Registered company number - 04176324
CITIZENS ADVICE THANET (A COMPANY LIMTED BY GUARANTEE)
FINANCIAL STATEMENTS AND TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Charity Number 1086799
CITIZENS ADVICE THANET
CONTENTS
| Pages | |
|---|---|
| Trustees' Annual Report | 1 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 17 |
CITIZENS ADVICE THANET
Page 1
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024
The trustees have pleasure in presenting their report and the unaudited financial statements for the year ended 31 March 2024 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006 relating to small companies, and 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).
REFERENCE AND ADMINISTRATIVE DETAILS Charity Registration Number Company Registration Number 1086799 04176324 Registered Office Mill Lane House Mill Lane Margate Kent CT9 1LB
Trustees/Directors Dr Geoff Lindley (resigned 29.11.23) Mr Simon Farrer Treasurer Mrs Rebecca Kirkpatrick (resigned 13.7.23) Mrs Danielle Barnes (resigned 30.6.24) Mrs Sarah Ellis Mrs Helen Mitchell Ms Sharon Wilding Chair (appointed 26.5.23) Mrs Heidi Coleman (appointed 22.12.23, resigned 30.6.24) Mr Connor Harney (appointed 12.12.23) Ms Bernadette Hawkes (appointed 17.4.24) Ms Nicola Parmar (appointed 18.7.24) Co-Opted Local Authority Representatives Cllr Jenny Matterface Cllr David Green (until 18.5.24) Cllr John Edwards (from 18.5.24)
Chief Officer and Company Secretary Mrs Angela Drew-Robinson
Bankers
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Independent Examiner
Mr S J Wren FCCA Accountancy Matters (Kent) Limited The Marlowe Innovation Centre Marlowe Way Ramsgate Kent CT12 6FA
CITIZENS ADVICE THANET
Page 2
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Citizens Advice Thanet is a registered charity and a company limited by guarantee incorporated on 9 March 2001. It was established under a memorandum of association and is governed by its articles of association.
Recruitment and appointment of trustee directors
Trustees Board vacancies are advertised on the national Citizens Advice website and other appropriate media. Applicants for vacancies will be selected by a short listing and interview process which will be based on a published job description and person specification. This process will be carried out by a small group of Trustees especially appointed for this purpose. The Charity aims to have a balanced makeup which reflects the community the Service serves.
Organisational structure
Citizens Advice Thanet is governed by a Board of Trustees who meet at least quarterly. Day to day running of the Charity is supervised by the Chief Officer who reports to the Trustees on a quarterly basis. The Trustees and the Chief Executive are the Key Management Personnel as defined by the Charities SORP FRS102.
Related parties
Citizens Advice Thanet has membership of the national body now called Citizens Advice, which provides a framework for the standards of advice and casework managements as well as monitoring progress against these standards. Operating policies are independently determined by the Trustee Board in order to fulfil its charitable objects and comply with the national membership requirements.
Risk assessment
The Charity has adopted a policy of regularly reviewing the risks to the operations of the Charity, to ensure that adequate steps are taken to mitigate such risks.
OBJECTIVES AND ACTIVITIES
Objectives
To deliver the Citizens Advice Service to the people of Thanet, ensuring as far as possible that we provide the advice people need for the problems they face and improve the policies and practices that effect peoples' lives. We will endeavour to provide free, independent, confidential and impartial advice to everyone on their rights and responsibilities, whilst valuing diversity, promoting equality and challenging discrimination.
Activities and achievements, performance and factors affecting achievement of objectives
The Cost-of-Living Crisis has become the norm, making ends meet has been come a difficulty for more Thanet residents than ever. Food prices and energy prices remain high, an acute shortage of affordable housing has affected many reliant on the Private rented market. House prices to buy are out of the reach of many in the community. The demand for our service is consistently high.
Due to an increase in capacity of Staff and Volunteers, the start of a ‘Drop-in Service’ at Ramsgate, has enabled us to increase capacity. Our aim is to continue with this trajectory and prepare our Business Plan to focus on how this will be managed in a way that does not impact our Quality of Advice.
Our Service Level Agreement with Thanet District Council continued and formed the basis for our Core costs.
