Charity reglstration number 1085220 (England and Walesl Company registratlon number 04099352 CITIZENS ADVICE SHROPSHIRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
CITIZENS ADVICE SHROPSHIRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Chris Boote (Chair) Andy Howitt Joanne Harrison Tony Hinkley Paul Langton Secretary Paul Langton Senior management Jackie Jeffrey Alison Alexander lona Aylen Dawn Ray Rachel Storey Nick W'llis Harriet Hunt Chief Executive Officer Specialist Services Manager Generalist Services Manager Business Support Manager Finan Manager (appointed 12 June 2024) Advice Services Manager (Resigned 21 March 2025) Advice Services Manager (Appointed 19 May 2025) Charlty numbér 1085220 Company number 04099352 Regulated by the Financial ConductAuthority FRN 617564 Reglstered offlce Fletcher House, 15 College Hill, Shrewsbury Shropshlre SY11LY Audltor Mr Robert Humphreys BEng FCA {Senior Statutory Auditor) James, Holyoak & Parker Limited 1 Knights Court. Archers Way. Battlefield Enterprise Park, Shrewsbury. SY13GA Bankers National Westminister Bank PLC Shrewsbury Mardol Head, 8 Mardol Head Shrewsbury. SY11HE Investment Advlsers Rathbones Investment Management Limited Port of Liverpool Building. Pier Head, Liverpool L3 1 NW Deposlt Providers Flagstone 1st Floor, Clareville House. 26-27 Oxendon Street, London SW1Y 4EL
CITIZENS ADVICE SHROPSHIRE CONTENTS Page Chairman's statement Trustees report Independent auditor's report 9-11 Statement of financial activitles 12 Balance sheet 13 statement of cash flows 14 Notes to the financial ststements 15-28
CITIZENS ADVICE SHROPSHIRE CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 The past 12 months have seen many changes in the UK and in our county but the pressures facing our clients do not seem to have eased. We are all continuing to experien rises in household bills. Although inflation rates have slowed over the past 12 months many essential household costs continue to be high. This puts pressure on the most vulnerable members of our community. working people on low incomes, pensioners and people relianl on benefits who often struggle to make ends meel. At Citizens Advice we have directed our resources to continue to help the most vulnerable people in the community even though, like every other charity in the country. we are facing a squeeze on our finances. Our operating costs have increased but our income has nol kept pace with these increases. We are looking for ways to become more efficienl As a charity we rely on the support of our funders to help us deliver services and we are grateful to all our funders for the help they have given over the past year. We are pleased Shropshire Council was confident in our seNice offer and, during 2024, awarded us two new contracts to deliver support across the county. We wouldn't be able to do much at all without the untiring efforts of our paid staff and volunteers, including our tiuslees. Everyone contributes and helps make Shropshire a better place. As Chair I have Ihe privilege of leading a fantastic charity and I want to pla on record my appreciation of everything people do lo help us deliver our mission. Thank you. I wish l could offer a more hopeful future bul there is great uncertainty in the world we all live in and this will bring more and new challenges for us to face. I'm confident we are well placed to adapt and will continue to make a positive difference to the lives of thousands of people in the year to come. Chris Boote Chalrman Date..
CITIZENS ADVICE SHROPSHIRE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees (tiustees) (who are also directors of the charity for the purposes of the Companies Act) present their report and audited financial stalements for the year ended 31 March 2025. Which are also prepared to meet the requirements for a directors, report and accounts for Companies Acl purposes. The financial statements have been prepared in accordance with the accounling policies set out in note 1 to the financial statements and comply with Citizen Advice Shropshire's governing document, the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charilies SORP "Accounting and Reporting by Charities.. Statemenl of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" Objectives and actlvltles The charity's purposes, as set out in the objects contained in the charity's Articles ofAssociation, are to promote any charitable purpose for the public benefit by the advancement of education, the proledion 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. The charity's objects are defined as above. Our aims are focused on.. To provide the advice people need for the problems they face, and To improve the policies and practices that affect people's live8 Our service provides free, independent, confidential and impartial advice to everyone on their rights and responsibilities. We value diversity, promote equality and challenge discrimination. The area of beneflt refers to the whole community of Shropshire and for National Projects, England & Wales. Our seNice delivery model is a mix of telephone, face to face support and referral pathways in to our Single Poinl of Referral (SPORI lo provide this. Our key objectives for 2024125 were.. Strateglc alm A.. Develop servlces for vulnerable adults and support dlsadvantaged and hard to reach communitles. For our funders, there is a move away from buildings-based work lo neighbourhood and community working to support those most in need - 'One Shropshire,. Developing this will, therefore, influence our service delivery model going foardS which will require a balance of telephone, face to face support and referral pathways in to our Single Point of Referral. Strategic alm B: Support and develop our paid staff and volunteets. Our people remain our biggest asset and we need to support and develop teams to be the best they can be. This will mean, as our paid staff team grows, developing slaffing structures to support this and continuing to develop and support our volunteers, Strateglc alm C: To malntaln flnanclal security and growth Whilst we have been successful in recommissioning our core fvnding for the next 5 years, some of our new and existing funding come with flat budgets. The cost of living crisis and inflation will mean that we have to find new ways of securing income to cover risin9 Costs and salaries and not rely on our reseeS to support this. Publlc benefit All our charitable activities focus on providing the advice people need for the problems they face and are und8rtaken specifically lo provide public benefit. The trustees have had due regard to the Charity Commission guidance on public benefit and have complied.
