Registered number: 04212031 Charity number: 1089052 DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 *ADFRAWPL' 1211112024 COMPANIES HOUSE A10
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) CONTENTS Page Reference and admlnl8trative detall8 of tho company. Its Tru8tee8 and advlsern Trust•e8' report Independent •xaminef8 report 10- 11 Statement of flnanclal actlvltle8 12 Balance sheet 13 Statement of cash flow8 14 Notes to the flnanclal statements 15-29
DISS. THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 J Wade. Chair D Gaze S Beevor P Norman. Treasurer (appointed 20 April 2023) H Legge-Bourke, TaSurer (resigned 20 April 2023) C Sargisson {appoinled 1 October 2023) S May (apwinted 10 January 2024) J Glenn (resigned 31 May 2023) M Morse MBE (resigned 14 November 2023) C Ellis (appointed 25 June 2024) Company regl8t•red number 04212031 Charlty registered number 1089052 Registered office Diss Thetford and District Citizens Advice Bureau Shelfanger Road Diss Norfolk IP22 4EH Company 8ecretsry K Joyce CEO A Griffiths Accountant8 Larking Gowen LLP Chartered Accountants Faiers House Gilray Road Diss IP22 4WR Page 1
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company Ilmited by guaranteg) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Bankers Barclays Bank plc 14 Markel Hill Diss Norfolk IP22 4EH Shawbrook Bank Lutea House. Warley Hill Business Park The Drive Great Warley Brenlwood Essex CM13 3BE Red0d Bank Suile 101, The Nexus Building Broadway Lelchworth Garden City Hertfordshire SG6 3TA Nationwide Building Society Nationwid8 House Pipers Way Swindon SN38 1 NW Page 2
DISS. THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Truslees present their annLJal report together with the financial statements of the company for the 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice {SORP) applicable to charities preparing their accounts in accordance with the Financial Rewrting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since th8 company qualifies as small under section 382 of the Companies Act 2006, the Slrategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. The company is commonly known as Citizens Advice. Diss Thetford and Districl, or CADAT. We are pleased to present our accounts narrative, which summarises our 2023124 perfomance and outlines the stralegic use of the recent legacy donation lo Citizens Advice Diss, Thetford & District (CADAT). This generous contribution marks a transformative moment for our organisation, enabling us to expand our impact and deepen our commitment to the community. This year, due to our focused strategic review and direction, clear funding strategy, careful resource management, and continued investment in our people, we have delivered significant value and impacl for our local communities. In financial terms, these activities resulted in a small surplus for the year. This has been achieved against a backdrop of a challenging economic climate and a tumultuous political landscape. We know that we will have to work even harder in coming years to ensure our sustainability. The substantial legacy received post-year end provides us wth the opportunity to build on our expertise and achieve Iransformalive change for our communities, above and beyond the accomplishmenls of 2023124. Objectives and activities a. Our purp08e We improve the lives of all those in our community by resolving challenges wilh a 'no barriers, approach to support, guidance and insight, Whatever It Takes - We believe everyone is important in our community, so we take an extremely person centric approach to every challenge we are asked to help resolve. We work together, hand in hand with our clients lo seek the best next steps,. providing confidence in our support and empowering our community with the depth and detail of our re*arch. We are a local charity providing general advice on any given issue and further specialist support in Benefits, Debt, Energy, Housing, Crisis and Employment. Overlaying individual advi needs is the overarching impact Socio-economic deprivation places on our community's mental wellbeing. which we are committed to improving through our reach, impact and quality of advice. Our advice is provided with compassion, knowledge and understanding by our expertly trained volunteers and staff across multiple channels via in-person, telephone and email. Our alm8 and objective8 Sustainability.. achieve sustainability driven by income diversification and cost control guided by a clear funding strategy Page 3
DISS, THETFORD AND OISTRICT CITIZENS ADVICE BUREAU {A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objectives and actlvltle8 (continued) Advice: our communities will be provided with free, impartial and quality advice that is timely, relevant and based on the person, organisation or situation. Ro8earch & Advocacy: in partnership and collaboration v48 will provide opportunities and platforms for community Vol and influencing captured and monitored via feedback, data, engagement and research. Communlty led and Partnership.. We will always seek to improve and enhance our 8ervice8 and activities through community engagement and working in partnership and collaboration. Innovation and data.. our approach will seek to do things better or differently, tracking trends or pattems to predict and improve oulcomes. People: support and develop our people and community giving them the confidence and skills to navigate and thrive. Our service provides generalisl advice in finance. welfare benefits, employment, housing, family & personal matters, immigration & nationality, health, education and discrimination. This is provided through in-person and telephone appointments, advicEline and email advi requests. Achievemonts and perfomiance Sustainability: fundlng and Income We have developed a five-year strategy, placing a clear focus on our sustainability through income diversification and generation going forward guided by a focused funding strategy and KPI monitoring on a quarterly and annual basis. