Chelmsford Citizens Advice Bureau Company Number 4063248 Registered Charity Number 1088290 A Company Limited by Guarantee Report and Financial Statements for the year ended 31 March 2024
Chelmsford Citizens Advice Bureau Reports and Financial Statements 2024 Contents Page Officers & profe$$ionvdl advisers Trustees report Statement of Trustees responsibllitles Independent examiner's report io Ststement of financial aetiviti¢$ Balance Sheet 12 Statement of cash flow 13 Notes to the accounts 14
Chelmsford Citizens Advice Bureau Reports and Financial Statements 2024 The Ints who held offic£ from the bewning of the year were El¢ct¢d by the members Mr M Barthee Mr W Chilvers Mr P Hollebon Mr M Tarala Ms R Woolley Chair R¢sign¢d 31 October 2023 Cowopted I l April 2023 Trcasu Chair from 28 November 2023 Co-opted I l April 2023 Chelmsford City Council nominated Coun¢illor L Ashley Councillor S Rajesh Councillor H Cla Resigned 27 June 2023 Nominated December 2019 Nominated 5 September 2023 Bureau Chief Executlve Mr R C Mynott Registered office Burgess Well House Coval Lane Chelmsford CMI IFW Bankers Unity Bank PLC POBOX 7193 Planetary Road Willenhall WVI 9DG Independent Examiner NSO Associates LLP 75 Springfield Road Chelmsford CM2 6JB
Chelmsford Citizens Advice Bureau TRUSTEES REPORT The Trustees, who are also Directors under the Companies Act 2006, present their report and financial statements for the year ended 31 March 2024. The Trustees, Report is also a Dir¢ctor's Report as required by Sectson 417 of the Companies Act 2006. The Trustees confirni that this Annual Report and financial statements have been prepaTed in accordance with current statutory requirements, the requirements of the company's governing document, and the Accounting and Reporting by Charities: Statem¢nt of Recommended Practice {SORP) which are applicabl¢ to charities preparlng their accounts in accordance with the Financial Reporting Standard applt¢able to the United Kingdom and Republic of Ireland. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Doeument Citizens Advice Chelmsford is a registered charitable company limited by guarantee. The company was incorporated on 31 August 2000 and registered as a Charity on 31 August 2001, ¢stablished under a MemoTaDdum of Association which established the objects and powers. The company is also governed under its Articles of Association. The MlmuM liability of each member is limited to a sum not exceeding £1 O which is the amount that each member undertakes to contribule to the assets of the charity in the event of its being wound up while he, she or it is a member or within one year after he, she or it ceases to be a member. A new Memorandum and Articles of Association were adopted at an Extraordinary General Meeting in October 2022. Objects and Powers of the Charitsble Company The objects of the charitable company are to promote any charttable purpose for the public benefit by the advancement of education. the protection and preservation of health and the relief of poverty, sickness and distress, but without limitation, for the benefit of the community in Chelmsford and surrounding areas. The powers of the Charity are set out in its Articles of Association and include, inter ali4 the tM)wer to establish, provide and assist in the provision of Local Cittzens Advice services and outlets supplying a free, independenL confidential and impartial servi¢¢ of advice, infornlation and counsel for the public in a manner that furthers the charitable company's Objects. Public Benefit Th¢ TneeS confm that they have considered and complied with the requirements set out in Section 4 of the Charities Act 2011 and have referred to the guidelines contained in the Charity Commission's general guidance on public benefit when reviewing Citizens Advice Chehnsford's aims and objectives and in the planning of fure activities. The Citizens Advice service provides free, independenL confidential and impartial advice to everyone on their rights and r¢sponsibilities. It valu¢s diversity? promot¢s ¢quality and chall¢nges discrimination. The Public Benefit is achieved by: Providing th¢ advice peopl¢ need for the problems they face" and Improving the policics and practices that affect people's lives.