A National Lottery Award, under their ‘Reaching Communities’ Funding, enabled us to recruit 2 Generalist Advisers for 3 years (35 hours and 30 hours pw). ‘Better Lives Thanet’ started operating from September 2023. This has enabled us to build up outreach services in all areas of Thanet, offering drop in advice and appointments. Working with partners to bring our service to people in need.
CITIZENS ADVICE THANET
Page 3
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024
Activities and achievements, performance and factors affecting achievement of objectives
Ramsgate Town Council, continue to provide funding to assist with employing a supervisor/adviser 22.5 hours pw to man the Ramsgate Office.
Thanet District Council funded Rise (Rough Sleeper) Project Adviser ran up to September 2023. No further funding allocated for this project to continue.
Thanet District Council invited us to participate in a further distribution of the Household Support Fund. This is for people not able to afford basic and essential items during the Cost-of-Living Crisis. We were, awarded £120,000, £12,000 of this to cover our admin costs. We assisted 411 Thanet households in need to access Vouchers for food, School Uniforms, home essentials to reduce energy costs such as microwaves, air fryers, slow cookers, white goods such as fridge/freezers, washing machines and cookers.
We have a new web-site, built by one of our volunteers, this also includes a self-help function to advice.
A Social Media Volunteer has been recruited to post matters of interest to the public and to highlight the services that we offer.
A special thank you to an amazing group of dedicated volunteers that continue to give up their free time to provide their services to Citizens Advice Thanet and the local community. Thank you also to our paid staff for their hard work and diligence to ensure Citizens Advice Thanet continues on its upward trajectory.
FINANCIAL REVIEW
Financial position
The total income for the year was £359,836 an increase from the previous year's income of £144,773. The service has been working to rebuild the service following the ending of projects and the disruption caused to the service by the Covid-19 pandemic. Thanet District Council Continue to be a valued supporter of the work of Thanet Citizens Advice. Their funding agreement provides for the core services, with additional funding provided for specific projects. Other significant funders during the year were Ramsgate Town Council and The National Lottery.
The service continued to rebuild its services. The number of volunteers increased, and additional staff employed to work on new project work. The total resources expended were £291,724.
Total funds held at the end of the financial year, 31 March 2024, were £241,432. This is made up of restricted funds of £29,667, designated funds of £46,403 and unrestricted funds of £165,362.
The service has been successful in securing project funding and will continue to seek opportunities of further funding. This enables the service to plan to continue to grow its services in the coming year.
Reserves Policy and going concern
Citizens Advice Thanet operates on grant and project funding. Funding for core services is provided through grants by Thanet District Council. A 3 year agreement commencing from April 2022 is in place. Negotiations are ongoing with Thanet District council to renew the funding agreement for a further 3 years from April 2025. Project funding has been secured for the financial year 2024-25 and further funding bids will be made to support the expansion of services.
CITIZENS ADVICE THANET
Page 4
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024
Reserves Policy and going concern - cont'd
The Directors consider that Citizens Advice Thanet is able to operate as a going concern over the next twelve months and to run its core services and projects that fit with the charitable objects.
The reserves policy has been prepared with reference to the Charity Commission's publication 'Charities and Reserves'. CC19, 2016.
The trustees believe that Citizens Advice Thanet should hold financial reserves in order to ensure that the charity can continue to operate and meet the needs of clients in the event of unforeseen and difficult financial circumstances.
In determining the level of reserves consideration will be given to:
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a) The risk of unforeseen emergency or other unexpected need for funds.
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b) Covering unforeseen day-to-day operational costs.
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c) Funds to provide time for trustees to take action if income falls below expectation.
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d) Planned commitments, or designations, that cannot be met by future income alone.
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e) The need to fund short-term deficits in a cash budget.
The trustees consider that an unrestricted reserve of between 3 and 6 months unrestricted expenditure is sufficient to meet the above requirements. Reserves have increased to the year end 31 March 2024.
The Trustees have two designated funds. One designated fund is in respect of the net book value of fixed assets. Although these form part of general funds, they cannot be utilised for future expenditure. The second designated fund is to cover the costs of closure of the charity should it be considered that is no longer a going concern. This would enable the charity to meet its financial commitments on closure.
Investment policy and activities
The current policy is to keep reserves in an interest-bearing account and for sufficient funds to be available should they be required in an emergency.
