OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

Directors’ and Trustees’ report and accounts For the year ended 31 March 2022

1

Contents

Contents
Reference and administrative information 2
Introduction from the Chair 4
Who we are 5
Our services 7
Client problems 8
Income by funding source 9
Thanks 9
A focus on Pension Wise 10
Who our clients are 11
The difference we make 12
The wider impact of the work we do 12
Research and campaigns 13
Volunteering with us 14
How did we do? 15
Key objectives for 2022/23 16
Financial review 17
Report of the auditors 24
Statement of financial activities 28
Balance sheet 30
Notes to the financial statements 31

2

Reference and administrative information

Charity Registration Number 1085220 Company limited by guarantee , Registered Number 4099352 Regulated by the Financial Conduct Authority FRN 617564

Registered Office: Citizens Advice Shropshire, Fletcher House, 15 College Hill,
Shrewsbury, SY1 1LY.
Directors and Trustees Chris Boote (Chair – current from 26/11/20)
Penny Cooper, Bethan Cross, Joanne Harrison,
Tony Hinkley, Andy Howitt, Paul Langton
Frances Beck (Elected 25/11/21)
Andy Brenan (Elected 25/11/21)
Julie Bertolini (Co-opted 27/01/22)
Andrew Philpott (Co-opted 23/03/22)
Claire Cartlidge (Resigned 25/11/21)
Honorary advisers Keir Hirst (Honorary Solicitor)
Steve Dargan (Honorary Adviser) (Resigned 19/07/22)
Company Secretary Paul Langton
Chief Executive Officer (CEO) Jackie Jeffrey
Senior Management Team CEO, Iona Aylen, Alison Alexander,
(SMT) Tereza Hayek (Resigned 18/03/22)
Finance Manager Katharine Haines (Also part of SMT)
Registered Office Fletcher House, 15 College Hill, Shrewsbury SY1 1LY
Bankers National Westminster Bank Plc.
Shrewsbury Mardol Head, 8 Mardol Head, Shrewsbury
SY1 1HE

3

Auditors James, Holyoak & Parker Limited 1 Knights Court, Archers Way, Battlefield Enterprise Park, Shrewsbury SY1 3GA Investment Advisers Redmayne Bentley 4 Tettenhall Road, Wolverhampton WV1 4SA (To 10/02/22) Rathbones Investment Management Limited Port of Liverpool Building, Pier Head, Liverpool L3 1NW (From10/02/22) Deposit Providers Flagstone 1[st] Floor, Clareville House, 26-27 Oxendon Street, London SW1Y 4EL

4

Introduction from the Chair

During 2021-22 Citizens Advice Shropshire continued to adapt its services to best serve the people of Shropshire, strengthening and enhancing the telephone advice service which has proved to be an effective and accessible way of providing free independent advice to people living in all parts of the county. As we adjusted to a post lockdown ‘way of life’ it’s also pleasing to report that we were able to reintroduce face to face appointments to people who need to access our service in person. We know that not everyone finds it easy, or possible, to use the telephone or other digital services and we have tried hard to open up our services in a way that has kept our staff, volunteers, and clients safe.

The economic impact of the Covid-19 pandemic started to make itself felt in 2021-22 as government furlough support ended. Many individuals and families have struggled to pay bills and cover essentials. We will have all seen newspaper headlines reporting growing demands for the help offered by food banks throughout the UK. Shropshire has been affected in this way like many other areas, and food poverty and insecurity is a growing area of concern.

I was therefore pleased that during the year Citizens Advice Shropshire was able to agree to take on the hosting role for the Shropshire Food Poverty Alliance to ensure that practical solutions to help people affected by food poverty can be developed and research can be used to campaign for change in a positive way.

I wish I could offer an optimistic forecast for the coming 12 months but there is little doubt that thousands of people in Shropshire are going to continue to need the support of Citizens Advice Shropshire and the partners we work with. The cost of living crisis is getting worse. Inflation forecasts are increasing prices for all of us – and already causing hardship for families and individuals with limited income. As we approach the autumn and winter months, fuel poverty is likely to become an acute problem in our county as it will elsewhere.

I cannot promise Citizens Advice Shropshire will be able to help everyone in the future, but what I can promise is that our incredibly hard working, creative and resilient team of volunteers and staff will continue to strive hard to help those who need our help most and to use our evidence and data to campaign for change in policies that we see have an unfair impact on those who do not have a voice. As Chair, I’d like to record my thanks to all our staff, our volunteers, our partners, and our funders who have helped us over the past year. The impacts and outcomes reported elsewhere in this report show just how much we’ve achieved in challenging circumstances.

It’s also important to note that we are fortunate to be a financially secure and stable charity and I’d like to thank my fellow Trustees who (like myself) are also volunteers, for their time, insights, and expertise.

Although we are facing a difficult and challenging period, I’m confident the qualities of our people and the strength in our partnerships put us in the best possible place to successfully help the most vulnerable in our community.

Chris Boote Chair

5

Who we are

Citizens Advice Shropshire (CAS) is a charity, constituted as a Company limited by guarantee and, therefore, governed by its Articles of Association. The trustees confirm they have referred to the information contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives of CAS, and in planning activities and setting policies and priorities for the year ahead.

The Charity's objects are to promote any charitable purpose for the public benefit by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress in particular, but without limitation, for the benefit of the community in Shropshire and surrounding areas.

In carrying out its objects and in all aspects of its work, CAS is committed to promoting equality and diversity, preventing prejudice and discrimination, ensuring equal access and promoting good relations between all sections of the community.

The main activities undertaken to further our charitable purposes for public benefit are to provide the advice people need for the problems that they face and to improve the policies and practices that affect people’s lives.