CITIZENS ADVICE SHROPSHIRE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achlevements and performance The main areas of charitable activity are= the provision of general advice and information services the provision of specialist advice and casework services in the debt and welfare benefits categori@s of social welfare law, and Guidance on the new pension regulations. We have continued lo work with stakeholders across the system developing the Prevention Strategy, Health Inequalities Strategy and planning to move to more neighbourhood and community working to support those most in need. As a result, we have been able to develop our Community Advice leam, increasing our presence locally and delivered Advice First Aid training to local hubs and groups (supporting communities to access advi and information). 9,346 unique clients supported with 39,261 problems 55010 of our clients were from Shropshire and its borders with 450A of clients helped through our participation on national phone lines including national debt line, Pension Wise and Universal Credit.. Help to Claim. Increased our face to face support in 10 community locations Income gain for clients a total of £5.3 million Our volunteers donate over 5,949 hours annually (average of 6 hours per person) to the charity a financial Impact of £187,719 (financial value of activities and improved outcome5) Social value of our support to the people we help £18.1 million Public value of the work we do £26.1 million Impact of our advice saving £2.4 million on public services such as health lo NHS and Shropshire Council Throughout the year we have continued to offerAdvice and Infomalion in the following ways Advic8 Line county-wide first point of contact telephone service. Details of Service hours and how to Contact us can be found on our website V.cab$hf0pshlre.Ofg.Uk. This service is funded by Shropshire Council, Market Draylon and Church Stretton Town Councils, local Parish Councils, Foodbanks, Trusts and Glient donations Shrewsbury registered office for face-to-face appointments I casework services. Outreaches for appointments at agreed locations such as.. Oswestry. Whitchurch, Bridgnorth, Church Stretlon, Bishop's Castle. Albrighton and Market Draylon. Information and Self Help. In addition to general advice, the following specialist services are provided: Specialist provision includes specific subject areas such as debt advice (funded by the Money Advi Service), Pension Wise and Universal Credit.. Help to Claim (main funder Department for Work and Pensions}, and welfare benefits (funded by Shropshire Council - Enable) Outreach seNices for 202412025 have been by phone and l or face-to-face. We have made special arrangement to ensure our most vulnerable clients have been helped and have referral protocols in place for organisations lo refer vulnerable clients in to the Charity via our Single Point of Referral (SPOR). The IASS service provides Information, Advice and Support Service to children and young people aged O 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.
CITIZENS ADVICE SHROPSHIRE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Contrlbutlon of Volunteers and Paid Staff The charity's success could not have been achieved without the hard work and dedication of staff and volunteers. Throughout 2024125 the service employed 41 paid workers (32 FTES) {2023124 41 paid workers, 32 FTES), and 20 volunteers (2023124.. 20 volunteers) together delivering some 17 (2023124: 18) projects, including the core setvice. The contribution of our volunteers brings real added value lo the organisation worth over £148.715 if we had to pay them. But volunteering benefits our volunteers too - they improve their skills, resilience, health and wellbeing, while strengthening community engagement. The charity is working hard lo review our approach to attracting and keeping paid staff and volunteers. It is our intention to consistently monitor our approach to training, to provide an accessible and welcoming place to worf(. Who used and beneflted from our servlces? During the reporting year 9,346 unique clients {2023124.' 9,606) benefited from the services of Citizen5 Advice Shropshire generating 38,934 contacts (2023124.. 37.323). We support people on any issue that they may face however our most common enquiry area is welfare benefits and tax credits which makes up a total of 660A (2023124.. 56%) of the issues we have supported on. Clients continue to present with multiple problems and on average clients are presenting with 4.2 issues each. On average clients are presenting 4.17 times each before their issues are resolved. Factors Affectlng the Achlevement of Objectlves Malntainlng sufficient funding to continue delivering the seNi¢e remains a continual challenge. The complexity of the issues that clients are facing, and the additional challenges that clients are experiencing, places additional demands on the service. The support networks that Were previously in place for people are changing and we are asked lo offer support that falls outside the remit of direct advice. Where people are vulnerable, it is essential that we offer support in a person-cenlred way and whilst necessary this can be resource inlensive. A Focus on Penslon Wlse This year, we celebrate 10 years of the Pension Wse ser411 Citizens Advice Shropshire is one of 38 local Citizens Advice who have been delivering the government's Pension Wise service since ils launch in April 2015. Pension Wse is a guidance service from MoneyHelper, that supports people aged 50 and over with their defined contribution pension options. This year Pension Wise.. Supported 83.000 clients with their pension options across the servlce in England, Wale5 and Northern Ireland Reduced the waiting time for an appointment. dropping from 30 days to an average of 18 days, meaniig people could gel the support they needed quicker Client satisfaction rates remained high, exceeding 91% across the year Clients reported an increased confidence in recognising and avoiding pension scams, wtth 920k saying they felt confident in Ihis area post a Pension Wise appointment.