Chelmsford Citizens Advice Bureau Recruitment and Appointment of Trustees Under its Articles of Association adopted in October 2022. the Chority is required to have a minimuln of four and a maximum of fifteen Trustees. Trustees are either elected at a General Meeting or co-opted by the Trustee Board at any other meeting ofthe Twstees. One third of the tnteeS will retire each year for the first three years after the introduction of the new Articles. Thereafter. elected Trustees retire at the end of the third A Thnual General Meeting. Co-opted Trust¢¢s retire at the third Annual General M¢¢ting following the Trus Board Meeting at which they were appointed. It is the policy of the Trnstees thaL in each calendar year, the Trustee Board will,. Review the range of skills. knowledge and experience of the Trnstees and the extent to which the Trustees are representative of thc community served by the Charity and to id¢ntify any gaps. To Consider whether such gaps should be addressed through tralning or by appointment of one or more dditional Truste¢s; and To agree, if necessary. a strategy for securing expressions of Interest from persons wishing to become a Trustee. Admisslon of Members Under the Articles of Association, Membership is open to other individuals or organisations who: apply to the charity in the fonn required by the Trustees; and are approved by the Trustees. and are, if individuals, over 16 and not paid workers, employ¢es or unpaid volunteers of the charity. Training All Trustees are given the opportunity to utilise Citizens Advice Chelmsford's training facilities and attend relevant training sessions. Trustees are also invited to attend the residential annual conference of Citizens Advice. OrganSsational Structure The charity is governed by its Trustee Board. The Trustee Board is responsible for setting the strategic direction and policies of the Charity. Th¢ Trustees carry the ultimate responsibility for the conduct of the Charity, including ensuring that it satisfies its legal and contractual obligations. The Trustees meets at least six times per year as a Trustee Board and d¢legate the responsibility for daY-tdaY running and implementation of strategies to the Chief Executive and senior management team. The Chief Executive and senior management team are responsible for the provision of services of the Charity. Th¢ Chief Executive is employed on a full-time basis and is asststed by both paid staff and volunteers. The services are delivered from the Charity's Coval Lane offices (its ¢¢ntral bureau) and oth¢r outr¢arh farilities. During the 2023 ... 2024 fmancial year, up to twenty eight full-time and part-time paid staff at any one time were employed at Citizens Advice Chelmsford. Citizens Advice Chelrnsford is a member of National Association of Citizens Advice Bureaux, registered charity number 279057. This membership provides a framework for standards of advice and casework managemenL as well as monitoring the Charity's progress against these standards. The National Association of Citizens Advice Bureaux has ov¢r 350 membeftB throughout England and Wales, and members can be contacted via the following address:
Chelmsford Citizens AdvRce Burea Citizens Advic¢ 3 Floor North 200 Ald¢rsgat¢ London ECIA4HD The Charity is also a consortium member of Citizens Advice Essex. registered charity number 1153582. Rlsk Management The Trustees have adopted a statement of risk policy under which.. Trustees must ensure that the major risks to which the Charity is exposed are r¢vi¢wed and Systems established to mitigate those risks. It is recognised that risks can arise both from the Charity's activities and a failure to act or exploit opportunities: Staff and volunteers are expected to consider the risks of any activity and act in accordance with any recommendations for risk management; and Proposed new activities. significant increases in existing activities and significant changes in the way those activities are pursued, are first required to be the subject of a proper proposal to the Trustees and risk assessed. The Trnstees regularly r¢view the major risks to which th¢ Charity is exposed and engage with the systems that are in place to manage and mitigate those rlsks. A risk management committee meets monthly to track the risks faced by the Charity and monitor agreed mitigations. Thes¢ risks and mitigations are documented in a risk register. The minutes, monthly report, and risk register ITOM the risk management committe¢ are shared with the Trustees at each meeting of the Trustee Board. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the Charity's premis¢s at Burgess Well House, Coval Lane. These proC¢dU5 are owned and maintained by the Chief Executive. To ensure a consistent quality of delivery for all operational matters, the Charity Complies with the membership requirements of Citizens Advice and of the Advice Service Allianc¢ (ASA) and is audited regularly by those bodies. OWEcfivES AND ACTIVITIES Achievement and performance During the 2023 - 2024 financial year, Citizens Advice Chelmsford undertook the following: 13.444 rlients were assisted with 27,137 issues. Financial Services and Capability continue to be the most common advice issu¢, reflecting the importance of Pensionwise and the ongoing cost of living crisis. 8.580 clients were seen and 11,748 issues were addressed regarding Financial Services and Capability. Assisted 1,520 cli¢nts with 4,257 Benefits, tax credits and Universal Cr¢dit 15su¢s in the 2023- 2024 financial year. Personal Independence Payments and Benefit Entitlements continue to be the main issues faced by cli¢nts. Total income gain rosS all areas. including loans and reimbursements wa5 £1,378,518.