We are an organisation that is committed to its values, where the client is central to all we do and we are respectful of each other, providing a supportive and inclusive culture. We value integrity and stand up for fairness in all we do.

We cover many different subject areas including debt, welfare benefits, housing, employment, consumer, family and personal, utilities, tax, health and social care, education and legal.

The Charity is organised so that the trustees meet regularly to manage its affairs, with full board meetings held every two months. There are also two sub-committees which oversee

6

the more detailed aspects of governance, and, in turn, report to the main board.

Sub-committee Responsibilities
Finance
sub-committee		 To lead, develop and oversee the organisation’s policies and
strategies in respect of financial management and planning, ensuring
effective governance.
Operations
sub-committee		 To lead, develop and oversee the organisation’s policies and
strategies in respect of operational matters and service delivery,
ensuring effective governance.

The sub-committees have terms of reference covering their scope and delegated powers. Their membership and terms of reference are reviewed and updated annually.

We recruit trustees using local PR, social media, CAS website and our contacts to find people who have the skills and perspectives we need to provide good leadership and make sound decisions. Trustees are recruited against a job description and person specification which also list the behavioural competencies expected of a trustee of CAS. All new trustees are initially co-opted on to the board and are then elected to the board by the membership at the Annual General Meeting.

Trustees shall retire from office at the third annual general meeting following the annual general meeting at which they were elected but may be re-elected.

A trustee who holds office as Chair or Vice Chair may not hold office in that capacity for more than 6 consecutive years. After the end of this period a Vice Chair may be appointed as Chair, but two further years must pass before any former Chair or Vice Chair shall be eligible for re-election to any of those offices.

CAS is one of 265 separate and independent local Citizens Advice offices that make up the Citizens Advice Service across England and Wales. This is a membership organisation and we have to comply with strict membership standards and audit requirements to retain our membership. Through 20221/22 we retained a green rating (excellence) as part of our Performance and Quality Standards. We also hold the AQS Quality Mark (General Help) and we are Charity Commission endorsed as an Effective Charity (Charity Commission Membership Standard).

The day to day running of the organisation is delegated to the Chief Executive Officer (CEO), Jackie Jeffrey, who reports regularly to the board. The operations of CAS are managed through a Senior Management Team (SMT), comprising the CEO, Generalist Services Manager, Specialist Services Manager, Partnership and Development Manager, and Finance Manager.

In 2019 trustees adopted the process of assessing CAS job roles using an industry job evaluation scheme and are allocating roles to grades with the aim of providing a more structured, transparent and fair pay scheme. NJC scales are used as a guide for salaries. All

7

CAS staff are paid in excess of the living wage.

We have a detailed three year Strategic Plan which sets out organisational priorities and objectives which the SMT use to prioritise work. Risk and operational reports, KPIs and performance are reported to the board to allow trustees to monitor risk and performance.

Our services

Our different service delivery options are supported by a number of funding sources and we would like to take the opportunity to thank everyone who has supported our service over the last year.

The Generalist service for adults is where clients can contact us. In 2021/2022 this has been via our free telephone advice line, with provision for face to face appointments for those who need it (Subject to Government restrictions in force at that time). Details of service hours and how to contact us can be found on our website www.cabshropshire.org.uk. This service is funded by Shropshire Council, Ludlow Town Council, local Parish Councils and client donations.

IASS service provides Information, Advice and Support Service to children and young people aged 0 to 25 who have, or may have, special educational needs or disabilities (SEND), as well as their parents and carers. This service is funded by Shropshire Council and National Children’s Bureau.

Specialist provision includes specific subject areas such as debt advice (funded by the Money Advice Service), Pension Wise and Universal Credit: Help to Claim (main funder Department for Work and Pensions), welfare benefits (funded by Shropshire Council - Enable), Syrian Families and Marches Energy Agency with the Healthy Homes Project.

Outreach services have previously been face to face, for 2021/2022 we have had to support these clients by phone and have made special arrangement to ensure our most vulnerable clients have been helped. As Covid restrictions have changed we have begun to re-open some of our outreaches for face-to-face services.

We continue to use our free phone Adviceline (0808 278 7894) as the first point of contact for our clients. We can then assess the next best step for the client depending on enquiry and advice required.

Over the last year our Single Point of Referral (SPOR) on 01743 280019 has become more important as a means for health professionals /social workers and support workers/ local organisations to refer in their vulnerable clients. This local number is also used for IASS and debt clients.

8

Early in the year our staff continued to work mainly form home and we would like to thank all our staff for their flexibility and support in ensuring that CAS continued to provide essential support to our clients. We are now working with staff and volunteers to plan their return to the office.

Client roblems p

Despite continuing challenges of working within a pandemic and homeworking there has been a 6% increase in numbers helped, up by 420 from the previous year to 7,109. Since the beginning of the pandemic we have seen a number of changes to enquiries coming to CAS reflecting the challenges being faced by our clients. For example, employment issues have dropped 42% as we come out of furlough schemes and debt has risen 28% compared to 2020/21as creditor action, including repossessions and evections, began again after the closure of the courts. However, debt figures still remain lower than in 2019/20.

There were decreases in the number of issues about Benefits Universal Credit (26%) but an increase in Benefits and tax credits issues (14%) as people began to receive notification of reviews.