PLANNING OUR FUTURE AND THE TASKS AHEAD
National Lottery Awards for All funding bid was successful, this will enable us to buy the much-needed IT equipment, Desktops, Monitors, Laptops and peripheries to replace old stock and future proof for when Windows 10 is no longer supported by Microsoft.
A successful bid for UK Shared Prosperity Scheme, distributed by Thanet District Council, will enable us to recruit a part-time Telephone Adviser for 6 months, this will bring focus to building up a local service to support Thanet residents to complement the National Service in place.
To seek further funding to support growing our Staff base. A bid has been made to Colyer-Fergusson Charitable Trust to fund a full time Supervisor/Adviser post. This is very much needed to maintain and grow our level of service to the community.
Renegotiation of our Service Level Agreement with Thanet District Council, as the current one comes to an end 31 March, 2025.
To continue with Funding Bids to Ramsgate Town Council, in 2025, to support our Ramsgate Office.
CITIZENS ADVICE THANET
Page 5
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024
PUBLIC BENEFIT
The trustees confirm that they have complied with their duty as prescribed by section 4 of the Charities Act 2006 to have due regard to the Charity Commission public benefit guidance.
Signed on behalf of the Board of Trustees by :
Sharon Wilding - Chairman
Date : 25 July 2024
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF
Page 6
CITIZENS ADVICE THANET
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 7 to 17.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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1 accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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2 the accounts do not accord with those records; or
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3 the accounts do not comply with the accounting requirements of section 386 of the 2006 Act other than any requirements that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
S J Wren FCCA Accountancy Matters (Kent) Limited Chartered Certified Accountants The Marlowe Innovation Centre Marlowe Way Ramsgate Kent CT12 6FA
Date : 15 August 2024
CITIZENS ADVICE THANET
Page 7
STATEMENT OF FINANCIAL ACTIVITIES (incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2024
| Notes Unrestricted funds £ INCOME Donations and grants 2 8,654 Charitable activities 3 121,702 Investment income 4 527 Fundraising income - TOTAL INCOME 130,883 EXPENDITURE Cost of raising funds 5 7,439 Charitable activities 5 106,003 TOTAL EXPENDITURE 113,442 NET (EXPENDITURE)/INCOME FOR THE YEAR BEFORE TRANSFERS 6 17,441 Transfers between funds 12 33,310 NET MOVEMENT IN FUNDS FOR THE YEAR 50,751 Balance as at 1 April 2023 161,014 BALANCE AS AT 31 MARCH 2024 211,765 |
Restricted funds £ 139,180 89,773 - - 228,953 - 178,282 178,282 50,671 (33,310) ~~v~~ 17,361 12,306 29,667 |
Total Total funds funds 2024 2023 £ £ 147,834 22,717 211,475 121,772 527 284 - - 359,836 144,773 7,439 6,690 284,285 143,233 291,724 149,923 68,112 (5,150) - - 68,112 (5,150) 173,320 178,470 241,432 173,320 |
|---|---|---|
CITIZENS ADVICE THANET
Page 8
BALANCE SHEET AS AT 31 MARCH 2024
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Debtors and prepayments 9 Cash at bank and in hand CURRENT LIABILITIES Creditors: amounts falling due within one year 10 NET ASSETS 11 Represented by: FUNDS OF THE CHARITY Unrestricted general fund 12 Designated funds 12 Restricted funds 12 TOTAL FUNDS |
4,780 284,708 289,488 54,459 |
2024 £ 6,403 4,304 191,372 195,676 34,454 235,029 241,432 165,362 46,403 29,667 241,432 |
2023 £ 12,098 161,222 |
|---|---|---|---|
| 173,320 | |||
| 108,916 52,098 12,306 |
|||
| 173,320 |
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under s.477 Companies Act 2006 and no members have deposited a notice under s.476 requiring an audit.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with s.386 of the Act for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Charities SORP FRS 102.
Approved and signed for issue by the trustees on 25 July 2024.
Sharon Wilding - Chairman
Simon Farrer - Treasurer
Company registration number - 04176324
CITIZENS ADVICE THANET NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Page 9
1 ACCOUNTING POLICIES
a) Basis of accounting
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 the Republic of Ireland FRS 102 (effective 1 January 2019) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102 and the Companies Act 2006.
