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2023-03-31-accounts

Directors’ and Trustees’ report and accounts For the year ended 31 March 2023

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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 10
Thanks 10
A focus on Pension Wise 11
Who our clients are 12
The difference we make 13
The wider impact of the work we do 13
Research and campaigns 14
Citizens Advice Shropshire is proud to support the LGBTQ+ community 14
Volunteering with us 15
How did we do? 15
Key objectives for 2023/24 16
Financial risk and reserves policy 17
Report of the auditors 24
Statement of financial activities 28
Balance sheet 30
Notes to the financial statements 31

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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) Andy Howitt (Vice-Chair – current from 24/01/23) Penny Cooper Joanne Harrison Tony Hinkley Judith Lancaster (Co-opted 23/05/23) Paul Langton Elaine Williams (Co-opted 25/07/23) Frances Beck (Resigned 28/10/22) Julie Bertolini (Resigned 22/05/23) Andy Brenan (Resigned 01/09/23) Bethan Cross (Resigned 26/11/22) Andrew Philpott (Resigned 03/07/23) 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) Nick Willis (from 01/12/22) 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

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Auditors James, Holyoak & Parker Limited 1 Knights Court, Archers Way, Battlefield Enterprise Park, Shrewsbury SY1 3GA

Investment Advisers

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

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Introduction from the Chair

There is little doubt that 2022-23 was one of the most challenging years in Citizens Advice Shropshire’s history.

We have all seen the effects of the cost of living crisis over the past year, with significant rises in the day to day essentials of food, fuel, and housing costs and heating. In Shropshire, as elsewhere in the country, these price increases have hit the poorest and most vulnerable the hardest. Demand for our services has grown and in 2022-23 we helped over 10,000 clients. We have always worked in partnership with other service providers in the voluntary sector and I am pleased we were able to take on the role as host for the Shropshire Food Poverty Alliance, working closely with food banks to help people affected by food insecurity.

Many people don’t always realise that our policy work is an important strand to our work. By gathering data and evidence, we strive to influence policy makers, both locally and nationally. Although the government stepped in to support people, we know from research we started to undertake in late 2022 that not everyone was able to get the help they needed and sometimes the most vulnerable in our communities ‘fell through the gaps’. The rurality of Shropshire and digital exclusion create challenges that are difficult to overcome. Our research is helping us to make the case for improving how vulnerable people can access support.

None of what we do would be possible without the commitment of our fantastic team of volunteers and paid staff, who show amazing resilience and creativity, day in and day out. We are led by a Board of Trustees – all volunteers - who provide strategic oversight and support to ensure we maintain our reputation as a well-run charity.

Our funders are just as important and they provide us with the financial stability to deliver services and respond to the changing needs of the people we serve.

As Chair I’d like to place on record my thanks to everyone who has helped us in the past year. Every contribution, big or small, makes a difference.

Chris Boote

Chair

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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,

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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 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, the 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 2 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 over 250 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 2022/23 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

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through a Senior Management Team (SMT), comprising the CEO, Advice Services Manager - Generalist Service, Advice Services Manager - Specialist Service, Advice Services Manager - Partnerships, 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. All 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 2022/2023 this has been via our free telephone advice line, with provision for face to face appointments for those who need it. 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 donations.

IASS service provides information, advice and support services 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.

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.

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Outreach services for 2022/2023 have been by phone and / or face-to-face as Covid restrictions changed and we were able to re-open some of our outreaches for face-to-face services. We have made special arrangement to ensure our most vulnerable clients have been helped and have referral protocols in place for organisations to refer vulnerable clients in to CAS via our Single Point of Referral (SPOR).

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 best next step for the client, depending on the enquiry and advice required.

During 2022/23 we have been able to increase our capacity for our Policy Work through Shaping Places Healthy Lives funding (Local Government Association & Health Foundation) and hosting the Shropshire Food Poverty Alliance. Both these projects focus on influencing policy decisions locally that impact on food insecurity and have been pivotal in the County’s response to the cost of living crisis and support for vulnerable people.