Issues Change

----- Start of picture text -----
Number of Issues 2020/21 and 2021/22
Benefits & tax credits
Financial services & capability
Benefits Universal Credit
Debt
Housing
Employment
Relationships & family
Legal
Consumer goods & services
Utilities & communication
Health & community care
Education
Other
Travel & transport
Discrimination & Hate & GVA
Immigration & asylum
Tax
0 1000 2000 3000 4000 5000 6000 7000
2020/21 Issues 2021/22 Issues
----- End of picture text -----

9

Income by funding source

Income by funding source

----- Start of picture text -----
£900,000
£800,000
£700,000
£600,000
£500,000
£400,000
£300,000
£200,000
£100,000
£0
2020/21
2021/22
Big Lottery Misc income Misc donations Rate relief
term income
Local Authority funding long term Government long term National Children's Bureau Local Authority funding short Bank interest & investment Town & Parish councils
----- End of picture text -----

Thanks

The CEO and Board of Trustees thank all the staff, volunteers and partners who have worked so hard this year to achieve these successes. Our people continue to be our biggest asset. In writing last year’s report, we never expected that we would still be in a pandemic a year later. Everyone has given more than 100 %, continuing with changed roles whilst working remotely. For those who joined in the last year, most haven’t even met their colleagues in person, but the team work and support given to each other has never changed. They are all outstanding.

We would like to thank all funders who have continued to support us:

10

o Money Advice Service Sub project: MaPS DAP - Increased capacity

A focus on Pension Wise

Citizens Advice Shropshire is one of 38 local Citizens Advice who have been delivering the government’s Pension Wise service for the last six years. Launched in April 2015, Pension Wise was a new guidance service set up to help people understand their options under the pension freedoms.

In partnership with Coventry Citizens Advice, Citizens Advice Dudley and Wolverhampton and Citizens Advice Worcester, Citizens Advice Shropshire delivers Pension Wise appointments to people aged 50 and over with a defined contribution pension.

Key statistics

For 2021/22, Pension Wise has delivered 106,487 appointments across the service in England, Wales and Northern Ireland.

People visiting Pension Wise have remained highly satisfied with the guidance they are receiving, with satisfaction ratings remaining consistently high. For 2021/22, Citizens Advice achieved a satisfaction score of 96%.

11

Who our clients are

----- Start of picture text -----
0-4
15-19
20-24
25-29
30-34
35-39
40-44
45-49
50-54
55-59
60-64
65-69
70-74
75-79
80-84
85-89
90-94
95-99
0 200 400 600 800 1000 1200
Total clients
Age Range
----- End of picture text -----

Following a year of remote working and concentrating our resources onto the phone, there has been a change in the demographics of our clients.

----- Start of picture text -----
Disability / Long-term health
6% 41% 53%
Disabled Long-term health condition Not disabled / no health problems
----- End of picture text -----

We have seen a 7% increase in people with long term health conditions, year on year; an increase in people who identify as female, and a decrease in people 65+.

12

The difference we make

The wider impact of the work we do

We can put a financial value on our role in:

(Source: Modelling the value of the Citizens Advice service in 2017)

Some of the financial outcomes accrue directly to individuals – this income is likely to be spent locally, benefiting local communities.

13

(Source: Financial modelling our value to society 2019/20 Greater Manchester Combined Authority’s - GMCA (formerly New Economy) cost benefit model)

Research and campaigns

With advice we help people solve a particular problem, whereas with research and campaigns work we tackle the cause of the problem and stop it from happening to others.

We use our clients’ experience and stories to campaign for positive change, speaking up about the policies and services that cause people problems. As a local Citizens Advice we can spot emerging issues early, and use our evidence to tackle the root cause of problems and improve services for us all.

The Board of CAS has recognised the importance of good research by agreeing to underwrite the funding of a research post that enables us to enhance our understanding of who needs our help, how we can best support them and what services make the most difference to them. We will continue to fill any gaps in our evidence base and give a voice to people’s concerns.

Increasing our understanding of people’s needs means we will be well placed to act with our partners as an ‘intelligent provider’ for commissioners, not just delivering services but also well-equipped to advise on and influence the shape of provision.

This year there were lots of different activities that happened as part of research and campaigns.

14

We continued campaigning on the existing Council Tax Support scheme. Additional Covid-19 support from government has meant that many of those on low incomes have not had to contribute their usual 20% charge for 2 years and now the Council have also agreed to review the Council Tax Reduction scheme for 2022/23.

We have also been a part of the ”Keep the lifeline” campaign on the loss of the £20 Universal Credit uplift government introduced at the beginning of the pandemic. This effort had an impact on the targeted support package introduced in May 2022.

In 2021/22 we also worked with Shropshire Food Poverty Alliance, Public Health and Health Watch Shropshire on research into food insecurity in South West Shropshire. This has been an important piece of research which has led to a number of recommendations to help reduce the impact of food insecurity in Shropshire and the barriers that people face.

Our policy work during 2021/22 also included working with partners and Shropshire Council on the Social Task Force to minimise the impact of the pandemic on the most vulnerable. Jackie Jeffrey, CEO, also chairs the Hardship & Poverty Subcommittee that feeds into the Social Task Force, this work has continued with the rising cost of living crisis, and support for households during the winter of 2021/22 and beyond.

Volunteerin with us g

The contribution of our volunteers brings real added value to the organisation worth over £186,141 if we had to pay them. But volunteering benefits our volunteers – they improve their skills, resilience, health and wellbeing, while strengthening community engagement.

Our volunteers continued to remote work during the pandemic although some were unable to continue with their volunteering whilst our offices have been closed. We would like to take this opportunity to thank these volunteers who left during the year for their hard work and commitment to the service and our clients and wish them all the best for the future.

Those working remotely have settled into the new ways of working and we now have a core of 20 volunteers active on the rota. Developing our digital skills has meant we have been able to create a supportive and effective volunteer team who have made such a difference to clients and by putting our resources on to the free Adviceline phone number – we have improved access to advice for those in remote areas or not able to get out of the home due to the pandemic. Again, a big thank you to these volunteers for their commitment and resilience during this time.