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit and complied with the duty in Section 4 of the Charities Acl 2011 when reviewing our aims and objectives and in planning our future activities. In particular. the Trustees consider how planned activities will contribute to the elms and objectives they have set. b. Revlew of activities Porfomiance Our core activity increased further in 2023124 serving just under 12,000 individual clients, reflecting the continuing impact of the cosl-of-living crisis on our community. Key activities and issues relate to accessing benefits, debt and utilities. Specialist projects and initiatives are meeting and delivering against expected service levels and targets. Demand for energy advice continued to be a significant area of demand due to the cost of living and energy prices. Demand for specialist welfare advice for the Big C continues to outstrip capacity and further funding is being sought. Our volunteer network remains key to providing our core advice, and we've been sucSsful in attracting and recruiting new volunteers and NEDS to the organisation. Page 4
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perfomianco (contlnued) Strategic Allocation of Legacy Funds: Six Pillars of Focus Our approach to utilising the legacy that was received after the year end is driven by a focus on local community support, collaboration, innovation, and sustainability. We have identified six key pillars Ihat will guide our actions over the next f ive years, ensuring that this donation is leveraged to its fullest potential to drive long-term, meaningful change. Corn Advico Continue lo provide free impartial quality advice and guidance to 811, on anything. Using data, we drive change in our communities. Be the voice for our community, taking a collaborative and proactive approach to improve lives. Money Guidance We will enhance our debt and money management seNices to provide comprehensive support for individuals facing financial challenges. By expanding our team of financial advisors and developing robust educational programs, we aim to equip our community with the knowledge and resources ne$sary for financial stability and independence. Energy Advice As energy cosls continue to rise and environmental concerns grow, our commitment lo offering energy advice is more critical than ever. We will provide resources lo help our community manage energy expenses, adopt sustainable practices, and participate in workshops focused on energy efficiency, in partnership with local organisations. Employment Advlce We will continue to provide and strengthen our volunteer nelwork volunteers across our organisation to build skills, provide meaningful opportunities and harness the power of volunteers to create value and impact. Employment is a cornerstone of economic security, and we are dedicated to strengthening our employment advisory services. This includes offering job search support, skills development programs, inleNiew preparalion. and advocating for fair employment practices to ensure that everyone has access to meaningful Vrk opportunilies. Welfare & Beneflt8 To address the complex needs of our community, we will expand our specialist welfare and benefits services. This includes offering more in-depth support in areas such as housing, benefits, and legal aid, helping individuals navigate diff icull circumstances and access essential resources. Page 5
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guaranteè) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance (contlnued) Health and Wellbelng Support We'll continue to provide collaborative community support that enhances and improves people's lives and seeks to provide holistic and preventive support. A five-year plan: This legacy allows us to embark on a comprehensive five-year plan designed to strengthen and expand our services across these six pillars which will focus on: Building capacity within each pillar ensuring we have specialist skills and knowledge. We'll enhance our infrastructure and invest in training programs to broaden access to our Servi$. Build on current projects and introduce new initiatives, such as launching community education programs on financial literacy and energy efficiency, and establishing sustainable affordable food hubs Conduct thorough evaluations of our programs based on community feedback and impact assessments. Adapting and reviewing our strategy and objectives to meet emerging needs and ensure our services remain effective and relevant. Achieve sustainability for initiatives and aim for grovrth. Our goal is to establish self-sustaining models for each pillar, supported by strong communily partnerships and ongoing investment in innovation and outreach. Looking Ahead This legacy is not merely for maintaining our existing services,. il represents an ambitious commitment to our community's long-lerTn well-being. We are dedicated lo working collaboratively with local partners to make a substantial impact and drive positive change. With this transformative support, we are better positioned than ever to fulfill our mission and make a lasting difference in the lives of those Y serve. Flnancial review a. Summary Key focus this year has been: Upgrading IT infrastructure Developing focused KPIS to track and monitor income diversification Addition of a new Direclors with strong strategic, marketing and business development skills. In 2023124 there was a surplus of £587.707 (2022123.. £852 deficit). The surplus arises from the £575.000 legacy recognised in the accounts and received post year-end. Without this, the results for the year was broadly breakeven. b. Going concem Activities delivered across general and specialist services continue to be in demand across CADAT'S operational area. Our strategy will be fundamental to our sustainability and future growth. The Board of Trustees have a reasonable expectation that resource will be available to operate for at least the next twelve months of these signed accounts. Page 6