During 2022/23 the CEO has chaired the Hardship & Poverty Group, part of the Shropshire Social Task Force which was set up to work in partnership across all sectors, to identify those most impacted by the cost of living crisis and to target support for those most in need.

Our Single Point of Referral (SPOR) on 01743 280019 continues to be a vital 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.

As we have come out of Covid restrictions, many staff have now come back in to the office to work. However, we continue to support a flexible approach to hybrid working where we can, depending on business need.

Client roblems p

The most significant change is in the number of unique clients seen this year, with a rise of 3,134 from 7,109 in 2021/22 to 10,243. This is mainly due to our increased capacity for Universal Credit: Help to Claim and Pension Wise projects. As these are national call centres, we have seen a sharp rise in the number of clients helped outside the county of Shropshire which, in turn, has also had some impact on our client demographics.

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Number of Unique Clients 2021/22 and 2022/23

----- Start of picture text -----
Utilities & communication
Travel & transport
Tax
Relationships & family
Other
Legal
Immigration & asylum
Housing
Health & community care
Financial services & capability
Employment
Education
GVA & Hate Crime
Debt
Consumer goods & services
Charitable support and Food banks
Benefits Universal Credit
Benefits & tax credits
0 500 1000 1500 2000 2500 3000 3500
2021/22 Clients 2022/23 Clients
----- End of picture text -----

Issues Change

Again, we can see the impact of our national funded projects, showing rising numbers for Universal Credit and Financial Services. Excluding Help to Claim and Pension Wise, the biggest change is in Employment (reducing numbers on discrimination, terms and conditions and dispute resolution). See chart below.

The impact of the cost of living crisis is demonstrated in the statistics below . The reduction in non-priority debt reflects the trend that we only have capacity to deal with clients’ priority debt and the reduction in fuel debts may reflect the support people have had in the last 12 months. January 2023 saw the highest number of calls to Shropshire’s telephone Advice Line, reflecting the growing cost of living crisis.

----- Start of picture text -----
Number of Issues 2021/22 and 2022/23
Utilities & communication
Travel & transport
Tax
Relationships & family
Other
Legal
Immigration & asylum
Housing
Health & community care
Financial services & capability
Employment
Education
GVA & Hate Crime
Debt
Consumer goods & services
Charitable support and Food banks
Benefits Universal Credit
Benefits & tax credits
0 2000 4000 6000 8000 10000 12000 14000
2021/22 Issues 2022/23 Issues
----- End of picture text -----

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Income by funding source

----- Start of picture text -----
Income by funding source
£1,000,000
£900,000
£800,000
£700,000
£600,000
£500,000
£400,000
£300,000
£200,000
£100,000
£0
2021/22 2022/23
Big Lottery Misc income Misc donations Rate relief
term term income
Local Authority funding long Government long term National Children's Bureau Local Authority funding short Bank interest & investment Town & Parish councils
----- End of picture text -----

Thanks

It has been a challenging year, as clients’ cases become more complex and advisers reflect that people’s problems are becoming too big to resolve, with growing rent and mortgage arrears, higher energy bills and more referrals for crisis support, including Foodbanks. The CEO and Board of Trustees thank all the staff, volunteers and partners who have worked so hard this year to support our clients. Our people continue to be our biggest asset and, whatever their role, have shown true commitment, care and compassion through the year.

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

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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 8 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 2022/23, Pension Wise has delivered 113,023 client transactions 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 2022/23, Citizens Advice achieved a satisfaction score of 96%.

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Who our clients are

----- Start of picture text -----
100-104
95-99
90-94
85-89
80-84
75-79
70-74
65-69
60-64
55-59
50-54
45-49
40-44
35-39
30-34
25-29
20-24
15-19
10-14
0 200 400 600 800 1000 1200 1400 1600 1800
2021/22 Clients 2022/23 Clients
----- End of picture text -----

The number of clients seen in all age ranges has increased, but the percentage in each group has been consistent year on year.

Disability / Long-term health

----- Start of picture text -----
5% 46% 49%
Disabled
Long-term health condition
Not disabled / no health problems
----- End of picture text -----

We have seen a 5% increase in people with long term health conditions, year on year.