We have been working hard during the year to put all the training on line and develop recruitment, and training for new and existing volunteers and have had recruitment session for new volunteer assessors and specialist form fillers.

15

How did we do?

We had set a number of key objectives to achieve during 2021/22.

1. Introduce Work Force Development Plans to include:

2. Understanding what resource and support is needed to maintain Adviceline and the Single Point Of Referral

3. Review information technology and communication requirements to enable mobile and remote flexible working and resilience and invest in solutions that will future proof the organisation.

4. Consider options for business recovery taking account of government advice.

5. Develop a Comms Strategy keeping all stakeholders updated on what is happening including staff and volunteers, funders and clients and the general public.

6. Understanding the advice needs of the clients in the current crisis

Despite the continuing challenging work environment and the pandemic, we have achieved many of our key objectives. Feedback from regular well-being questionnaires and our annual people management survey demonstrated that we have supported the well-being of our staff, offering development opportunities and have now begun bringing many of our roles back in to the office. In developing a flexible work force, we have invested in new soft phone technology and cloud based working to make the most of flexible working and have now adopted a Flexible Working Policy to support this. We have created paid telephone assessor roles to support access to our service via the free telephone Adviceline, whilst developing community adviser roles for face to face services and moved our volunteer recruitment online to widen our volunteer offer. We have continued to work with all our stakeholders and had excellent results from our stakeholder survey. Training for staff included revewing welfare benefits and employment to ensure we were all up to date and developed a Money Advice Strategy for the county with our stakeholders.

16

We have achieved so much during the year, but it has not been without its challenges for everyone both professionally and personally. We have not achieved all we set out to do, but throughout the year we have mainted high quality accessible services to the residents of Shropshire and the rest of England though our funded programmes. As Chief Officer, I cannot begin to thank everyone enough for your dedication and commitment and everyone has given more than 100%.

You all continue to be marvellous and outstanding.

Ke ob ectives for 2022/23 y j

Whilst this annual report reflects back on 2021/22 and what we have achieved through the pandemic we cannot help but look to 2022/23 without recognising the even bigger challenges that face our clients and our service. The cost of living crisis will dominate the work we do moving forwards and our strategic plans. As our resources become even more strained, we have to ensure that they are targeted at those who need us most. We will therefore focus on:

17

Financial review

Transactions and financial position

The Statement of Financial Activities on page 28 shows an operating deficit for the year of £16,792, with total funds of £1,051,393 at 31 March 2022. The operating surplus in 2020/21 was £30,470 and total funds were £1,036,810 at 31 March 2021.

We continue to maintain good levels of working capital which allow us to manage short term volatility. We have a deposit account with the Nationwide, via Flagstone Deposits, to spread counterparty risk, ensuring that our cash deposits are covered as far as possible by the Financial Services Compensation Scheme.

Throughout 2021/22, our funders have continued with their financial support to us, and this enabled us to maintain our levels of service to clients.

Tangible fixed assets for use by the Charity

The details of movements in fixed assets are set out in note 10 to the accounts.

Reserves

The trustees reviewed the reserves policy during 2021/22, and determined to retain 6 months of operating costs in reserves in order to meet unexpected events (such as a significant loss of funding). The rationale for retaining 6 months of operating costs is that the charity has a number of partner contracts that have a 6 month break clause. As a result retaining 6 months of operating costs ensures that the charity can undertake an orderly wind up of the partner contracts as well as allowing time to secure alternative funding.

The policy is monitored and reviewed by the trustees annually. The amount of reserves is calculated from the annual budget and amounts to £500,000. Further details are disclosed in note 16 to the accounts.

The majority of the charity’s funds are represented by investment assets. Consequently the charity’s reserves are expected to generate an investment return which is used to support the continuing activities of the charity. In addition the trustees have decided that any additional funds in excess of the reserves policy shall also be invested for the long term and used to support infrastructure and other projects that the charity identifies in its 3 year strategic plan.

Investment policy and returns

The trustees reviewed and amended the investment policy during 2021/22.

Policy

The investment policy is dependent on the charity’s strategic plan as this outlines the plans and ambitions of the charity for the next 3 years in terms of both its operational activity and its plans for investment in projects and infrastructure investment. Consequently, the

18

policy needs to be reviewed annually in line with both the 3 year strategic plan and the annual budget.

The general investments are managed on a discretionary basis by an investment manager in such a way as to provide supplemental income for the charity. Where possible, trustees would like the value of the assets invested to be enhanced so that as a minimum they keep pace with inflation in the long term. The trustees are willing to take a long-term view with regard to the investment term, i.e. up to five years. It should, however, be noted that access to the invested funds should be available at short notice.

Income from the investments is paid into the charity’s bank account as and when the income falls due on a monthly basis and this is monitored by the charity.

Risk appetite

An approximate balance is to be maintained between the enhancement of capital and the generation of income and the trustees are willing to take a “medium risk” approach to the management of the assets.

Investments that fall within this category will include those investments that will carry a degree of volatility and will include UK and foreign blue chip equities and fixed interest securities. Such holdings are generally designed to be long-term investments and investors should be aware that there is a risk that the value of their investment may fall, and while access is granted to the investment itself, there is no guarantee upon encashment the value of the holding will not have fallen. These investments are suitable for those who are familiar with the risk and volatility usually associated with stock marketbased investments.

The trustees are required to review the Rathbones investment risk questionnaire on an annual basis.

Target investment return

The charity aims to achieve the following target returns:

Investment income: The income generated from the investments contributes to the operational running costs of the charity and that continues to be an important aspect of the investment performance. Historically we have achieved a return of up to 4% annually on the investment portfolio. Given the nature of investment markets we will look to achieve income return in the range of 2% to 4%.