CITIZENS ADVICE SHROPSHIRE TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Flnanclal revlew The availability of funding in the charily sector remains difficult in a period of austerity- The charity is focused on providing added value to ils funders from a base of sound financial management and ensuring that our 8eniices remain relevant lo the strategic objectives of stakeholders at local and national level. The charity is working hard to deliver a cost-effeclive service that genuinely meets the needs of our clients. It remains a challenging prospect lo meet the increasing demand with significantly reduced fLtnding resources. In the reporting period. the charity had a deficit of £29,373 (2023124.. £31,307 profit) from a total income of £1,245,275 {2023124.' £1,185,931) and expenditure of £1,266,838 (2023124.. £1.217,882). At the year end the charity's total funds stand at £984,395 (2023124.. £1,013,768) of which £984,395 {2023124'. £1,013,768) is unrestricted. Prlnclpal Fundlng Sources The total income for the year of £1,245,275 represents a net increase of £59,344 compared to 2023124. The trustees extend Iheir sincere gratitude to • Albrighton Masons Albrighton Coop Community Grant . Albrighlon Craft Group Albrighton Parish Council Boningale Homes Boningale Parish Council Bridgnorth Food Bank Citizens Advice o Help to Claim o Pension Wse o Money and Pensions Service (MaPS) debt funding Donington wlth Boscobel Parish Council Hope Bagol Parish Meeting Jane Higginson Trusl Church Stretton Town Council Ludlow Walkers Group Market Drayton Action for Heallh Market Drayton Town Council Millie's Watch Shropshire Council o Advice, Advocacy and Welfare Benefits o Enable- Better Off In Work o Information Advice and Support Service - IASS o Shaping Places Healthy Lives Programme o UK Shared Prosperity Fund Stockton Parish Council . Trussel Trust Thank you to all those individuals who donaled cash or through our on line funding page. Going concern After making further appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial statements.
CITIZENS ADVICE SHROPSHIRE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Reserves pollcy The charity is required lo ensure Ihat free monies are available in each financial year to meet the day to day funding requirements. The trustees have designated an amount equivalent to six months operaling expenditure. The value of this will be calculated using an average of six months running costs based on the current annual budget. This is reviewed on an annual basis, alongside its 3 year Strategic plan, annual budget and investment pollcy. The reserves policy figure al Ihe end of 2024125 equates to £661.000 {2024-. £642,000). The free reserves (i.e. unrestricted funds less designated and fixed assets) were £321,301 (2023124.. £266,506). Investment policy The investment policy is reviewed annually. The income provided by the investments were £21,596 (2024.. £24,416). realised gain of £12.547 {2024'. £7.027 loss) and a unrealised loss of £20,35712024= gain £70,285). This reflects the markets the investment portfolio holds. The trustees use an investment management company {Rathbones) for the portfolio allocation. The portfolio performance is reviewed periodically. Information on fundraising practlces The charity's fundraising approach has been minimallst as trustees do not consider It to be a risk. as the charlty does not have an employeel volunteer fundraiser. Key rlsks and Uncertainties The trustees annually review the risk register of the charity. They have a duty to identify and review the risks to which the charity is exposed to and ensure appropriate controls are in place to mitigate them. Plans forfuture perlods Our key objectives for 25126 remain the same as last year. Strategic aim A.. Develop senilces for vulnerable adults and support dlsadvantaged and hard to reach communltles. For our funders, there is a move away from buildings-based work to neighbourhood and community working to support those most in need - 'One Shropshire.. Developing this will, therefore, influence our service delivery model going forwards which will require a balance of telephone, face to face support and referral pathways in to our Single Point of Referral. Strateglc alm B: Support and develop our pald staff and volunteers. We have revised training plans for the organisation and introduced an Employee Support Programme for staff. We have had a number of key vacancies during the year which have delayed our further plans for work force development but after filling these essential roles within the organisalion one of our key objectives in 2025126 is lo continue with this work. Strateglc alm C: To maintain financlal securlty and growth Vvhilst we have been successful in recommissioning our core funding for the nexi 5 years, some of our new and existing funding come with flat budgets. The cost of living crisis and inflation will mean that we have lo lind new ways of securing income to cover rising costs and salaries and not rely on our reserves to support Ihis. We will be map the impact of government reorganisation and local devolution. to see how this will impact on our future funding and partnerships. Developing a sustainable service that meets the needs of our clients remains a priority of the trustee board ft)r 2025126. The charity will build on the work completed in the previous financial year to develop diversified funding streams to increase our sustainabilily and enable us to build a diverse service thal is responsive to client needs. The charity will continue to work to ensure that it delivers a cost-effective setvice. meaning Ihat we are not only offering value for money lo our existing funders bul that we have a viable offer, whilst never compromising on the high quality service that our clients expect and deserve. During the year 2025126 we will improve our internal monitoring mechanisms ensuring that we have a clear understanding of each element of the service, the benefrts of that are many - we can ensure that we are achieving as much as we can possibly achieve and delivering an excellent service to our clients and our funders. and we can also understand our business offer and can market our service accordingly.