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The difference we make

----- Start of picture text -----
8 in 10 9 in 10
9 in 10
8 in 10 people said their people said we
people said they problem was helped them find people said they
found it easy to resolved a way forward would
recommend the
access the service following our
advice service
----- End of picture text -----

Source: Client satisfaction survey 2022/23

The wider impact of the work we do

We can put a financial value on our role in:

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

(Source: Data from Citizens Advice financial modelling tool 2022-23)

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Research and campaigns

No one else sees so many people with so many different kinds of problems. That gives us a unique insight into the challenges people are facing today. We use our clients’ experiences and stories to campaign for positive change. We speak up about the policies and services that cause people problems.

The Board of CAS has recognised the importance of good research by investing in a research post that will enable 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 our research and campaign work focused on the ongoing cost-of-living crisis. As an active member of the Social Taskforce, we took part in the consultation on the allocation of the Household Support Fund. We helped to target the fund to those who needed it the most.

We helped establish a communications group and develop key messages that would be shared universally by stakeholders to reassure people about support available. We took part in creating a cost-of-living website, key social media posts and leaflets to spread the word about the support available in Shropshire.

In collaboration with the Shropshire Food Poverty Alliance, we surveyed and interviewed people in Shropshire about access to support around the cost of living. This fed into a report that was released in June 2023.

Citizens Advice Shropshire is proud to support the LGBTQ+ community

When we say we are here for everyone, whoever they are and whatever their problem, we mean it - and we recognise that not everyone is the same. Equality, diversity and inclusion are at the heart of our work. This is why we were the first organisation to sign up for The Covenant - a project created by Safe Ageing No Discrimination (SAND). We are actively taking practical actions to ensure our service is welcoming and inclusive.

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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 too – they improve their skills, resilience, health and wellbeing, while strengthening community engagement.

Our volunteers continued to remote work during the pandemic, though some were unable to continue with their volunteering whilst our offices were closed. We would like to take this opportunity thank those 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 25 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. We have held a recruitment session for new volunteer assessors and specialist form fillers.

How did we do?

We had set a number of key objectives to achieve during 2022/23.

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Ke ob ectives for 2023/24 y j

The cost of living crisis will dominate the work we do moving forwards and, as most of our funding is due for recommissioning, our priorities will be directed to preparing for this. Other strategic aims include:

Strategic aim A: Improve service for vulnerable adults and support disadvantaged

and hard to reach communities. This will include developing our community adviser team in the north and south of the county and Advice First Aid training, getting ready for commissioning and proving impact.

Strategic aim B: Support and develop our paid staff and volunteers including

introducing an Employee Assistance Programme, succession planning and review of volunteer roles and policies.

Strategic aim C: To maintain financial security and growth. The majority of our funding is due for recommissioning during 2023/24.

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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

In previous years the trustees have 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. As at 31 March 2022 this reserve was calculated to be £500,000.

The policy is monitored and reviewed by the trustees annually. As part of the budget approval for 2023/24 in March 2023, the Trustee Board agreed to allocate additional reserves over and above 6 months of operating costs. As a result, as at 31 March 2023, the following designated reserves have been determined.

  1. 6 months of operating costs - the amount calculated for 31 March 2023 is £600,000 based on the 2023/24 budget.

  2. IT Reserve – as at 31 March 2023 £30,000 has been set aside for expenditure expected to be incurred in upgrading the IT infrastructure of the company.

  3. Support for future contract negotiations – during the next 2 years there are a number of contract re-negotiations to be undertaken. This reserve has been provided to ensure that there is sufficient capacity within the senior management team to complete the re-tendering processes. A reserve of £20,000 has been provided for this.

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  1. Succession planning – a number of single points of weakness exist within the organisational structure, which need to be reviewed and determined how best to provide adequate cover. A reserve of £50,000 has been provided for this.

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.

The charity’s investments are outlined in its investment policy which states that the primary objective is to generate an income stream to support the charity’s day to day operational activities, whilst maintaining the capital value of the investments.