Capital growth: The investment funds have 2 primary purposes from a capital perspective. Firstly, the capital is there to support the charity’s reserve requirements as set out in the charity’s reserves policy. Secondly, any capital value above this can be used to support activities.

19

Investment Parameters and Exclusions

The trustees have appointed Rathbones Investment Management on a discretionary mandate and so the investment portfolio can consist of both “collective” investments and individual holdings. In this way it is anticipated that the portfolio will be spread over a much wider number of holdings and therefore the overall investment risk will be spread as widely as possible.

If any alteration to the above is to be made then the trustees’ permission will be required.

Investment Performance

The charity will monitor the performance of the investment manager as follows.

Investment income: This measure will be based on the target investment return of 2% to 4% as outlined in section 5 above on an annual basis.

Capital growth: this will be measured quarterly against the performance of the MSCI PIMFA Balanced index.

Ethical Investment Statement

The Trustees have taken into account the guidance from the Charity Commission with respect to portfolio restrictions and exclusions and have sought to balance these against the Trustees’ fiduciary duty to preserve and grow the assets of the charity. The Trustees have decided that certain investment areas do not align with the objectives of the charities and as such will not invest directly in companies whose primary activity is in the following areas:

In a wider sense, the Trustees recognise the concept of ‘Responsible Investment’ (taking into account Environmental, Social and Governance – ESG – issues) and that this could reduce the risk associated with the investment portfolio and/or offer potential for enhanced returns. CAS requires its Investment Manager to incorporate these factors into their investment process and engage with companies on ESG matters, with the objective of enhancing returns, reducing risk or promoting best practice.

The trustees note that this will be an actively evolving element of the policy as stakeholder engagement increases and the investment industry develops its approach, achieves greater transparency and provides better tools to analyse exposures.

20

Going concern

The financial position and performance have been outlined in the financial review. The trustees have assessed our position and concluded that Citizens Advice Shropshire is wellplaced to meet our liabilities as they fall due and to manage the business risks we face.

This position is supported by a strong cash flow, sufficient reserves and good relationships with our funders. Our planning and reporting processes, including financial projections, take into consideration the current economic climate (including the effects of the Covid-19 pandemic) and its potential impact on our various sources of income and planned expenditure.

We have therefore adopted the going concern basis of preparation of these financial statements on the basis that we have concluded there is a reasonable expectation that we have sufficient resources to continue in operational existence for the foreseeable future, being at least 12 months from the date of approval of these financial statements

Directors and trustees

All directors of the Company are also trustees of the Charity, and there are no other trustees. The trustees are listed on page 2. The board has the power to appoint additional trustees as it considers fit within the terms of the Articles of Association.

Statement of internal control and risk management

The CEO and Chair of Trustees have a joint responsibility for maintaining a sound system of internal control that supports the achievement of CAS policies, aims and objectives.

This system of internal control is designed to manage risk to a reasonable level rather than to eliminate the risk of failure to achieve policies, aims and objectives: it can therefore only provide reasonable and not absolute assurance of effectiveness. The system of internal control is based on an ongoing process designed to identify and prioritise the risks to the achievement of CAS policies, aims and objectives, to evaluate the likelihood of those risks being realised and the impact should they be realised, and to manage them efficiently, effectively and economically. The system of internal control has been in place in CAS for the year ended 2021/22 and up to the date of approval of the annual report and accounts.

The trustee board conducted a review of the major risks to which the Charity is exposed and has also adopted a specific Covid-19 Risk Assessment for the pandemic, which was kept under regular review until April 2022 when all restrictions were lifted. Where appropriate, systems or procedures have been established to mitigate the risks the Charity faces. The CEO also reports to the trustees regular updates on key risks and milestones.

Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the organisation. The continuing implementation of Quality Mark Standards and of the Citizens Advice Membership Scheme ensures a consistent quality of delivery for all operational aspects of the Charity. These

21

procedures are periodically reviewed to ensure they continue to meet the needs of the Charity.

During 2021/22 the Risk Register showed that of the 45 major risks identified (% in brackets shows 2020/21 risk):

We no longer require any specific Covid 19 risk assessments

The current Risk Register is now undergoing a major review to include:

Whilst public policy is an external risk to our funding there is little we can actually do to mitigate this risk other than continue to demonstrate the public and social value of a free, confidential and impartial advice service and look for other sustainable sources of funding (if there are any). We continue to work with our partners and the Shropshire Voluntary & Community Sector Assembly (VCSA) in demonstrating our impact as preventive services.

Information technology is embedded in all the work we do including all our national Citizens Advice operating platforms for advice, case recording, management guidance and telephony so it is vital that we continually invest in our IT infrastructure and IT support. The move to home based service delivery led to swift changes in the technology used – increasing our use of Microsoft 365 to include Teams for video meetings, change to Outlook for emails, sharing information resources and for soft phones. We have secured cyber insurance for CAS through our existing provider and made it mandatory for all staff, volunteers and trustees to undertake remote working training so they are aware of the risks. Work is now being carried out on securing a new backup system for data to protect against potential hacking.

The local Citizens Advice trustee board oversees the information security of all personal information of our clients, staff, funders and strategic partners that is processed. CAS holds joint responsibility for client data that is held in our case management system, with the national Citizens Advice service. An information assurance management team exists to ensure the confidentiality, integrity and availability of all personal and sensitive data is

22

maintained to a level which is compliant with the requirements of the UK GDPR and Data Protection Act 2018.

The current cost of living crisis is a new threat and challenge, not just to our clients but to our service delivery and staff. We continue to review the impact of inflation on our budget and operational costs.

The organisation has a written business continuity plan which is reviewed regularly.