CITIZENS ADVICE SHROPSHIRE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management The charity was formed as a private company limited by guarantee on 31 st October 2000 (Company Number: 04099352). The full name of the charity is Citizens Advice Shropshire and was registered with the Charity Commission on 26th February 2001 {charily Number.. 1085220). It is governed by its Memorandum and Articles of Association. The charity is also authoiised and regulated by the Financial Conduct Authority - FRN 617564. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Chris Boote (Chalr) Andy Howitt Penny Cooper Joanne Harrison Tony Hinkley Paul Langton Elaine Williams Christopher Deaves (Resigned 26 November 2024) (Resigned 11 October 2024) (Appointed 20 May 2025) Recrultment and appolntment of trustees The trustees meet at least 4 times per year. There is a Finance subcommittee and Operational subcommittee who both have their own terms of reference and report to the main Trustee Board. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee lo contribute £10 in the event of a winding up. Trustees are elected lo the Board ft)r a Ihree-year period and are appointed by a resolution of its members at an AGM. The trustees have powers to co-opt members who shall retire at the following AGM and may offer themselves for re-electlon. Trustees are recrulted Ihrough an open and transparent selection and interview process. Recruitrnent to the truslee board aims to reflect the diversity of the community within which the charity is located. New trustees are inviled to initial discussions with the chair about the nature and purpose of the charity and are then invited to attend and observe trustee meetings. After their appointment new trustees are provided wllh an induction pack, access to online information and trustee training. Wider network The Gharily is a member of Citizens Advice, the operating name of the National Association of Cilriens Advice Bureaux, which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the Irustees in order to fulfil its charitable objects and comply with the national membership requirements. Organisatlonal structure The Chief Executive (CEO) lJa¢kie Jeffrey) of the charity has been appointed by the trustees to manage the day-to- day operations of the charity. In addition. there is an eXperIend team of paid staff and volunteers who are key to the service offered by the charity. Appraisal of the Chief Executive is the responsibility of the trustees. as is the setting of the Salary. The remainder of the charity's key management personnel are set by the CEO. Funds held as custodian trustee The charity is the lead partner for various charitable projects and receives money on behalf of third party organisations. All money is paid over and excluded trom the income and expenditure of the charity. ststement of trustees responslbllltles The truslees, who are also the directors of Citizens Advice Shropshire for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
CITIZENS ADVICE SHROPSHIRE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Company law requires the trustees to prepare financial statements for each financial year which give a Irue and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statemenls, the trustees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going Goncern basis unless it is inappropriate to presume that the charity will continue in operation. The twstees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and deteclion of fraud and other irregularities. Auditor In accordance with the company's articles. a resolution proposing that James Holyoak & Parker Limited be reappointed as auditor of the company will be put at a General Meeting. Small company provisions This report has been prepared in accordance with the provisions appllcable to companies entitle lo the small companies, exemption. The truste port was approved by the Board of Trustees. Paul La Trustee lon Date.. rfAk
CITIZENS ADVICE SHROPSHIRE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CITIZENS ADVICE SHROPSHIRE Oplnlon We have audited the financial statements of Cib'zens Advice Shropshire (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet. the statement of cash flows and noles to the financial stalemenls. including 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 (Uniled 'ngdom Generally Accepted Accounting Practice). In our opinion, the financial statements-. give a true and fair view of Ihe state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting practi., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing (UK) IISAS {UK)) and applicable law. Our responsibilities under those standards are furlher described in the AuditoRs r8sponsibililies for the audit ol the financial slat&menls section of our report. We are independent of the charity in accordance with th8 ethical requirements that are relevant to our audit of the finanual statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wilh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to going concern In audiling the financial statements, we have concluded that the trustees use of the going concern basis of accounting in Ihe 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 charity's ability lo continue a5 a going concern for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections ol this report. Other Informatlon The other information comprises the information included in the annual report other than the financlal statements and our audilor's report Ihereon. The trustees are responsible for the other information contained wlthin Ihe annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion Ihereon. Our responsibilily is lo 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 course of the audit, or otherwise appears to be materially misstated. If we identify such malerial inconsistencles or apparent material misstatements, we are required to determine whether this gives rise lo a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there 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 whlch we are requlred to report by exception We have nothing to report in respect of the followtng matters in relation to which the Charitie5 (Accounts and Reports) Regulations 2008 requires us to report to you if. in our opinion: the information given in Ihe financial statements is inconsistent in any material respect with the Irustees report., or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit.