Chelmsford Citizens Advice Bureau Assist¢d 643 clients with 1,445 debt issues. £146,109 of debt was written off b¢cause of our guidance and support. Fuel debt now makes up the majority of debt issues addressed by the Charity. The Chelmsford Law Clinic continued to provide 30 minutes of free legal advice. The Clinic helped 404 clients with 819 issues covering 8 areas of law. The Chelmsford Law Clinic works with its pro-bono providers and Lawworks partner organisations to support many of these clients and enable them to gain access to in- depth pro-bono advice. During the 2023 2024 financial year, over 80 volunt¢¢rs gave their time to support Citizens Advice Chelmsford. FINANCIAL REVIEW Financial Performanee The results for the year ended 31 March 2024 are set out in the Statement of Financial Activities on Pag¢ I l. These show an operating deficit for the year of £1,347. This was offset by an actuarial adjustment of the Defined Benefit Penston Scheme of £210,000 deficit due to the implementation of an asset ceiling Tjot tsken a¢count of in the previous year. This resulted in a reporting deficit in the year of £211.347. Net assets at 31 March 2024 were £263,798 (compared to £475,145 in 2023). Unrestricted reserves were £194,067 and restricted reserves were £49,731. The Financial Statements do not reflect the value of time donated by volunteer advisers. clerical assistants and other supporters. The Charity continues to depend on unpaid volunteers to function effectively. Principal Fundlng Sources The principal funding source for the Charity for the provision of genernl advice continues to be by way of grant income from Chelmsford City Council and Essex County Council. HM Treasury has provided restricted funds through the National Association of Citiz¢ns Advice Bureaux for Pensionwise (a project that advises clients on the options open to them in resp¢ct of their pension opportuniti¢s}. The Departsnent of Work and Pensions has provided restricted funds via the National Association of Citizens Advice Bureaux for the delivery of some Benefits advice. Other major funding sources have come from the Essex Community Foundation and from Citizens Advic¢ Essex for specific project work. Donations The Trustees are most appreciative of the many organisations and individuals who have made donations during this financial year. Investment Policy Aside from retaining a prud¢nt amount in res¢rv¢s each year, most of the Charity's funds are to be spent in the short ierni, and so there are few funds available tor long terni mvestment. The Charity's investment policy is to place any surplus funds in interest earning Deposit bank accounts to maximise income whilst provtding security for capital. RerveS Policy It is the aim of the TnteeS to hold unrestricted liouid reserves amountin2 to £155.000 which reflects the riskg of unplanned closure of CheImsford Citizens Advice. At 31 March 2024. unrestricted r¢serves totalled £194.067 before
Chelmsford Citizens Advice Bureau the Pension Fund Reserve of £20,000 is add¢iL The Trustees carefully monitor the Clwity's reserves and will review tbe Charity's Reserves Policy at least annually. The Trnstee Board can change the amount of UDr¢strictsd liquid reserves held at any time. PLANS FOR THE FUTURE The Strategic direction ofthe Charity is dictated by and documented tn Citizens Advice Chelmsford's strategic business plan, which is a living document that the Trustees regularly review and update throughout the year. This businc5s plan is used to inform the decision-making of the Thee5, Staff and volunteers. and to monitor the perforniance of the Charity. Th¢ Trustees expect that the Charity will continue to work towards achi¢vin8 its three matn strategic objectives". Ensuring that our advice is always high quaIity, accessible, tailored and timely: Speaking up for our clients and lobbying for meaningful change: and Guaranteeing tlkat our services will be availablc wh¢never our clients need them. Citiz£ns Advice Chelrnsford is influenced by relevant local and national policies. The policies of central government impact on the voluntary sector's