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 c. Reserves policy At the 31 March 2024 the charity's total funds a £817,492 (2023: £229,785). Of which £242,492 (2023.. £229,785) are unrestricted. £nil (2023.. £nil) are restricted and £575,000 (2023.. £nil) expendable endowment fund. Free reserves, which are unrestricted funds, excluding designated funds, are £223,470 {2023.. £208,900). Our reserves comprise of free reserves lo meet cashflow shortfall calculated on a 1.5 month operating cost figure for 2023-24 (as below) and designated funds calculated to meet any liabilities. The reserves held are in line with the resen4es policy. Operatlng Costs: We calculate a monthly operating cost, which is reviewed on an annual basis. We monitor this to ensure the amount held covers 3 months operating costs on a rolling basis. We have a robust action plan in place to respond and mitigate should funds dip below required amount. 2023-24 3-month operating cost - £163,242. The legacy receipl is held in the expendable endowment fund, and its anticipated application is described earlier in this report. Structurei govemanco and management a. Constitution and charitable purpos• The charity is a limited company incorporated in England and Wales by guarantee on 8 May 2001 and registered with the Charity Commission on 25 October 2001. The company was established under a Memorandum of Association which set out the objecls and powers of the charitable company and is govemed by its Articles of Association. Our charitable object is to promote any charilable purpose for the public benefit by the advancement of education, the protection and preservation of health and Ihe relief of poverty, sickness and distress in particular, but without limitation, for the benefit of the communities within Diss, Thetford and District, and the surrounding area. b. Methods of appolntment or electlon of Trustees Under those Articles. the members of the Board of Trustees are elected at the AGM to serve for a period not exedIng three years but may be re-elected at the Annual General Meeting. The maximum number of Trustees is fifteen and the minimum is four. New Trustees follow an induGtion training programme, which covers their roles and responsibilities, the organisational, operational and legal structure of the charity, resources and current financial position, future plans and objectives. They will also complete mandatory training and attend training organised by Citizens Advi and will be invited to participate in other relevant courses delivered by external organisations. Page 7
DISS. THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management (continued) . Organlsatlonal structure and declslon-maklng policies The Trustee Board is responsible for setting the strategic direction of the organisation and the policy of the charity. The Trustees carry the u5timale responsibility for the conduct of Diss, Thetford & District Citizens Advice Bureau and for ensuring the charity satisfies its legal and contraclual obligations. Trustees delegate the day-to-day operation of the organisation to a Management Team, who are assisted by staff and volunteers. The Trustee Board is independent from management and discharges ils SponSIbl1111eS through its established committee structure. All committees meel at leasi quarterly, Apart from the management team committee. the others are made up of Trustees with special interest and skills and relevant staff and they are the Finance. Fundraising & Risk Committee (including remuneration, audit, risk & compliance), the People committee (including recruitment, remuneration, health, safety & wellbeing committee, and the Research & Campaigns Forum. The yrk of these groups is reported at Trustee Meetings. CADAT is expertly supported by a large number of volunteers, many who bring specialist skills and experience to the charity. The majority have been trained as generalist advisers, but some are receptionists, help with fund raising, administration, research, campaigning and IT. This contributes to our seNice delivery, professionalism and is parl of our social capital. Diss, Thefford & District Citizens Advice Bureau is a member of Citizens Advice, the national umbrella organisation, which sets a framewotk for standards of advice and casework management, as well as operational and organisational standards and conducts regular audits of the organisation against these. The organisalion cooperates and liaises with a number of olher charitable and statutory organisalions on behalf of its clients. d. Pay policy for key management personnel The Trustee Board and Senior Management determine and authorise the pay and remuneration of key management personnel and staff through benchmarking to similar organisalions and consideration of current inflation against affordability to the organisation. •. Ri8k management Our primary purpose is to support those most in need, yet we are working thin a climate where the demand for our ServIS continues to increase and there is uncertainty around the traditional funding routes we have relied to deliver outstanding free advice. Therefore, the highest importance is placed upon the structures needed to identify, analyse and evaluate the risks that may hamper our purpose. This means we are better able to accurately develop and deploy the required mitigation strategies, but also correctly approach, innovate and apply new revenue StarnS. funding opportunities and productivity transitions. We undertake continuous risk assessment, with the approach based on the current and developing key risk factors. We include risk assessment updates in our quarterly Finan, Fundraising & Risk Committee meetings. In doing so, a comprehensive review takes place involving the Senior Management Team and Trustees. Page 8