This reserves policy is reviewed annually alongside its 3-year Strategic Plan, annual budget and investment policy.

Investment policy and returns

The trustees reviewed and amended the investment policy during 2022/23.

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. Consequently, the 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 appropriate 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

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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 4.0% annually on the investment portfolio. Given the nature of investment markets we will look to achieve an investment 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 the operational activities.

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 organisation is in the process of reviewing its Environmental policy, including Ethical Investments, and once this review has been completed the impact, if any, on Investment policy will be assessed

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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.

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.

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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 2022/23 and up to the date of approval of the annual report and accounts.

In January 2023, the trustee board conducted a review of the major risks to which the Charity is exposed which are kept under regular review. 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 at Operations and Finance sub committees and full board meetings.

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

During 2022/23 the Risk Register showed that of the 30 major risks identified:

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

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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 is it 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 individual cyber insurance 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 for applying for Cyber Essentials accreditation.

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 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 the inflation on the budget and operational costs. One area of concern is the lack of COL rise in most of our grants and contracts, leading to more stress on our reserves.

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:

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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:

This report was approved by the board of directors and trustees on 26 September 2023 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 2023 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other

25

CITIZENS ADVICE SHROPSHIRE

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

information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

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 in relation to which the Charities (Accounts and Reports) Regulations 2008 require 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.

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

26

CITIZENS ADVICE SHROPSHIRE

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

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 company is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 SHROPSHIRE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS/TRUSTEES OF

CITIZENS ADVICE SHROPSHIRE (CONTINUED)

audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.

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 company’s members, as a body, in accordance with section 391 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Humphreys BEng FCA (Senior Statutory Auditor) for and on behalf of James, Holyoak & Parker Limited Chartered Accountants and Statutory Auditors

DATE:

1 Knights Court Archers Way Battlefield Enterprise Park Shrewsbury Shropshire SY1 3GA

28

CITIZENS ADVICE SHROPSHIRE

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2023

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
£
-
1,075,742
-		 Unrestricted
£

41,254

830,541

23,691		 Total
2023
£

41,254

1,906,283

23,691		 Total
2022
£

42,021

1,638,852

32,213

1,713,086

1,718,371

11,507

-
(16,792)

120,133
(88,758)
14,583

1,036,810

1,051,393
1,075,742
1,012,399
-
(44,480)
895,486

974,820

12,040
44,480
1,971,228

1,987,219

12,040

-
18,863
-
-
(46,894)

132,584

(173,485)		 (28,031)

132,584
(173,485)
18,863
1,167
(87,795)

1,050,226		 (68,932)

1,051,393
20,030
962,431
982,461

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

29

CITIZENS ADVICE SHROPSHIRE

STATEMENT OF CASH FLOWS

AS AT 31 MARCH 2023

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
(1,006)
(789,305)
21,799
1,892
589,797		 2023
£
(51,963)



(176,823)		 (4,254)
(107,110)
32,111
102
346,449		 2022
£
8,866



267,298
276,164
173,399
449,563


(228,786)
449,563
220,777
-

30

CITIZENS ADVICE SHROPSHIRE BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling
due within one year
14
Net current assets
Net assets
Charity funds
Unrestricted funds
16
Restricted funds
16
Revaluation surplus
16		 399,043
220,777		 2023
£
7,936
863,438


377,585
449,563		 2022
£
11,394
704,831
716,225



335,168
1,051,393
881,397
1,167
168,829
1,051,393
-
871,374



111,087
619,820
(508,733)		 827,148
(491,980)




982,461
967,087
20,030
(4,656)
982,461
-

These accounts are prepared in accordance with the provisions applicable to companies subject to the small companies' regime, in accordance with Part 15 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Trustees on 26 September 2023 and signed on its behalf by:

Chris Boote Paul Langton Director and Trustee Director and Trustee

The notes on pages 31 to 45 form part of these financial statements. Company Registration Number: 04099352 (England & Wales)

31

CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

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.

32

CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

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 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 dependant 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, 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.

33

CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 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.

34

CITIZENS ADVICE SHROPSHIRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

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.

