 274,000 Net income 285,607 1,045,339 This page does not form part of the statutory financial statements Page 34