CITIZENS ADVICE SHROPSHIRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CITIZENS ADVICE SHROPSHIRE Responslbllltles of trustees As explained more fully in the statement of trustees responsibilities, the Iru5tees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstalement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing. as applicable, matters related lo 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 realistlc alternative but to do so. Audltorfs rosponslbllities for the audlt of the flnanclal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. R8asonable 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 misstalement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expeded to influence the economic decisions of users taken on Ihe basis of these financial statements. 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 Company and determined that the most significant are those that relate lo the reporting framework (FRS102 and the Companies Act 2006), Ihe relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General Data Protection Regulalion IGDPR). We understood how the 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 Company's financial statements to material misstalemenl, including how fraud might occur by meeting with key managemenl to understand where they considered Ihere 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 chaInge of significant accounting estimates used in preparing Ihe financial statements. Because of the inherent limitations of an audit, there is a risk thal we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance wilh 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 norFcompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https:11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditors report. Use of our roport This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounls and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to slate 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 charity and the charily's trust8es as a body, for our audit work, for this report, or for the opinions we have fomied. 10-
CITIZENS ADVICE SHROPSHIRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CITIZENS ADVICE SHROPSHIRE Mr Rob8rt Humphreys BEng FCA (Senior Statutory Audltor) For and on behalf of James Holyoak & Parker Limited, Statutory Auditor Chartered Accountants 1 Knights Court Archers Way Battlefield Enterprise Park Shrewsbury SY13GA Date: . loh.lqo. . James Holyoak & Parker Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 11
CITIZENS ADVICE SHROPSHIRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unreslricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from: Donations and legacies Charitable activities Investments 32,847 664.903 24,316 930 33,777 522,279 1,187,182 24,316 47,952 613.132 29,119 47,952 495.728 1,108,860 29,119 Total income 722,066 523,209 1,245,275 690,203 495,728 1,185,931 Expenditure on: Raising funds Charitable activities 8,196 682,512 8,196 576,130 1,258,642 184 683,563 184 534,135 1,217,698 Total expenditure 690.708 576,130 1,266,838 683,747 534,135 1,217,882 Net galnsl{losses) on inve51menls 12 (7.810) (7,810) 63,258 63,258 Net Incornel(expendlture) 23.548 (52.921) (29,373) 69,714 (38,407) 31,307 Transfers between funds (52.921) 52.921 118,377) 18,377 Net movement In funds (29.373) (29,373) 51,337 (20,030) 31,307 Reconciliatlon of fund5: Fund balances at 1 Aprll 2024 1.013.768 1,013,768 962,431 20,030 982,461 Fund balances at 31 March 2025 984,395 984,395 1,013,768 1,013,768 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 12-
CITIZENS ADVICE SHROPSHIRE BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets Investments 14 15 2,093 846,466 5,015 923,685 848,559 928,700 Current assets Debtors Cash at bank and in hand 16 43,766 183,906 422,023 159,569 227,672 581,592 Credltors: amounts falllng due wlthln one year 18 (91,836) 1496,524) Net current assets 135,836 85,068 Total assets less current Ilabllltles 984,395 1,013,768 The funds of the charlty Unrestricted funds Unrestricted funds - revaluation 21 21 939,123 45,272 948,139 65,629 984,395 1,013,768 The 'nancial statements were approved by the trustees on .1.?.. .... ZOLS Chris Boote (Chair) Trusteg Company registration number 04099352 (England and Wales) 13-
CITIZENS ADVICE SHROPSHIRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operatlng activities Cash absorbed by operations 24 (69,388} {93,338) Investlng aclivltles Purchase of investments Proceeds from disposal of investments Investment income received 1110,496) 179,905 24,316 1133,121) 136,132 29,119 Net cash generated from Investlng actlvltles 93,725 32,130 Net cash generated from flnanc(ng activities Net Increasel(decrease) In cash and cash equlvalents 24,337 161,2081 Cash and cash equivalents al beginning of year 159,569 220,777 Cash and cash equlvalents at end of year 183,906 159,569 14-