Statement of trustees' responsibilities

The trustees (who are also directors of Citizens Advice Shropshire for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting 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 state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Auditors

A resolution proposing the board re-appoint James, Holyoak & Parker Limited (JHP), as current Auditors for the Charity, will be put to the Annual General Meeting.

23 This report was approved by the board of directors and trustees on 22 september 2022 and signed on their behalf. Paul Langton Company Secretary

24

CITIZENS ADVICE SHROPSHIRE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS/TRUSTEES OF CITIZENS ADVICE SHROPSHIRE

Opinion

We have audited the financial statements of Citizens Advice Shropshire (the ‘charitable company’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Statement of Cash Flows, the Balance Sheet and notes to 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, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 Auditor’s 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 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 the trustees’ use of the going concern 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 to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern 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 concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Directors’ and Trustees’ report and accounts, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

25

CITIZENS ADVICE SHROPSHIRE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS/TRUSTEES OF CITIZENS ADVICE SHROPSHIRE (Continued)

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of 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:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 22, 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 internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

26

CITIZENS ADVICE SHROPSHIRE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS/TRUSTEES OF CITIZENS ADVICE SHROPSHIRE (Continued)

Auditor’s responsibilities for the audit of the financial statements

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 an auditor’s report that includes 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 misstatement 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 with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Charity and determined that the most significant are those that relate to the reporting framework (The Charities SoRP, FRS102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General Data Protection Regulation (GDPR).

We understood how the charitable company is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We assessed the susceptibility of the Charity’s financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was a susceptibility to fraud. Based on our understanding, our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

27 CITIZENS ADVICE SHROP5HIRE INDEPENDENT AUDITOR'S REPORTTO THE MEMBERSITRUSTEES OF CITIZENS ADVICE SHROPSHIRE (Continued) To draw attention in our auditorfs report to the related disc105ures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charitable companls members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable companls members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable companys members as a body. for our audit work, for (his report, or for the opinions we have formed. Robert Humphreys BEng FCA (Senior Statutory Auditor) for and on behalf of James. Holyoak & Parker Limited Chartered Accountants and Statutory Auditors 1 Knights Court Archers Way Battlefield Enterprise Park Shrewsbury Shropshire SY13GA

28

CITIZENS ADVICE SHROPSHIRE STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2022

Summary Income and Expenditure Account

Notes
Income from:
Donations & legacies
2
Income from charitable activities
3
Investment income
4
Total incoming resources
Expenditure on:
Charitable activities
5
Raising funds
6
Transfers between funds
7
Net income/(expenditure)
Other recognised
gains/(losses):
Realised gain/(loss) on fixed
asset investments
12
Unrealised gain/(loss) on fixed
asset investments
12
Net movement in funds
16
Reconciliation of funds:
Total funds brought forward
16
Total funds carried forward
16
Restricted
£
-
849,225
-		 Unrestricted
£

42,021

789,627

32,213		 Total

2022
£

42,021

1,638,852

32,213		 Total
2021
£

24,729

1,669,927

31,428

1,726,084

1,690,488

5,126
-
30,470

-
144,564

175,034

861,776

1,036,810
849,225
841,776
-
(15,474)
863,861

876,595

11,507

15,474
1,713,086

1,718,371

11,507

-
(8,025)
-
-
(8,767)

120,133

(88,758)
(16,792)

120,133

(88,758)
(8,025)
9,192
22,608

1,027,618
14,583

1,036,810
1,167
1,050,226
1,051,393

29

CITIZENS ADVICE SHROPSHIRE STATEMENT OF CASH FLOWS

AS AT 31 MARCH 2022

Notes
Cash flows from operating activities
Net cash generated by/(used in) operating
activities
18
Investing activities
Purchase of tangible fixed assets
11
Purchase of fixed asset investments
12
Income from UK listed fixed asset
investments
4
Interest received
4
Disposal of fixed asset investments
Net cash used in investing activities
Net increase in cash and cash
equivalents
Cash and cash equivalents at beginning of
year
Cash and cash equivalents at end of
year		 (4,254)
(107,110)
32,111
102
346,449		 2022
£
8,866
267,298
276,164
173,399
449,563		 (458)
-
31,355
73
40,183		 2021
£
(23,370)
71,153
47,783
125,616
173,399

30 CITIZEN5 ADVICE SHROPSHIRE BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Notes Fixed asset5 Tangible assets Investments 11,394 704,831 15,104 912,795 12 716,225 927,899 Current assets Debtors Cash at bank and in hand 13 377.585 449.563 378,460 173,399 827.148 551,859 Creditors: amounts falling due within one year 14 {491,9801 (442,948) Net current assets 335,168 108,911 Net assets 1,051,393 1,036,810 Charity funds Unrestrirted funds Restricted funds Revaluation surplus 881,397 1.167 168,829 770,031 9,192 257,587 1,051,393 1,036,810 These accounts are prepared in accordance with the provisions applicable to companies subjett to the small companies, regime, in accordance with Part 15 of the Companies Att 2006. The financial statements were approved and authorised for issue by the Board of Trustees on 22 September 2022 and signed on its behalf by: Chris Boote Director and Trustee Paul Langton Director and Trustee The notes on pages 31 to 41 form part of these financial statements. Company Registration Number: 04099352 IEngland & Wales}

31

CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1 Summary of significant accounting policies

1.1 General information and basis of preparation

Citizens Advice Shropshire is a private company limited by guarantee, and a registered charity in England / Wales. The company number is 04099352 (England & Wales), and the registered charity number is 1085220. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is Fletcher House, 15 College Hill, Shrewsbury, Shropshire, SY1 1LY. The nature of the charity’s operations and principal activities are that of support and advisory services for the benefit of the general public.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting 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 (FRS 102) effective 1 January 2019 , the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Unrestricted funds include a revaluation reserve representing the restatement of listed investments at market value.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.