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A Company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement of Trustees. responslbllitles The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounts'ng Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these finanGial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of Ihe Charities SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent" state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in th8 financial statements., prepare the financial statements on the going concern basis unless it is inappropriale to presume that the company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose wlh reasonable accuracy at any time the financial posilion of the company and enable them to ensure that Ihe financial statements comply with Ihe Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking asOnable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. P Norman (Trustee and Treasurer) Date: 4 October 2024 Page 9
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee> INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent examinerfs report to the Trustees of Dlss, Thetford and Distrfct Cilizens Advice Bureau {'th• company.) I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2024. Respon8lbllllles and ba818 of report As the Trustees of the company (and 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 lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts 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 examinerfs statement Since the company's gross inexlme exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Acl. I confinn that l am qualified to undertake the examination because l am a member of the Inslilule of Chartered Accountants in England and Wales, which is one of the listed bodies I have completed my examination. I confirm that no matters have come to my attention in connection wilh the examination giving me cause to believe.. accounting records Yre not kept in respect of the company as required by section 386 of the 2006 Act,. or the 8ccounts do not accord with those records. or the accounts do not comply with the accounting requirements of section 396 of the 2008 Act other than any requirement Ihal the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination,. or the accounts have nol 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 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 lo enable a proper understanding of the accounts to be reached. This report is made solely to the company's Trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so thal I might slate to the company's Trustees those matters l am required to slale to them in an Independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report. Page 10
DISS, THETFORO AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Signed.. Dated: 4 October 2024 Christopher Yeates FCA DChA Larklng Gowen LLP Chartered Accountants Diss Page11
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Expendable endowment funds 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note Income and endowments from: Donations and legacies Charitable activitie5 Investments Other income 8,782 251.657 3.957 136 575,000 583.782 650,219 3,957 136 11,219 . 674,012 309 9,807 398,$62 Total income and endowments 264,532 398,562 575,000 1,238,094 695,347 Expendlture on: Charitable activities 251,825 398,562 650,387 696, 199 Total expenditure 251,825 398,562 650,387 696, 199 Net movement In funds 12,707 576,000 587,707 (852) Reconciliation of fund8: Total funds brought forward Net movement in funds 229,785 12,707 229,785 587,707 230, 637 (852) 675.000 Total funds carried forward 242,492 576,000 817,492 229, T85 The Statement of financial aclivities includes all gains and losses recognised in the year. The notes on pages 15 to 29 form part of these financial statements. Page 12
DISS, THETFORO AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) REGISTERED NUMBER: 04212031 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets 10 476 955 476 955 Current a88et8 Debtors 617,757 327,588 117.742 222,869 Cash at bank and in hand 945,345 340,611 Creditors.. amounts falling due within one year 12 (128.329) (111, 781) Net eurrent a880ts 817,016 228, 830 Total assets less current liabilities 817,492 229, 785 Total net 088e18 817,492 229, 785 Charfty funds Expendable endowment funds Restricted funds Unrestricted funds 13 13 13 575,000 242,492 229, 785 Total funds 817,492 229, 785 The company was entitled to exemption from audit under section 477 of the Companies Acl 2006. The members have not required the company to oblain an audit for the year in question in accordance with section 476 of Companie5 Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. P Nomian (Trustee and Treasurer) Date.. 4 October 2024 Page 13