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles Charity Informatlon Citizens Advice Shropshire is a private company limited by guarantee, and a registered charity in England I 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 Imited lo £10 per member of the charily, 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 Ihe general public. The charity constitutes a public benefil enlity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting SlandaKI 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 GenerallyAccepted Practice as it applies from 1 January 2015. The financial statements are prepared on a going concern basis under the historical cost convenlion, modified to include certain items at fair value. The significant accounting policies applied in the preparation of these financial stalemenls are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic ol Ireland. ("FRS 102.1 and the Charities SORP "Accounting and Reporting by Charilies.. Statement ol Recommended Practice applicable lo Charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial slatements are rounded to the nearest £. The financial statements have been prepared under the historical cosl convention, modified lo include certain items at fair value. The principal accounling policies adopted are set oul below. 1.2 Golng concern At the time of approving the financial slatemenls, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt Ihe going concern basis of accounting in preparing the Iinancial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discrelion of the trustees in furtherance of their charitable objectives. Reslricled funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 15-
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcies (Continued) 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts Can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at Ihe lime of the donation. Legacies are recognised on receipt or olheTwise if the charity has been notified of an impending distribution. the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset. Donated services and facilities are included at the value to the charity where this can be quantified and is material. The value of services provided by volunteers has not been included in these accounts. 1.$ Expenditure Expenditure is recognised once there is a legal or constructive obllgation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dir&t costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute lo more than one activity and support costs which are nol attributable to a single activity are apportioned between those aclivllies on a basis onsistent with the use of resources. Central staff and other support costs are allocated on the basis of time spent. 1.6 Tangible flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Office Equipment Computers Over 10 years on a straight line basis Over 3 years on a straight line basis The gain or loss artsing on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in the st8tement of financial activities. 1.7 Flxed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and afe subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impalrment of flxed assets At each reporting end date, the charity revievts the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss {if any). 16-
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcies (Contlnued) 1.9 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid investments with original maturities of ihree months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financlal 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 Iransaclion value and subsequently measured at the present value of future cash flows (amortised cost). Financial assets held al amorttsed cost Gomprise cash at bank and in hand and debtors excluding prepayments. Financial liabilities held at amortised cost comprise creditors excluding deferred income and ta10n payable. Financial liabilities that are provisions are held at fair v21ue. 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. 1.11 Taxatlon The company, being a registered charity wilh minimal trading income, has been granted exemption from tax under Section 505 of the Income and Corporation Taxes Act 1988. No provision for taxation has therefore been made in these accounts. 1.12 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 1.13 Creditors and provlslons Creditors and provisions are recognised where the charity has 8 present obligalion resulting from a past event that will probably result in the transfer of funds to a third party and the amount due lo settle the obligation can be measured or eslimated reliably. Creditors and provisions are normally recognised al their settlement amount after allowing for any trade discounls due. Crftlcal accountlng estlmates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assels and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors thal are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are rewewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and legacies Unrestricted Restrlcted funds funds 2025 2025 Total Unrestrlcted Restrlcted funds funds 2024 2024 Total 2025 2024 Donalions and gifts 32,847 930 33.777 47,952 47,952 17-
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from charitable activitles Unrestrlcted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Income General Advice Debt Advice Benefits advice Pensions guidance 664,903 61.464 100,548 217.410 142.857 726,367 100,548 217,410 142,857 613.132 84.800 102,040 169,554 139,334 697,932 102,040 169.554 139,334 664,903 522,279 1,187,182 613,132 495,728 1,108,860 Income from Investments Unrestrlcted Unrestrl¢ted funds funds 2025 2024 Income from lisled investments Interest receivable 21,598 2,720 24,416 4,703 24,316 29,119 Expenditure on ralslng funds Unrestrlcted Unrestrlcted funds funds 2025 2024 Fundraislng and publicity Investment fees 8,196 184 18
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expendlture on charltable actlvities Unrestrlcted Restrl¢ted 2025 2025 Total Unrestricted Restricted 2025 2024 2024 Total 2024 General advice Debt advice Benefits advice Pension guidance 682.512 73.368 109.631 226.786 166,345 755,880 109,631 226,786 166,345 683,563 81,312 133,783 17D,580 148,460 764,875 133,783 170,580 148,460 682,512 576,130 1,258,642 683.563 534,135 1,217,698 19-