fidIng regimes. which are operated by the principal fundeTS of the Ch8rity _ Chelmsford City Council and Essex County Council. As a resul( the Trustees keep under review how best to respond to these external challenges aDd ¢xplore with existing funders. other LCAS and the National Association of Citizens Advice Bureaux. new partnerships and different ways of working. Statement of Recommended Practice (SORP) whicb are applicable to charities preparing their accounts in accordance with rhe Financial R¢porting Standard applicable to the United Kingdom and Republic of Ireland {(FRS 102) effective l January 2015) and th¢ Companies Act 2006. Approved by the Tnthe Board OD 3 September 2024 and signed on its behalf. By order of the board Chair of TnJste¢s
Chelmsford Citizens Advice Bureau Statement of Trustees, Responsibilities The trustees (who are also directors of Chelmsford Citiz¢ns Advi¢¢ Bureau for the purpos¢s of company law) ar¢ responsible for preparing the Trustees, Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare fmancial statements for each financial year which giv¢ a tnje and fair vtew of the state of affairs of the charitable company and of the incoming resources and application of resourccs of the charitable company for that period. In pr¢paring these financial statements, th¢ trustees are required to: select suitable accounting pollcies and apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained IT) the financial statements. prepare the financial statements on the going concern basis unless it is appropriate to presume that the charitsble company will continue in operation. The trustees are responsible for keeping proper acwunting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure thatthe financial statements comply with Charities Act 2011 and the provisions of the Companies Act 2006. They are also responsible for safeguardin8 the assets of the charitable company and hence fortaking reasonable steps for the prevention and detection of fraud and other iegUlar1ties. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdtctions.
Chelmsford Citizens Adviee Bureau Independent Examiner's Report to the Trusle¢s of Chelmsford Citizens Advice Bureau I report to the trustees (who are a]50 Dtrectors for the purpose of company law) on my examination of the financial ststements of Chelmsford Citizens Advice Bureau ('the charltable companv,) for the year ended 31 March 2024 which comprise the Staiement of Finiincial Activities, the Balance Sheet, the Statement of Cash Flows and relatrd notes. This report is made solely to the charity's trustees, as a body. in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I mighi state to the charitV'8 tNstees those matters l am required to sthte to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the charity and the harity's trustees as a bod!, for my work. for this reporL or for the opinions I bave formed. Responslbilities and basis of report As the trustses of charitable company vou llrL' rL&ponsible for the preparation of the financial stat¢ments in aLK'ordanLe with th¢ requirements ot the Companies Act 2006 ('the 2006 Act.). Having satistied myself that the financial statements of the charitable company are not required to be audited under Part 16 of thc Acl and ar¢ eligible foT independenl examin10n, I report in r¢spect ot my examin&tion of the charitable company's fjnancial statements carried out under seLtion 145 of the Charities Act 2011 ('the 2011 Act,) and in c8rryin8 Out my examination I have followed all the applicoble Directions given by th¢ Charity Commission under section 145(5)(b) of the 2011 Act. An indcpendent examination does not involve gathering all the evidence that would be required in ai) audit and Loll5¢qu¢ntly does not Lover all the matters that an auditor considers in giving their opinion on the financial statements. The planiiing and conduct of an audit gues beyond thL limitLd assurance that an indepeiident examination Can provide. Consequently l express no opinion as to whether the finan¢iol statements present ts'irue and fair, view and my repK)rt is limited to thos¢ specific matters sel out in the ind¢pcndeni examiner's statement. Independent examiner's statem¢nt Sin¢e the charitable companv's 8r05s income exceeded £250,000 your examiner must be a member ot"a body listed in 110 145 of the 2011 Act. I confirm that l am qualified to w)dertake the examinaiion beLaiis¢ l am a member of ACCA, whith 15 one of the listed l)odies. I hove ¢ompletbd my exumination, I confirn) that no matcrial matters have come to my attention in connection with the examination giving Me caus¢ to believe that in any material respect:
accounting records wcre not kept in r¢spect of the CharibIe company as requircd by se¢tion .386 ot. the 2006 ACL. or The finanLial statements do not accord with those recx)Tds" or the financial siatements do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the finanLial sta*ments give a 'true and fair view, which 18 not a matter consldered as part of an independent examin8tion' or tbe flllancial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and r¢porting by charili¢s applicable to chorities preparing thcir ac¢ounts in accordance with the Financial R¢porting Standard &ppli¥ablc In the UK and R¢public of Ireland IFRS 102). I havc no concerns and have come acn)s¥ no othcr matters in ci)nn¢ction with the examinatioll to which attention should be drawn in this report in order to ¢nable a pmper understanding of the financial statements to be reached. Elaine Oddie OBE MA FCA FCCA NSO Associates LLP 75 SprÈngfJeld Road. Chelmsford, CM2 6JB 3 September 2024 10
Chelmsford Citizens Advice Bureau Statement of Financial Activities for the year ended 31 Mareh 2024 2024 2023 Notes Unrestricted Restrieted Totsl Unrestricted Restricted Total Ineome Bank interest received Donations Charitable activities Oth¢T income Tolal income 1,721 1,721 851 2,270 172,934 851 13 2,283 633.166 806,100 122,855 745,894 868,749 176,618 745,894 922,512 176,055 693,353 869,408 Expenditure Charitable activities FRS 102 pension movements Service costs Employer contribution 197,642 718,217 915,859 211,365 780,035 991.400 15 8,000 8.000 27.000 27,000 15 (19,000) (19,000) Total resourees expended 205,642 718,217 923,859 219,365 780,035 999,400 Net Intome (expenditure) in the year (29,024) 27,677 (1,347) (43,310) (86,682) (129,992) Actuarial gains (losses) on defined benefit pension schem¢ 15 {210,000) (210,000) 154,000 154,000 Net Ineome (deficit) In the year after actuarial adjustments 239 024 211347 110690 Balance brought forward Net movements from above Transfer b¢tween funds Balance carried forward 467,222 7,923 475,145 451,007 130 451,137 {239,024) 27.677 (211,347) 110,690 (86,682) 24.008 214,067 263,798 467,222 475 145
Chelmsford Citizens Advice Bureau BaJaDce Sheet as at 31 March 2024 Notes 2024 2024 2023 2023 Fixed assets 8,667 15,169 Debtors Cash at bank and in hand Current assets 76,275 315 762 392,037 30,978 269 664 300.642 Creditors: Amounts falling due withln one year io (156,906) (78.666) Net current assets 235.131 221,976 C*sh Flow generated from operntioDS Defined benefit pension scheme assets (liability) 243,798 237,145 Defined benefit pension scheme 15 20,000 238,000 Net assets 263 798 475 145 Unrestricted llds Pension fimd reserve Restricted funds Net Reserves 11 194,067 20,000 49,731 229,222 238,000 7,923 263 798 475 145 For the year ending 31 March 2024 the ¢ompaDy was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The trugtces have not required the company to obtain an audit of its financial statements for the year in question iu accordanrx with section 476 The trustees acknowledge their responsil)ilities for cornplyiDg with the requirements of the Act with respect to accountiDg cordS and th¢ preparation of financial statements. These fmancial statements were approved by the trustees on 3 September 2024 Signed Mark Tarala Chair of trustees 12