1.3 Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Voluntary income is received by way of grants, donations and gifts, and is included in full in the Statement of Financial Affairs when receivable. Grants, where entitlement is not

32

CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant#

Where entitlement is dependent on the fulfilment of one or more specified conditions, grants received by the charity are recognised and taken into revenue unless the conditions are within the charity's control and uncertainty exists as to whether the conditions will be fulfilled.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers is not included in the financial statements.

Investment income is included as it becomes receivable.

1.4 Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

1.5 Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Computer equipment Over 3 years on a straight line basis Office equipment Over 10 years on a straight line basis Furniture Over 10 years on a straight line basis

1.6 Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding

33

CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably.

1.7 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at the present value of future cash flows (amortised cost). Financial assets held at amortised cost comprise cash at bank and in hand and debtors excluding prepayments.

Financial liabilities held at amortised cost comprise creditors excluding deferred income and taxation payable. Financial liabilities that are provisions are held at fair value. No discounting has been applied on the basis that the periods over which amounts will be settled are such that any discounting would be immaterial.

1.8 Leases

Rentals payable and receivable under operating leases are charged to the SoFA on a straight line basis over the period of the lease.

1.9 Pensions

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

1.10 Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

1.11 Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

1.12 Comparative Figures

The Charities SORP states that financial statements must include comparatives for all amounts presented in the accounts and notes. However comparative figures included in these financial statements have been presented as total funds and have not been split into separate funds. The trustees consider that to do so would make the financial statements potentially confusing. If required, a full breakdown of comparative figures can be found on the register at Companies House.

34

CITIZENS ADVICE SHROPSHIRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2 Income from donations and legacies

Restricted
£
Town Council grants
-
Parish Council grants
-
Donations
-
-
3
Income from charitable activities
Restricted
£
Government and local authority
funding
814,273
Big Lottery
34,643
Grants for services and project
income
-
Other income related to projects
309
849,225
4
Income from investments
Restricted
£
Income from UK listed fixed asset
investments
-
Interest received on bank deposits
-
-		 Restricted
£
-
-
-		 Unrestricted
£
13,000
2,025
26,996		 Total

2022
£

13,000

2,025

26,996		 Total
2021
£

5,800

230

18,699

24,729
Total
2021
£

1,620,245

33,352

5,200

11,130

1,669,927
Total
2021
£

31,355

73

31,428
- 42,021
42,021
Unrestricted
£

770,167

-

14,706

4,754		 Total

2022
£

1,584,440

34,643

14,706

5,063
849,225
789,627
1,638,852
Restricted
£
-
-		 Unrestricted
£
32,111
102		 Total

2022
£

32,111

102
- 32,213
32,213

3 Income from charitable activities

4 Income from investments

35

CITIZENS ADVICE SHROPSHIRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

5 Analysis of expenditure on charitable activities

Costs directly allocated to
activities
Salaries & wages (note 10)
Travel & training
Reference books & software
Publicity
Telephone
Printing, postage & stationery
Recruitment
Room hire
Meeting expenses
Project partner payments
Support costs
Repairs & renewals
Cleaning
Audit
Legal & professional fees
Insurance
Depreciation and loss on disposals
Profit on disposals of investments
(see note 12)
Rent, rates, service charges &
utilities
IT support
Sundries		 Restricted
£
367,370
370
1,684
-
1,137
2,215
250
250
-
429,463
330
1,263
-
7,770
40
-
-
14,805
13,067
1,762		 Unrestricte
d
£

488,596

2,498

4,472
420

2,104

3,578

375

26
-

277,406

726

1,971
2,556

2,748

4,949
7,963
-

30,571

37,427

8,209		 Total
2022
£
855,966
2,868
6,156
420
3,241
5,793
625

276

-
706,869
1,056
3,234
2,556
10,518
4,989
7,963

-
45,376
50,494
9,971		 Total
2021
£
801,061
1,367
2,349
806
8,348
13,067
698
-
-
736,073
1,016
2,425
2,556
3,030
4,736
11,599
(7,872)
43,623
19,623
45,983
1,690,488
841,776
876,595		 1,718,371

6 Analysis of expenditure on raising funds

Legal & professional fees Restricted
£
-		 Unrestricted
£
11,507		 Total

2022
£

11,507		 Total
2021
£

5,126

36

CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

7 Contributions to general overheads

7
Contributions to general overheads
Overhead costs apportioned to restricted funds from general
funds
Adjustments on restricted project fund balances
8
Net income for the year
Net income is stated after charging:
Depreciation of tangible fixed assets owned by the charity
(Gain)/loss on disposal of fixed asset investments
Fees payable to the charity’s auditor for the audit of the charity’s
annual accounts
Fees payable to the charity’s auditor for other services		 Total
2022
£
46,017
(30,543)
15,474		 Total
2021
£

45,195
(1,922)

43,273
2022
£
7,963
(120,133)
2,556
1,150		 2021
£

11,599
(7,872)

2,556

1,050

9 Trustees' and key management personnel remuneration and expenses

No remuneration was paid to trustees during the year.

Remuneration paid to key management personnel was as follows:

2022
2021
Number
Number
5
5
The reimbursement of trustees’ expenses was as follows:
2022
2021
Number
Number
Travel and subsistence
-
-		 2022
Number
5		 2021
Number
5		 2022
£
166,214
2022
£
-		 2021
£
164,600
2021
£
-

The reimbursement of trustees’ expenses was as follows:

37

CITIZENS ADVICE SHROPSHIRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

10 Staff costs and employee benefits

The average monthly number of employees and full time equivalent (FTE) during the year was as follows:

Charitable activities
Governance
The total staff costs and employees
Wages and salaries
Redundancy costs
Social security costs
Defined contribution pension
costs		 2022
Number
35
2		 2022
FTE

26
2		 2021
Number

35

2		 2021
FTE
25
2
11
2021
£

707,969

-

54,109

38,983

801,061
37
28
37
2022
£
746,595
9,306
57,633
42,432
855,966

The total staff costs and employees benefits were as follows:

No employee received total employee benefits of more than £60,000.