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Analysls of expendlture on charitable activlties- current year Allocatlon Basls General Advice Debt Advice Benefits Advice Pensions Guidance Total 2025 Dlrect costs Salaries staff & volunteers Office costs Premises Costs Other costs Direct Direct Direct Direct Direct 533,374 10,564 10.751 200 476 80,534 57 538 158.698 498 5.480 124,713 86 893 897,319 11.205 17.462 200 476 Support costs Salaries Olher support costs staff hours Staff hours 111,195 89,320 15.803 12.699 34,987 27,123 22,928 17,925 184.913 147,067 Total expenditure on charitable activities 755,880 109.631 226,786 166,345 1,258,842 8a Analysls of expendlture on charltable actlvltles- prlor year Allocatlon Basls General Advlce Debt Advlce Beneflts Advice Penslons Guldance Total 2024 Direct costs Salaries Staff & volunteers Office costs Premises costs Direct Direct Direct Direcl 560,458 11,213 8.781 3.926 108,405 221 993 53 133,312 896 1,713 121,884 924,059 12,330 11,562 3,979 75 Support Gosts Salaries Other support costs Staff hours Staff hours 86,540 94,141 14,327 9,784 20,541 14.118 15,269 11,232 138,677 129,275 Total expenditure on charitable activities 765,059 133,783 170,580 148,460 1,217,882 -20-
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Net movement in funds 2025 2024 The net movement in funds is stated after chargingl{crediting)'. Fees payable to the charity's auditor.. for the audit of the Charity's financial stalements for other accounting services Depreciation of owned tangible fixed assets ProfiV(Lossl on disposal of fixed asset investments 3,800 5.317 2,922 12,547 3,000 5,040 2,921 (7.027) 10 Trustees None of the trustees (or any persons connected with them) received any remuneration during the year. but 3 of them were reimbursed a total of £1.026 travelling expenses (2024- 3 reimbursed £1,287). 11 Employees 2025 Full Tlme Equlvalent 2025 Head Count 2024 Full Tlme EquSvalent 2024 Head Count The average number of employees analysed by functlon: Advice workers and support staff Key management personnel 27 35 27 35 Total 32 41 32 41 Employment costs 2026 2024 Wages and salaries Social security costs Pension {d8fined conlribulion) 954,071 75,070 53,091 935,599 73.513 51,624 1.082,232 1,060,736 No employee received remuneration amounkn'ng to more than £60.000 in the period (2023124: None) Remuneratlon of key management personnel The key management personnel of the charity comprise the Chief Executive Officer. Specialist & Advice Services Managers, Business Support Manager and Finance Manager. The total employee benefits of Ihe key management personnel of the charity were as follows.. 2025 2024 Aggregate compensation 254.894 198,247 21
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Gains and losses on Investments Unrestrlcted Un restrlcted funds funds 2025 2024 Gainsl(losses) arising on: Revaluation of investments Sale of investments (20,357) 12,547 70,285 (7,027) (7,810) 63,258 13 Taxatlon The charity is exempl from taxation on its activilies because all its income is applied for charitable purposes. 14 Tanglbl6 fixed assets Computers Total Equlpment Cost At 1 April 2024 Disposals 84,963 {21,581) 46,404 (29,583) 131,367 (51,164) At 31 March 2025 63,382 16,821 80,203 Depreclatlon and Impairment At 1 April 2024 Depreciation charged in the year Eliminated in respect of disposals 83,835 330 (21,581) 42,517 2,592 (29,583) 128,352 2,922 (51,164) At 31 March 2025 62,584 15,526 78,110 Carrylng amount At 31 March 2025 798 1,295 2,093 At 31 March 2024 1,128 3,887 5,015
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Flxed asset Investments Listed Investments Cost or valuation At 1 April 2024 Additions Valuation changes Disposals 923,685 110,496 120.1111 (167,604) At 31 March 2025 846,466 Carrying amount At 31 March 2025 846,466 At 31 March 2024 923,885 Fixed asset investments have been revalued to market value as at 31st March 2025 in line wilh the Ralhbones Investment Management portfolio. 16 Debtors 2025 2024 Amounts falllng due wlthln one year: other debtors Prepayments and accrued income 18,429 25,337 359,558 62,465 43,766 422,023 -23-
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Funds received as agents 2025 2024 Received during the year Paid to partners Included in accruals 832,876 (832,043) (833) 761,756 (761,7561 The charity 15 the lead partner for various charitable projects and receives money on behalf of Ihird-party organisalions, all money is paid over to the third parties and excluded from Ihe income and expenditure oflhe charity. 18 Credltors: amounts falllng due within one year 2026 2024 Notes Other laxation and social security Deferred income Trade creditors Accruals 18,064 19.994 27,227 26,551 19,788 399,692 61,036 18,008 19 91,836 496,524 -24-
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Deferred Income Deferred income is included in the financial statements as follows- 2025 2024 Deferred income is included wilhin.. Current liabilities 19,994 399,692 Movements in the year.. Deferred income at 1 April 2024 Released from previous periods Resources deferred in the year 399,692 (393,128) 13,430 390,731 (390,731) 399,692 Deferred income at 31 March 2025 19,994 399,892 20 Restrlcted funds The restricted funds of the charity comprises8 of the income held on Irust subject to specifi'c conditions by donors as to how they may be used. At 1 April 2024 Incoming resources Resources expended Transfers At 31 March 2025 General- SFPA General- Shaping Pla8 DebtAdvice Benefits Advice Pensions Guidance 42,226 20,000 100,716 217,410 142.857 (46,454) {26,914) (109,631) {226.786> {166,345) 4,228 6,914 8,915 9,376 23,488 523,209 (576,130) 52.921 Previous year: At 1 Aprll 2023 Incoming resources Resources expended Transfers At 31 March 2024 restated restated General- SFPA General- Shaping Places Debl Advice Benefits advice Pension Guidance 6,344 19,382 44,800 40.000 102,040 169.554 139.334 (39,6571 (41.6551 1133,7831 1170,580) (148,460) (11,4871 (17,727) 31,743 6,973 8,875 (5,947) 251 20,030 495,728 534.135 18,377 25-