Chelmsford Citizens Adviee Bureau Statement of Cash Flow for the year ended 31 March 2024 2024 2023 Cash Flows from Operating Activities Net income (expenditure) in the y&qr Adjustments for Depreciation Interest income (Increasey Decrease in debtors Incre&sel (Decrease) in Creditors FRS 102 Defined benefit pension scheme adjustment (1,347) (129,992) 10,102 (1,721) (45,297) 78.240 8.000 12.772 (851) 10,483 (26,964) 8,000 Cash Flow genergted from operAtion$ 47,977 (126,552) Interest income Purchase of tangible fixed assets 1,721 (3,600) 851 {8,140) Net inerease l(deerease) in Cash 46,098 (133,841) Cash at beginning of the year 269,664 403,505 Cash at the end of the year 315,762 13
Chelmsford Citizens Advice Bureau Notes to the accounts (continued) For the year Ended 31 March 2024 Accounting Policies Accounting Convention The fmancial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective l January 2015) - (Charities SO (FRS 102)) and the Companies Act 2006. Chelmsford Citizens Advice meets the definition of a public benefil enÉity undeT FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Voluntary Income Cash donations and gifts are included in full in the Statement of Financial Activities wh¢n the amounts receivable have been ascertained. Investment Income Interest receivable is included gross. Grants Receivable Grants are recognised as income when they are receivable. Related expenditure is included under the appropriate heading. Operating t£ases Rentals paid under operating leases are charged to the Profit and Loss account on a straight line basis over the period of the lease. Allocation of General Funds Costs Under Expenditure Headings Overall Expenditure has been allocated between th¢ following major cost centres: Raising fidS Charitsble activities Depreciation Fixed assets are stated at cosL or estimated market value at the date of receipt where the asset has been donated to tbe charity. The Bureau has a de minimus policy of capitalisation of fixed assets of £500. Depreciation is calculated to write-off fixed assets over their estimated use1 liv¢s at the following annual rates.. IT. Telecom and oifice Equipment 330/0 on cost Restricted Funds Where restrictions have been placed on the use of income, the amount received has been Classified as restricted income. Going Concern The financial statements have been prepared on the going concern basis. 14
Chelmsford Citizens Advice Bureau Notes to the accounts (continued) For the year Ended 31 March 2024 1.10 Pension Fund The company operates a defined benefit pension scheme for eligible fornier and current employees and a defined contribution scheme for other employees. The assets of the scheme are held separately from those of the company. Pension scheme liabilities are measured on an actuartal basis using a PTojected unit method and are discounted to their present value using a quality corporate bond rate. Pension scheme &8sets are valued at market value at the balance sheet date. The pension scheme surplus is recognised in fijll on the balance sheeL There are no defe tax implications. Interest Income 2024 2023 Bank interest on deposit accounts 1,721 851 Donations The Charity benefits greatly from the involvement and support of its many volunteers, details of which are given in the annual report. In accordance with accounting standards, the economic contribulion of volunteers is not measured in the accounts. 15
Chelmsford Citizens Advlce Bureau Notes to the accounts (continued) For the year Ended 31 March 2024 chitable Activities 2024 2023 Unrestricted Unrestricted Grants Chelmsford City Council 103,583 114,629 Ess¢x County Council 5,413 National Citizens Advice 15,000 Citizens Advice Essex 5.238 15,192 Other 8,621 28.113 122 855 172 934 Restricted Restricted Grants Pensionwise 480,230 483,589 Law Project 15,000 Civil Military Partnership Board 4,687 14,063 Foodbank 39,238 9,800 British Gas Energy trust 35,240 17,471 Essex Community Foundation Writtle Housing 53,004 39,708 Citizens Advice Essex - Warni Homes 22,983 27,387 Citizens Advice Essex - Warni Start 26,100 26,148 Probation 11,150 UK power networks 73,262 745 894 633 166 16