Citizens Advice Thanet meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
b) Preparation of the accounts on a going concern basis
Citizens Advice Thanet operates on grant and project funding. Funding for core services is currently funded through grants by Thanet District Council. A 3-year funding agreement was put in place from April 2022, and negotiations are in place for this to be renewed. The success with bids for funding, and the review of core costs, all contribute to being able to operate the service within the funds available.
The Trustees consider that Citizens Advice Thanet is able to operate as a going concern for at least the twelve months from the date these accounts are formally approved. Funding is in place and sufficient reserves are held for the service to continue to operate.
- c) Income Grants receivable - grants made to finance the activities of the Charity are credited to the statement of financial activities (SOFA) accounting in the period to which they relate.
Bank interest - bank interest is included in the income and expenditure account on receipt.
Other income - other income, including donations and gifts are included as they were received.
Gifts and intangible income - in addition to the above, the charity also receives help and support in the form of voluntary assistance in advising the public. This help and support is not included in the financial statements. However, its value to the charity has been estimated and disclosed in the trustees' report.
Deferred income - grants received in advance of the period in which the funder requires the expenditure to be applied will be reflected within deferred income on the balance sheet.
d) Expenditure
All expenditure is accounted for on an accruals basis and includes VAT where applicable. All expenditure directly related to the provision of the advisory services is included within the charitable expenditure. Other costs incurred have been allocated between activities for generating funds and governance as appropriate. Where such costs relate to more than one functional cost category they have been split on an estimate of time spent.
e) Leases
Rental costs are charged to the Statement of Financial Activities as incurred.
f) Significant judgements and estimates
No significant judgements or estimates have had to be made by the Trustees in preparing these financial statements
CITIZENS ADVICE THANET
Page 10
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 ACCOUNTING POLICIES
g) Depreciation of fixed assets
Tangible fixed assets costing more than £1,000 are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows :
Leasehold improvements Over the term of the lease Computers, software and equipment 33% straight line Furniture and equipment 25% straight line
h) Fund accounting
Unrestricted funds are grants, donations and other incoming resources receivable by the charity without further specified purpose and are available as general funds.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. Restricted funds relates to income to be used for specific purposes as laid down by the donor.
| Unrestricted funds £ 2 DONATIONS AND GRANTS Thanet District Council - Household Support - Kent Community Foundation - DWP - Kickstart Scheme 500 The National Lottery Community Fund - Donations 8,154 8,654 3 INCOME FROM CHARITABLE ACTIVITIES Thanet District Council 106,702 Ramsgate Town Council - Cit A - Help to Claim - Cit A - Cost of Living 15,000 The National Lottery Community Fund Thanet District Council - Rough Sleeper - Tunbridge Wells & District CA - 121,702 4 INVESTMENT INCOME Bank interest receivable 527 |
Restricted funds £ 120,000 - - 19,180 - 139,180 - 20,000 - - 55,944 13,829 - 89,773 - |
2024 Total funds £ 120,000 - 500 19,180 8,154 147,834 106,702 20,000 - 15,000 55,944 13,829 - 211,475 527 |
2023 Total funds £ 10,000 6,000 5,740 - 977 |
|---|---|---|---|
| 22,717 | |||
| 96,914 20,000 (11,677) - 14,935 1,600 |
|||
| 121,772 | |||
| 284.00 |
CITIZENS ADVICE THANET
Page 11