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Restrlcted funds {Continued) Shropshlre Food Poverty Alliance (SFPA) is an alliance of organisations in Shropshire working together to understand the causes of food poverty in ShTopshire and use thi5 knowledge to try to pul an end to food poverty in the county. It is funded thorugh 'SHROPSHIRE VOLUNTARY COMMUNITY SECTOR INFRASTRUCTURE SUPPORT. PROJECT via the UK Government Ihrough the UK Shared Prosperity Fund,. Shaplng places this was a fund to help improve heallh and address health inequalities relating to Food Poverty. Working with the l¢xal authority and Healthwatch Shropshire. Debt advl¢elMAPs assist people with their Debt Problems, advising and supporting with the various debt solutions. We provide Casework to support the clients this is done, Face to Face and Phone - we support clients of Shropshire and can also work on the National Debt Line. Help to Clalm work on a National Helpline advising people to claim Universal Credit, checking their entitlement and support up to the first correct payment. This is done via phone and Webchal and is a national Citizens Advice funded project via Dept of Work & Pensions. Penslon Wlse a govemment service that requires Local Citizens Advice staff to deliver appointments both over the phone and in person, offering free impartial information and guidance lo clients over 50 years of age with defined contribution pensions. The Servi offers guidance to help clients make informed decisions about their pensions, not regulated financial advice. 21 Unrestrlcted funds The unrestricted funds of the charity comprise Ihe unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustee5 for specific purposes. At 1 Aprll Incomlng Resources Transfers Galns and At 31 March 2024 resources expended 105ses 2025 Business continuily reserve IT reserve (previously named Cyber security) reserve Support for fulure contract tendering Workforce development reserve Health & Outreaches General funds 642,000 19,000 661,000 24,516 (12,328) (12,188) 20,000 {3.650) (16,350) 47,876 7,856 205,891 (17.559) {87,731) (569,440) (30.3171 6,628 (19,694) 73,247 648,819 12,547 278,123 948,139 65,629 722,066 (690.7081 (52,921) 12,547 (20,357) 939,123 45,272 Revaluation reserve -26-
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Unrestricted funds {Contlnued) Previous year: At 1 Aprll Incoming Resources 2023 resources expended Transfers Galns and At 31 March losses 2024 restated restaled Business continuity reserve IT Reserve 600,000 30,000 20,000 42.000 642,000 24,516 20.000 (5,484) Support for future contract tendering Workforce development reserve My money matters residual fund General funds 50.000 (2,124) 47,876 78,146 {70,290) 7,856 24,095 242,992 (24.0951 (36,2821 612,057 (605,849) (7,0271 205,891 967,087 (4,656) 690.203 683,747 (18,377) (7,027) 70,285 948,139 65,629 Revaluation reserve Business contlnulty reserye - to cover all eventualities in funding and allows the charity to find allernalive funding andlor lake an orderly winding up of costs associated with the lost funding. It is based on the 25126 budget 6 months operating costs. IT reserve to cover expenditure in upgrading the tT infraslructure of the charity to meet Cyber Essentlals accreditation. As this was accredited during 24125 the trustees decided to transfer back to general reserves any balance left. Support for future contract tenderlng - to cover expendilure incurred in the tender writing. The trustees have considered any large projects and cannot see an imminent use for this designated reserve and have agreed to transfer back lo general reserves any balance left. Any future expenditure will be considered at the lime and if necessary a designaled reserve will be created. Workforce development- lo cover the future costs of increased support costs. The trustees have considered Ihe forecast budget and have agreed to Iransfer back any underspend to general reserves. Health and Outreaches funds we provide generalist adwce including welfare benefit checks lo ensure clients receive all welfare benefits they are entitled lo and we will also look at ways to help redu expenditure. All referrals for these projects come from the Funder. They have been included within the general activity of the charity. 22 Operatlng lease commltments Lessor The future minimum lease payments under non-cancellable operating leases are as follows.. 2Q25 2024 Within one year 19,201 19,201 -27-
CITIZENS ADVICE SHROPSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Related party transactions There were no disclosable related party transactions during the year (2024 - none). 24 Cash absorbed by operations 2025 2024 (Deficitllsurplus for the year (29,373) 31,307 Adjustments for: Investment income recognised in statement of financial activities {Gain)Iloss on disposal of investments Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets (24.316) (12,547) 20,357 2,922 (29,119) 7,027 (70,285) 2,921 Movements In worklng capltal: Decreasel(increasel in debtors (Decrease) in creditors (Decreasellincrease in deferred income 378,257 (24,9901 (379,698) (22,980) (21,170) 8,961 Cash absorbed by operatlons (69,388) 193,338) 25 Analysls of changes In net funds The charity had no material debt during the year. -28-