Chelmsford Citizens Advice Bureau Notes to the aeeounts (continued) For the year Ended 31 March 2024 Other Income 2024 2023 Central Law Group 52.042 60,174 Resources expended- Charitable Activities 2024 Reslrieted Tolal 2023 Unrestrleted Restrleted Tolal Unrestricted Salaries and pension costs Staff and volunteer costs otrice Premises Governance Independent examinalion Partner Payments Other costs 101,190 563,672 664,862 106,679 621,748 728,427 (2,876) 35.566 51,924 (782) 9,031 17,319 13,626 1,133 6,155 52,885 65,550 351 1,319 47,119 42,791 242 4,225 18,072 16,460 ,150 5,544 65,191 59,251 1,392 1,500 1,500 112,710 112,710 726 11,846 1.420 1,420 113,100 17.075 113,100 5.280 11,120 11,795 Total resources expended 718 217 915 859 211365 780 035 991.400 Employees and Trustees 2024 2023 Staff costs Wages and salaries 600,440 642,747 Social security costs 50,116 49,951 Pension costs 14,306 35.729 Total 664,862 728,427 Average monthly head count 25 26 17
Chelmsford Citizens Advice Bureau Notes to the accounts (continued) For the year Ended 31 March 2024 One employee earned in excess of £60,000 during the year (2023 - one). Remuneration for Key Management Persomiel totalled £123,930 (2023 - £130.739) No trustee received any remunerdtion or had any expenses reimbursed during the year (2023: none). Fixed Assets for Charity Use 2024 2023 IT, Telecom & Office Equipment IT, Telecom & Office Equipment Cost l April 2023 Additions 31 March 2024 164,935 156.795 168,535 164 935 Depreciation l April 2023 Charge 31 March 2024 149,766 136,994 12.772 149 766 159 868 Net Book Value 31 March 2024 31 Mar¢h 2023 15,169 19,801 15,169 All assets are used for charitable purposes Debtors 2024 2023 Accrued Income Prepaym¢nts 70,105 24,792 76,275 30,978 io Creditors 2024 2023 Cr¢ditots' Amounts falling du¢ within one year Other creditors 156.906 156,906 78.666 18
Chelmsford Citizens Advice Bureau Notes to the accounts (Continued) For the year Ended 31 March 2024 Funds Total resource5 expended Opening Balance Incoming Resources Resources expended Actuarial adjustment Transfer from Closing unrestricted Balance 2024 Restricted funds Pensionwise Warni Homes Warni Start ECF Housing fund Foodbank BGET Probation UK power netWoS Civilian Milttary 7,687 480,230 22,983 26,100 53,004 39,238 35,240 11,150 73,262 4,687 (486,334) (29,814) (27,172) (47.849) (33,053) (30,615) (6,816) (45,502) (11,062) (486,334) (29,814) (27,172) (47,849) (33,053) (30.615) (6,816) (45,502) (11,062) 1,583 6.831 925 147 5.155 6,185 4,714 4,334 27,760 89 6,375 Totgl Restrieted Funds 7,923 745,894 (718217) (718,217) 14,131 49,731 Unrestricted funds Pension reserve 229,222 238,000 176,618 (197,642) (197,642) (218,000) (14,131) 194,067 20,000 (218,000) Total Funds 475 145 922 512 915 859 218000 1133 859 263 798 19
Chelmsford Citizens Advice Bureau Notes to the accounts (continued) For the year Ended 31 March 2024 Total Actuarial resources adjustment expended Opening Balance Incoming Resources Resources expended Transfer from Closing unrestri¢t¢d Balance 2023 Restricted funds Pensionwise Warni Homes Warni Start ECF Housing fund Foodbank BGET Probation UK power networks Civilian Military CAE Law Clini Central Law Group Volunteer fijnd 10,448 {2,077) 34 483.589 27,400 26,148 39.708 9,800 17,471 (486.350) (26,749) (26,035) (41.069) (10,103) (17,382) (486,350) (26,749) {26,035) (41.069) (10,103) (17,382) 7.687 1,426 147 1.361 303 89 (5,415) 14,063 (23,552) (23,552) 14.904 3,141 15,000 60,174 (13.591) (135,204) (13,591) (135,204) (4,550) 75,030 6,001 (6,001) Total Restrieted Funds 130 693.353 (780.035) (780,035) 94,475 7,923 Unrestricted funds Pension reserve 359,007 92,000 176,055 (211,365) (211,365) 146,000 (94,475) 229,222 238,000 146,000 Total Funds 451 137 869 408 991,400 146 000 845 400 475 145 12 Capital Commith)¢nts There w¢re no capital commitments at 31 March 2024 (2023 NIL) 13 Financial Commitments At 31 March 2024 the company had total commitments under non-cancellable operating l¢as¢s as follows Offic¢ Equipvn¢tLt: Later than one year and not later than five years 20
Chelmsford Citizens Advice Bureau Notes to the accounts (continued) For the year Ended 31 March 2024 14 Relat¢d Party Transactions 2024 2023 Income Citizens Advice Bureau 480,230 498,589 Citizens Advice Essex 168,735 69,175 648.965 567,764 Expenditure Citizens Advice Bureau 7,667 7,667 Citizens Advice Essex 250 250 Citizens Advice Stevenage 112,710 113,100 120 627 121017 21