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 5 EXPENDITURE Unrestricted Restricted funds funds £ £ Costs of raising funds : Wages and salaries 7,439 - Fundraising costs - - 7,439 - Charitable activities Wages and salaries 32,274 65,966 Subcontract labour - - Travel and other staff and volunteer costs 2,681 66 Grants - Household support - 108,000 Rent and room hire 11,040 - Relocation costs - - Light, heat and water 1,609 - Property repairs and cleaning 5,256 - Computer costs and IT support 3,101 - Office equipment repairs 927 - Insurance 4,480 - Telephone 1,607 - Publicity 205 - Printing post and stationery 2,311 - Training 968 4,250 CAB subscription costs 1,969 - Books and publications 974 - Sundries 106 - Depreciation 8,193 - Support costs Wages and salaries 21,175 - Accountancy fees 1,566 - Payroll costs 965 - Governance costs Wages and salaries 2,976 - Board and AGM meeting expenses 60 - Legal and professional - - Independent Examiner's fee 1,560 - 106,003 178,282 Total expenditure 113,442 178,282 6 NET INCOME This is stated after charging: Depreciation Loss on disposal of fixed assets Independent Examiner's remuneration : Management accounts Payroll fees Independent Examiners' fee |
2024 Total funds £ 7,439 - 7,439 98,240 - 2,747 108,000 11,040 - 1,609 5,256 3,101 927 4,480 1,607 205 2,311 5,218 1,969 974 106 8,193 21,175 1,566 965 2,976 60 - 1,560 284,285 291,724 2024 £ 8,193 - 1,566 965 1,560 |
2023 Total funds £ 6,690 - |
|---|---|---|
| 6,690 56,397 1,015 2,599 9,000 11,040 1,391 2,827 3,475 4,813 177 3,784 1,583 105 1,548 6,283 3,910 575 72 8,388 17,588 1,296 1,104 2,676 22 65 1,500 |
||
| 143,233 | ||
| 149,923 | ||
| 2023 £ 8,388 - 1,296 1,104 1,500 |
CITIZENS ADVICE THANET
Page 12
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 7 INFORMATION REGARDING EMPLOYEES Wages and salaries Social security costs Pension contributions Employment Allowance |
2024 2023 £ £ 122,767 80,602 10,008 6,361 2,055 1,388 (5,000) (5,000) 129,830 83,351 |
|---|---|
The average monthly head count was 6 staff (2023 - 4 staff).
The average number of employees based on full time equivalents analysed by function was:
| Advisory services Management and administration |
2024 2023 Number Number 4 3 1 1 5 4 |
|---|---|
No employee received remuneration of more than £60,000 during the year or the preceding year.
No trustees received remuneration, but one trustee was reimbursed expenses of £39 (2023 - no trustee received remuneration, but one trustee reimbursed expenses of £26) in their capacity as a trustee.
The total employee benefits (including employers national insurance) of the key management personnel of the charity were £29,756 (2023 - £26,762)
8 FIXED ASSETS
| Cost As at 1 April 2023 Additions Disposals As at 31 March 2024 Depreciation As at 1 April 2023 Charge for the year Disposals As at 31 March 2024 Net book value As at 31 March 2024 As at 31 March 2023 |
Leasehold Imp'ments 54,969 - - 54,969 45,008 6,292 - 51,300 3,669 9,961 |
£ 50,861 2,498 - 53,359 50,861 833 - 51,694 1,665 - Equipment Computer |
Fixtures & fittings 14,137 - (5,908) 8,229 12,000 1,068 (5,908) 7,160 1,069 2,137 |
Total £ 119,967 2,498 (5,908) |
|---|---|---|---|---|
| 116,557 | ||||
| 107,869 8,193 (5,908) |
||||
| 110,154 | ||||
| 6,403 | ||||
| 12,098 |
CITIZENS ADVICE THANET
Page 13
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 9 DEBTORS Prepayments 10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors Taxation and social security Accruals Deferred income 11 ANALYSIS OF NET ASSETS BETWEEN FUND General Designated funds funds £ £ Fixed assets - 6,403 Current assets 219,821 40,000 Current liabilities (54,459) - Net assets as at 31 March 2024 165,362 46,403 ANALYSIS OF NET ASSETS BETWEEN FUND - PREVIOUS YEAR General Designated funds funds £ £ Fixed assets - 12,098 Current assets 143,370 40,000 Current liabilities (34,454) - Net assets as at 31 March 2023 108,916 52,098 |
2024 £ 4,780 2023 £ 807 458 2,463 2,914 47,817 54,459 Restricted funds £ - 29,667 - 29,667 Restricted funds £ - 12,306 - 12,306 |
2023 £ 4,304 |
|---|---|---|