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limlted by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operating actlvltle8 Net cash used in operating activities 100,762 (10, 131) Cash flows from investlng activitles Dividends, interests and rents from invesiments Purchase of tangible fixed assels 3.957 309 (1. 434) Net cash provlded byl(used In) Investlng actlvltlos 3,957 {1,125) Cash flow8 from financing activities Net cash provlded by financlng actlvltles Change In ¢a8h and cash equlvalont8 In the year Cash and cash equNalents at the beginning of the year 104,719 111,256) 234, 125 222.869 Cash and cash equivalents at the end of the year 327,588 222, 869 The notes on pages 15 to 29 form part of these financial slatements Page 14
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General infomiation The company is a company limited by guarantee, incorporated in England and Wales. Members of the charitable company guarantee to contribule an amount not exceeding £10 to the assets of the charitable company in the event of winding up. Accounting policies 2.1 Bas18 of preparatlon of flnanclal statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities.. Stalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102> (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. Oiss, Thetford and District Citizens Advice Bureau meets the definition of a public benefit entity under FRS 102, Assets and liabilities are initially recognised at historical cost or transaction value unless othe1$e stated in the relevant accounting policy. 2.2 Going concern The Trustees have considered the charity's position at the time of signing the financial statements, including the financial resources of the charity, secured funding and the funding landscape. Further details are included in the trustees, report. Based on this, the Truslees have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, and at least e1ve months from the date of signing these financial statements, they therefore continue to adopt Ihe going concern basis of accounting in preparing these financial slatemenls. 2.3 Income All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income re1vable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate wilh sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists wthen the company has sufficient evidence that a gift has been left to them {through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisf led Ihat Ihe property in question v4ill not be required to satisfy claims in the estate. Receipt of a legacy mu51 be reco9nised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured. Income tax recoverable in relation to investment income is recognised al the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. Page15
DISS. THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued 2.4 Expenditure Expendilure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable Ihat a Iransfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expendilure is classified by activity. The costs of each activity are made up of the total of direct 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 to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff cosls are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which f urther the company's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Tangible fixed assets and depreciation Tangible fixed assets costing £500 or more are capitalised and recognised when future eLL)nomic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated usef ul lives. using the straight-line method. Depreciation is provided on the following bases.. Long-term leasehold propety Fixtures and fittings Computer equipment 1 OQ/• Straight line 200A straight line 330/0 Straight line 2.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Page 16
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-lenn highly liquid investments viith a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.9 Liabilitios and provisions Liabilities are recognised vthen there is an obligation at the Balan sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amounl thal the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted at the pre-tax discount r8te that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 2.10 Financial instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.11 Operatlng leases Rentals paid under operaling leases are charged to the Statement of financial activities on a straight line basis over the lease term. 2.12 Pensions The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respecl of the year. Page 17
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU IA company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies (continued) 2.13 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Twstees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are lo b8 used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes lo the financial statements. Expendable endowment funds represent a legacy vthich fomis part of the capital fund of the Charity. The fund is expendable endowment insofar as the Trustees have discretion to expend the fund in furtherance of the Charity's objecls. Investmenl income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Expendable Unrestricted endowment funds funds 2024 2024 Total funds 2024 Donations Legacies 8,782 8,782 675,000 575,000 8,782 575,000 583,782 unstricted funds 2023 Total funds 2023 Donations 11,219 11,219 Page 18