Chelmsford Citizens Advice Bureau Notes to the accounts (continued) For the year Ended 31 March 2024 15 Pension Contribution The Chelmsford Citizens Advice Bureau participates in a defmed benefIt scheme based on fmal pen5ionabl¢ pay operated by Essex County Council. The assets of the scheme are held separately from those of the charity. The contributions are deterniined by independent qualified actuaries on the basis of triennial valuations using the projected unit method. The most recent full actuarial valuation was at 31 March 2023 and has specified the employer rates applicable for the three years from l April 2020. To assess the value of the charity's liabilities, the value of the liabilities calculated for the funding valuation at 31 March 2020 have been Tolled forward allowing for the different financial assumptions requir¢d und¢r FRS 102. To calculate the asset shar¢ the assets have been roll¢d forward allowing for investment returns. contributions paid into and estimated benefits from the Fund by and in respect of the charity and its employees. The assumptions that have the most significant effect on the results of the valuation are those regarding the rate of return on investments and the rate of incr¢as¢ in salaries and pensions. It was assumed that the discount rate would be 2.6 0/0 per annum, that salary incr¢ases would be 4.30 0/0 per annum and that pension increases would be 3.30 0/0 per annum. Assets 2024 £ooois 2024 2023 £ooo's 2023 Equities Gilts Other bonds Propety Cashltemporary investmenty Alternative assets Other managed fijnds 437 14 56 406 io 58 54 19 120 144 58 23 15 18 16 14 96 Total 788 100 704 loo 22
Chelmsford Citizens Advice Bureau Notes to the accounts (continued) For the year Ended 31 March 2024 Asset reconciliation 2024 £ooo's 704 34 52 2023 £ooo's 689 18 (16) {4) 2022 £ooo's 607 12 49 Opening fair value of Fund assets Interest on assets Return5 on assets less interest Other actuarial gains /(losses) Administration expenses Contribution by employer Contributions by scheme participants Estimated benefits paid 19 23 (9) (8) (8) Closing fair value of fund assets 788 704 689 Defined benefit obligation reconciliation Opening defined benefit obligation Current service cost Interest cost Changes in fjnancial assumptions Changes in demographic assumptions Experience gainsl(loss) on def. benefit obligations Estimated benefits paid Past service costs, including curtailments Contributions by Scheme participants 466 20 22 597 30 15 (188) (17) 31 (8) 578 29 (20) (6) (9) (8) Closing deflned ben¢fit obligations 501 466 597 Remeasurements in other income Return on Fund assets in excess of interest Other actuarial gaiDs/(losses) on assets Changes in financial assumptions Changes in demographic assumptions Experience 8ainsl(loss) on def. benefit obligations Changes in effect of asset ceiling 52 (16) (4) 188 17 (31) 49 20 (i) (267} (i) Remeasurement of net assets/{defRned liabillty) (210) 154 68 23
Chelmsford Citizens Advice Bureau Notes to the accounts (Continued) For the year Ended 31 March 2024 Value of scheme assets and liabilities 2024 £oooi 2023 £ooois 2022 £ooois Value of scheme assets and liabilities Fair value of Fund assets Present value of defined benefit obligation changes in effect of asset ceiling Net pension scheme asset ( liability) 788 (501) 267 20 704 (466) 689 (597) 238 92 Amounts recognised in SOFA for the year to 31 March 2024 Service cost Net interest on deferred liability 20 12 30 29 27 28 Less Employer contribution Nil (19) {23} FRS 102 disc105ures are not on the same basis as the triennial actuarial revi¢w of the pension fund valuation and th¢ two ar¢ for different purposes. FRS 102 is a one off assessment at the year end for accounting disclosure purposes. The FRS 102 calculations are more prescriptive. At the current time they emphasise the liabilities and produce a balance sheet position worse than the triennial valuation position. 16 Ultimate Controlling Party The charltable company is managed by its trusteesldirectors and has no ultimate controlling party. 24