| 2022 £ 1,205 305 1,520 2,095 29,329 |
||
| 34,454 | ||
| Total £ 6,403 289,488 (54,459) |
||
| 241,432 | ||
| Total £ 12,098 195,676 (34,454) |
||
| 173,320 |
CITIZENS ADVICE THANET
Page 14
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 12 MOVEMENT IN FUNDS As at 1 04 2023 £ Restricted funds TDC - Relocation 3,490 TNL Community Fund - IT - TNL Community Fund - Better Lives - TDC - Rough Sleeper 4,116 TDC - Household Support - Ramsgate Town Council - KCF - Volunteer training 4,700 Total restricted funds 12,306 Designated funds Fixed assets 12,098 Charity closure 40,000 Total designated funds 52,098 Unrestricted general funds 108,916 Total funds 173,320 |
IncomeExpenditure £ £ - - 19,180 - 55,944 (35,522) 13,829 (13,160) 120,000 (108,000) 20,000 (17,350) - (4,250) 228,953 (178,282) - - - - - - 130,883 (113,442) 359,836 (291,724) |
As at Transfers 31 03 2024 £ £ - 3,490 - 19,180 (13,425) 6,997 (4,785) - (12,000) - (2,650) - (450) - (33,310) 29,667 (5,695) 6,403 - 40,000 (5,695) 46,403 39,005 165,362 - 241,432 |
|---|---|---|
RESTRICTED FUNDS
Thanet District Council - Relocation
In the previous year, £30,000 was awarded for the move and relocation costs. The new smaller office required a complete refit to make it ‘fit for purpose’. Further remaining money was spent in 2022/23, and further amounts may be spent in 2024/25.
TNL Community Fund - IT
This was awarded towards the end of the financial year to be spent in 2024-25 on IT as prescribed in bid.
TNL Community Fund - Better Lives
Restricted to project salaries of two Advisers, one 35 hours pw and the other 30 hours pw plus associated on costs of admin, supervision and management and other costs such as training, travel, IT provision, Insurance, memberships, reference materials, stationary. The aims of the project are to bring our advice service to venues in the community, such as foodbanks, children centres, community hubs, libraries where people in need of our help may be.
TDC - Rough Sleeper RISE
This ended 20 September 2023. Restricted to cover salary of 21 hour part-time adviser within the Rise Team plus a transfer to unrestricted funds to represent a contribution towards office costs.
TDC - Household Support
A total of £120,000 was received from Thanet District Council. £108,000 to distribute and £12,000 to cover administration of the project. The aim of the project was to help those unable to pay for essentials during the cost of living crisis. The £108,000 was distributed via vouchers from platforms Huggg and Charis, plus the Schoolwear Centre Shop in Margate.
Ramsgate Town Council
Funding from Ramsgate Town Council restricted to Ramsgate Office for paying for a part-time Supervisor/Adviser to enable advice service to function from the Ramsgate Office.
CITIZENS ADVICE THANET
Page 15
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
RESTRICTED FUNDS - cont'd
KCF - Volunteer training
Funding carried over from 2022/23 to cover training of volunteers, provided by Citizens Advice North West Kent. An amount of £450 remained of the original grant of £6,000. It was agreed with the funder that we could use this to put towards the cost of a desktop. A desktop was purchased and therefore the balance of the fund has been transferred to general funds to contribute towards the cost of the desktop.
DESIGNATED FUNDS
Fixed assets
A fund created by the Trustees and represents the net book value of the charity's fixed assets at the balance sheet date. The fund was created due to the increase in fixed assets and although they are within general funds the value of the assets cannot be utilised for future expenditure.
Charity closure
A fund created by the Trustees and represents the estimated costs of the charity having to close due to a lack of funding.
UNRESTRICTED GENERAL FUNDS
This (Operational Reserve) provides funding for the service to continue for a period of time should funding be withdrawn. This allows the Directors to seek further alternative funding or to reorganise the service to meet the available funding.