2 Income from donations and legacies

Town Council grants
Parish Council grants
Donations		 Restricted
£
-
-
-		 Unrestricted
£

7,297

4,158

29,799		 Total

2023
£

7,297

4,158

29,799

41,254		 Total
2022
£
13,000
2,025
26,996
42,021
-
41,254

3 Income from charitable activities

Government and local authority
funding
Big Lottery
Grants for services and project
income
Other income related to projects
Income from investments
Income from UK listed fixed asset
investments
Interest received on bank deposits		 Restricted
£
1,046,996
28,746
-
-		 Unrestricted
£

805,022

-

20,837

4,682		 Unrestricted
£

805,022

-

20,837

4,682



Total
2023
£
1,852,018
28,746
20,837
4,682
1,906,283
Total
2023
£

21,799

1,892		 Total
2022
£
1,584,440
34,643
14,706
5,063
1,638,852
Total
2022
£

32,111

102
1,075,742 830,541
-
23,691
23,691
32,213

4 Income from investments

35

CITIZENS ADVICE SHROPSHIRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

5 Analysis of expenditure on charitable activities

Restricted
£
Costs directly allocated to
activities
Salaries & wages (note 10)
431,239
Travel & training
1,451
Reference books & software
207
Publicity
-
Telephone
166
Printing, postage & stationery
2,783
Recruitment
2,031
Room Hire
1,087
Meeting expenses
21
Project partner payments
544,787
Support costs
Repairs & renewals
345
Cleaning
1,223
Audit
-
Legal & professional fees
3,214
Insurance
37
Depreciation and loss on disposals
-
Profit on disposals of investments
(see note 12)
-
Rent, rates, service charges &
utilities
13,854
IT support
7,700
Sundries
2,254
1,012,399
Analysis of expenditure on raising funds
Restricted
£
Legal & professional fees
-		 Restricted
£
431,239
1,451
207
-
166
2,783
2,031
1,087
21
544,787
345
1,223
-
3,214
37
-
-
13,854
7,700
2,254		 Unrestricted
£

572,879

6,216

151

925

665

6,300

1,263

930

1,596

280,735

2,950

2,011

2,556

7,766

7,441

3,169

-

28,239

37,928

11,100		 Total

2023
£

1,004,118

7,667

358

925

831

9,083

3,294

2,017

1,617

825,522

3,295

3,234

2,556

10,980

7,478

3,169

-

42,093

45,628

13,354		 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

1,718,371
Total
2022
£

11,507
1,012,399
974,820
1,987,219
Unrestricted
£

12,040		 Total

2023
£

12,040

6 Analysis of expenditure on raising funds

36

CITIZENS ADVICE SHROPSHIRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

7 Contributions to general overheads

Overhead costs apportioned to restricted funds from general
funds
Adjustments on restricted project fund balances		 Total
2023
£
71,936
(27,456)		 Total
2022
£
46,017
(30,543)
44,480 15,474

8 Net income for the year

Net income is stated after charging:
Depreciation of tangible fixed assets owned by the charity
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		 2023
£
3,169
(132,584)
2,556
1,720		 2022
£
7,963
(120,133)
2,556
1,150

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:

2023 2022 2023 2022
Number Number £ £
5 5 174,118 166,214

The reimbursement of trustees’ expenses was as follows:

2023 2022 2023 2022
Number Number £ £
Travel and subsistence 2 - 852 -

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		 2023
Number
39
2		 2023
FTE

30

2		 2022
Number
35
2		 2022
FTE
26
2
41
32		 37 28

37

CITIZENS ADVICE SHROPSHIRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

The total staff costs and employees benefits were as follows:

he total staff costs and employees benefits were as follows:
Wages and salaries
Redundancy costs
Social security costs
Defined contribution pension costs		 2023
£
884,387
-
72,325
47,406		 2022
£

746,595
9,306

57,633

42,432

855,966
1,004,118

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

11 Tangible fixed assets

Cost or valuation:
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation:
At 1 April 2022
Charge for year
Eliminated on disposal
At 31 March 2023
Net book value:
At 1 April 2022
At 31 March 2023		 Computer &
office eq't
£
45,398
1,006
-
Furniture
£