38

CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

11 Tangible fixed assets

Computer &
office eq't
£
Cost or valuation:
At 1 April 2021
41,144
Additions
4,254
Disposals
-
At 31 March 2022
45,398
Depreciation:
At 1 April 2021
29,221
Charge for year
6,637
Eliminated on disposal
-
At 31 March 2022
35,858
Net book value:
At 1 April 2021
11,923
At 31 March 2022
9,540
12 Fixed asset investments
UK listed investments
Market value at 1 April 2021
Additions
Disposals
Changes in market value
Market value at 31 March 2022
Realised profits/(losses) on disposal of fixed asset investments		 Computer &
office eq't
£
41,144
4,254
-
Furniture
£

84,963

-

-		 Total
£

126,107
4,254
-

130,361

111,003

7,964
-

118,967

15,104

11,394
2021
£

800,542

-
(32,311)
144,564

912,795

-
45,398
84,963
29,221
6,637
-
81,782

1,327

-
35,858
83,109
11,923
3,181
9,540
1,854
2022
£
912,795
107,110
(226,316)
(88,758)
704,831
120,133

39

CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

During the year, the charity changed its investment portfolio manager. This has resulted in a disposal of some long term historic investments on the transfer of funds to the new investment broker. The resultant profit on disposal of £120,133 distorts the routine "trading" picture of the SOFA, and consequently the realised profit on disposal has been shown as a separate item on the face of the SOFA. This treatment makes the financial statements provide a clearer picture of the actual core activities of the charity.

Historically, the charity has rarely sold investments, and the profit on the disposal of one investment in the prior period is immaterial. Therefore no prior period adjustment has been made to re-allocate this amount (see note 5.)

13 Debtors

13 Debtors
Other debtors
Prepayments		 2022
£
323,370
54,215		 2021
£

326,147

52,313

378,460
377,585

14 Creditors: amounts falling due within one year

Social security and other taxes
Accruals and other creditors
Deferred income		 2022
£
14,364
120,301
357,315		 2021
£

14,423

98,275

330,250

442,948
491,980

Deferred income relates to amounts receivable in respect of charitable income at the balance sheet date that relates to charitable activities undertaken after the balance sheet date. 15 Analysis of net assets between the funds

Fixed assets
Net current assets		 Unrestricted
funds
£
47,396
334,001		 Designated
funds
£

500,000

-		 Revaluation
fund
£

168,829
-
Restricted
funds
£

-

1,167		 Total
£
716,225

335,168

1,051,393
381,397
500,000
168,829
1,167

40

CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

16 Fund reconciliation

As at
1 April 2021
£
Unrestricted:
General reserve
270,031
Designated funds:
Business continuity
reserve
500,000
Total unrestricted
funds
770,031
Revaluation funds:
In respect of fixed
asset investments
257,587
Restricted funds:
Pension Wise
1,712
Money Advice
Service - Debt Advice
-
MAS - Debt Advice
Inc Capacity
-
DARG
-
Best Practice Lead
214
Help to Claim UC
Support
584
My Money Matters
6,682
SC Covid Support
Grant
-
Total restricted
funds
9,192
Total funds
1,036,810		 As at
1 April 2021
£
270,031
500,000		 Income
£

863,861

-		 Expenditure
&
gains/
(losses)
£

(767,969)
-		 Transfers
£

15,474
 As at
31 March
2022
£

381,397
500,000
770,031
863,861
(767,969)		 15,474
881,397
257,587
-		 (88,758) - 168,829

551,641
113,234
20,775
31,323

32,730

62,152

34,643
2,727
(540,008)

(132,279)

(25,691)

(26,774)

(29,089)

(66,254)

(21,681)

-
(13,345)

19,045

4,916

(4,549)

(3,855)

(5,788)

(9,171)

(2,727)		 -

-

-
-
-
(9,306)
10,473
-
9,192
849,225
(841,776)		 (15,474) 1,167
1,036,810
1,713,086
(1,698,503)		 - 1,051,393

41

CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

17 Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Not later than one year
18 Cash generated from operations
Net income/(expenditure) for the year (as per SoFA)
Adjustments for:
Depreciation
Loss on disposal of tangible fixed assets
Loss on disposal of UK listed fixed asset investments
Income from UK listed fixed asset investments
Interest receivable
Movement in working capital:
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
Net cash (used in) operating activities		 2022
£
20,640		 2021
£

20,640
2021
£
30,470

11,599
-
(7,872)
(31,355)
(73)

10,438

(36,577)

(23,370)
2022
£
(16,792)
7,964
-
-
(32,111)
(102)
875
49,032
8,866

19 Related party transactions

No material transactions with related parties occurred during the year .

Free, confidential advice. Whoever you are.

We help people overcome their problems and campaign on big issues when their voices need to be heard. We value diversity, champion equality, and challenge discrimination and harassment. We’re here for everyone.

Citizens Advice Shropshire. Charity registration number 1085220. Company limited by guarantee. Registered number 4099352 England. Authorised and regulated by The Financial Conduct Authority – FRN: 617564. Registered office: Fletcher House, 15 College Hill, Shrewsbury SY1 1LY

cabshropshire.org.uk citizensadvice.org.uk

Published September 2022

Registered charity number 108522