MOVEMENT IN FUNDS - PREVIOUS YEAR
| As at 1 04 2022 £ Restricted funds TDC - Relocation 5,476 Cit A - Help to Claim 11,484 KCF - Staff Training 4,885 Cit A - Single Queue 5,000 TDC - Rough Sleeper - TDC - Household Support - KCF - Volunteer Training - Total restricted funds 26,845 Designated funds Fixed assets 20,486 Charity closure 40,000 Total designated funds 60,486 Unrestricted general funds 91,139 Total funds 178,470 |
IncomeExpenditure £ £ - (1,986) (11,677) - - (4,885) - - 14,935 (9,739) 10,000 (9,000) 6,000 (1,300) 19,258 (26,910) - - - - - - 125,515 (123,013) 144,773 (149,923) |
As at Transfers 31 03 2023 £ £ - 3,490 193 - - - (5,000) - (1,080) 4,116 (1,000) - - 4,700 (6,887) 12,306 (8,388) 12,098 - 40,000 (8,388) 52,098 15,275 108,916 - 173,320 |
|---|---|---|
RESTRICTED FUNDS - PREVIOUS YEAR
Thanet District Council - Relocation
In the previous year, £30,000 was awarded for the move and relocation costs. The new smaller office required a complete refit to make it ‘fit for purpose’. Further remaining money was spent in 2022/23, and further amounts may be spent in 2023/24.
CITIZENS ADVICE THANET
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
RESTRICTED FUNDS - PREVIOUS YEAR - cont'd
Cit A - Help to Claim
The balance of funds from last year, which was due to a Help to Claim Adviser resigning before the end of the contract. We were unable to recruit to fill this role and therefore we had to return the unspent funds to Cit A.
KCF - Staff training
A grant from Kent Community Foundation (Kent Strategic Recovery Fund) for 1:1 support training of Citizens Advice Thanet Staff. The funds have been paid directly to Social Enterprise Kent, as allocated trainer for upskilling new Chief Officer and Service Co-ordinator in matters of ‘Good Grant Applications’, Leadership, Management and Finance to assist with rebuild of Citizens Advice Thanet.
Cit A - Single Queue
Money allocated from Cit A to build up Adviceline. We were able to repurpose the money to extend beyond of the end of the financial year to cover the costs of employing the Service Co-ordinator an extra day a week to focus on the rebuild of the service. The transfer to unrestricted funds represents wage costs and office costs for the period from April 2022 to June 2022.
TDC - Rough Sleeper RISE
A grant from Thanet District Council to cover the cost of one part time adviser on 21 hours per week to work as a Citizens Advise with the RISE team. The balance of these funds will be used in 2023/24. The transfer to unrestricted funds represents a contribution towards office cost.
TDC - Household Support
A grant from Thanet District Council to administer the Household Support fund. This covered items such as food vouchers and vouchers for household essentials to people in need. The transfer to unrestricted funds, was an agreed contribution toward administration costs.
KCF - Volunteer training
A grant from Kent Community Foundation to fund training of volunteer advisers, which took place during 2022/23 and 2023/24.
DESIGNATED FUNDS - PREVIOUS YEAR
Fixed assets
A fund created by the Trustees and represents the net book value of the charity's fixed assets at the balance sheet date. The fund was created due to the increase in fixed assets and although they are within general funds the value of the assets cannot be utilised for future expenditure.
Charity closure
A fund created by the Trustees and represents the estimated costs of the charity having to close due to a lack of funding.
UNRESTRICTED GENERAL FUNDS
This (Operational Reserve) provides funding for the service to continue for a period of time should funding be withdrawn. This allows the Directors to seek further alternative funding or to reorganise the service to meet the available funding.
CITIZENS ADVICE THANET
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
13 FINANCIAL COMMITMENTS
At 31 March 2024 the charity had future minimum lease payments under non-cancellable operating leases as follows:
| leases as follows: | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| within one year | 6,440 | 6,440 |
| within two to five years | - | - |
| after five years | - | - |
14 OTHER FINANCIAL COMMITMENTS
During the year ended 31 March 2022, the charity moved its offices in Margate and incurred expenditure of £18,875 which has been shown as Leasehold Improvements on the balance sheet and depreciated over the lease term. When the charity vacates the property it will be required to put the office back to their original state. The cost of this work cannot be accurately quantified and therefore has not been recognised as a commitment on the balance sheet.
15 MEMBERS LIABILITY
The company is a company limited by guarantee. Every member of the Charity undertakes to contribute such amount as may be required, not exceeding £10, to the Charity's assets if it should be wound up while they are a member or within one year after they ceased to be a member, for the costs of winding up and for the adjustment of the rights of persons who have contributed to the Charity's assets.
16 CORPORATION TAXATION
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
17 RELATED PARTY TRANSACTIONS
The charity did not undertake any transactions with related parties that require disclosure.