84,963

-
-		 Total
£

130,361
1,006
-
46,404
84,963
131,367
35,858
4,068
-
83,109

396
-
118,967

4,464
-
39,926
83,505
123,431
9,540
1,854
11,394
6,478
1,458
7,936

38

CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

12 Fixed asset investments

UK listed investments
Market value at 1 April 2022
Additions
Disposals
Changes in market value
Market value at 31 March 2023
Realised profits/(losses) on disposal of fixed asset investments		 2023
£
704,831
789,305
(457,213)
(173,485)
863,438
132,584		 2022
£
912,795
107,110
(226,316)
(88,758)
704,831
120,133

13 Debtors

3 Debtors
Other debtors
Prepayments		 2023
£
340,883
58,160		 2022
£

323,370

54,215

377,585
399,043

14 Creditors: amounts falling due within one year

Social security and other taxes
Accruals and other creditors
Deferred income		 2023
£
17,121
100,881
390,731		 2022
£

14,364

120,301

357,315

491,980
508,733

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
£
151,935
91,057		 Designated
funds
£
724,095
-		 Revaluation
fund
£

(4,656)

-
Restricted
funds
£
-
20,030		 Total
£

871,374

111,087

982,461
242,992 724,095
(4,656)		 20,030

39

CITIZENS ADVICE SHROPSHIRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

16 Fund reconciliation

As at
1 April
2022
£
Unrestricted:
General reserve
381,397
Designated funds:
Business continuity
reserve
500,000
My Money Matters
residual funds
-
Cyber security reserve
-
Support for future contract
tendering
-
Workforce development
reserve
-
Total unrestricted funds
881,397
Revaluation funds:
In respect of fixed asset
investments
168,829
Restricted funds:
Pension Wise
-
Money Advice Service -
Debt Advice
-
DARG
-
Help to Claim UC Support
(9,306)
My Money Matters
10,473
Shropshire Food Poverty
Alliance
-
Shaping Places
-
Total restricted funds
1,167
Total funds
1,051,393		 As at
1 April
2022
£
Unrestricted:
General reserve
381,397
Designated funds:
Business continuity
reserve
500,000
My Money Matters
residual funds
-
Cyber security reserve
-
Support for future contract
tendering
-
Workforce development
reserve
-
Total unrestricted funds
881,397
Revaluation funds:
In respect of fixed asset
investments
168,829
Restricted funds:
Pension Wise
-
Money Advice Service -
Debt Advice
-
DARG
-
Help to Claim UC Support
(9,306)
My Money Matters
10,473
Shropshire Food Poverty
Alliance
-
Shaping Places
-
Total restricted funds
1,167
Total funds
1,051,393		 Income
£

895,486

-
-
-
-
-		 Expenditure
& gains/
(losses)
£
(854,276)
-
-
-
-
-		 Transfers
£
(179,615)
100,000
24,095
30,000
20,000
50,000		 As at
31 March
2023
£
242,992

600,000

24,095

30,000

20,000

50,000

967,087
(4,656)
251

-
-
(5,947)
-
6,344
19,382
20,030
982,461
881,397
895,486		 (854,276) 44,480
168,829
-		 (173,485) -
-
-
-
(9,306)
10,473
-
-		 681,856
105,956
18,677
155,357

28,746
45,150
40,000		 (664,044)
(123,995)
(18,639)
(137,317)
(17,715)
(33,506)
(17,183)		 (17,561)
18,039
(38)
(14,681)
(21,504)
(5,300)
(3,435)
1,167
1,075,742		 (1,012,399) (44,480)
1,051,393
1,971,228		 (2,040,160) -

40

CITIZENS ADVICE SHROPSHIRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

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		 2023
£
18,825		 2022
£
20,640
2022
£
(16,792)
7,964
-
-
(32,111)
(102)
875
49,032
2023
£
(28,031)
4,464
-
-
(21,799)
(1,892)
(21,458)
16,753






(51,963) 8,866

19 Related party transactions

No material transactions with related parties occurred during the year .

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