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from charltable actlvities Unre8tricted Restricted funds funds 2024 2024 Total funds 2024 District and County Councils Bigc Pension Wise BigL HTC (Help Through Crisis) Project Shelf Hardship ESF Chances Energy Other 100,610 44,275 100,610 44,275 206,665 25,401 21,042 43.500 $4,403 32,551 121,772 206,665 25,401 21,042 43,500 54,403 32,551 15,000 106,772 Total 2024 251,657 398,562 650,219 Unrestricted funds 2023 Restricted funds 2023 Total lunds 2023 District and County Councils Bigc Pension Wise BigL HTC (Help Through Crisis) Hardship ESF Chances Energy Other 68,867 48,100 68,867 48,100 206, 665 24,024 72,715 62,101 118,394 73, 146 206,665 24,024 72,715 62, 101 118,394 11,485 61.661 Total 2023 178,628 .495,384 674,012 Page 19
DISS. THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment income Unrestricted fund8 2024 Total funds 2024 Total lunds 2023 Bank interest 3,957 3,957 309 Total 2023 309 309 Analysis of expenditure by activities Activities undertaken directly 2024 Total funds 2024 Tot81 funds 2023 General Advisory Senlices 650,387 6SO,387 696. 199 Analysis of dlrect costs Total funds 2024 Total funds 2023 Staff costs Depreciation Volunteer and staff expenses Office costs Premises costs Other costs Govemance costs 516.349 479 18.641 52,450 18.559 24,973 18,936 528,437 479 18,562 48,326 35,228 46.473 18,694 650,387 696, 199 Page 20
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Independent examinerfs remuneration 2024 2023 Fees payable to the company's independent examiner for the independent examination of the company's annual accounts 3,000 3,000 Staff c08ts 2024 2023 Wages and salaries Social sécurity Costs Contribution to defined contribution pension schemes 473,403 31,345 11,601 486, 246 31,707 10,484 516,349 528,437 The average number of persons employed by the company during the year was as follows.. 2024 No. 2023 No. 24 27 The average headcounl expressed as full-time equivalents was: 2024 No. 2023 No. 14 17 No employee received remuneration amounting to more than £60.000 in either year. The total remuneration of key management personnel in the year, including employers pension and national insurance. amounted to £87,564 (2023 - £70,385). Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024. no Trustee expenses have been incurred (2023 - £NIL). Page 21
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Tangible fixed assets Long-temi leasehold Flxture8 and property fittings Total Cost or valuation At 1 April 2023 162,129 28,173 190,302 At 31 March 2024 162,129 28,173 190,302 Depreclatlon At 1 April 2023 Charge for the year 162,129 27,218 479 189,347 479 At 31 March 2024 162,129 27,697 189,826 Not book value At 31 March 2024 476 476 At 31 March 2023 955 955 11. Debto 2024 2023 Due wlthln ono year Trade debtors Prepayments and accrued income Legacy receivable 40,950 1,807 575,000 117.742 617,757 117.742 Page 22
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Credltor8: Amounts falling due within one year 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 6,097 8,417 1,971 111,844 16,974 3,959 2, 622 88,226 128,329 111,781 2024 2023 Deferred income at 1 April 2023 Resources deferred during the year Amounts released from previous periods 27,899 36,476 127,899) 27,899 Deferred incomo at 31 March 2024 36,476 27,899 Page 23
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Statement of funds Statement of funds - Cunt year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expendituro Unrestricted fund8 Designated funds Unrestricted Fixed Assels Equipment Fund Redundancy Lease obligalions 956 10,000 5,500 4.430 (479) 476 10,000 5,500 3,046 (2,862) 1,478 20,885 (3,341) 1,478 19,022 General funds General Fund 208,900 264,532 (248,484) (1,478) 223,470 Total Unrestricted funds 229,785 264,532 1251,825) 242,492 Expendable endowment funds Legacies 575,000 575,000 R08trlcted funds BigL (Help Through Crisis) Pension Wise Project Shelf Energy ESF Chances Hardship Fund Other 25,401 206,665 21,042 32,551 54,403 43,500 15,000 (25,401) {206,665) (21,042) (32,551) (54,403) (43,500) (15.000) 398,562 (398,562) Total of funds 229,785 1,238,094 (650,387) 817,492 Page 24
DISS. THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Statement of funds (continued) Statement of fund8 - prlor year Balance at 31 Mah 2023 Balance a¢ 1 Apn"12022 Transfers in/out Incom8 Expenditu Unrestricted funds Designated funds Unrestricted Fixed Assets Equipment Fund Redundancy Lease obligations (479) 1,434 955 10,000 5, 500 4,430 10,000 5,500 277 (1, 108) 5,261 15,777 (1,587) 6,695 20,885 General funds General Fund 178, 633 199,963 (163,001) (6,695) 208,900 Restrfcted funds BigL {Help Through Crisis) Pension Wise Help To Claim Energy MaPS Debt ESF Chances Smart Meter G8 Fuel Vouchers Hardship Fund Household support Other 244 24,024 206, 665 (24, 268) (219,721) (3, 081) (119,797) (1, 183) (62, 101) (18) (78) (83, 379) (6, 500) (11,485) 13,056 3,081 1,403 1. 183 118,394 62,101 18 78 10,664 6. 500 72, 715 11,485 36,227 495,384 (531,611) Page 25
DISS. THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Statement ol funds Icontlnued) Designated Funds: Unrestricted Fixed Assets-. This fund represents the unrestricted fixed assets as these amounts are not readily available to spend on the charitable objects of the organisation. This is as recommended by the Charity Commission to be held in the event of closure to meet all our financial commitments. Equipment Fund: A designated fund of £10,000 has been sel up to ensure that there is sufficient money to replace equipment vthen it becomes obsolete or beyond economic repair. Redundancy Fund.. This represents fur)ds to cover potential redundancy costs. Lease obligations: This represents funds set aside to fund the remainder of operating leases. Restricted funds: BigL (Help Through Crisis). Tailored support to people in immediate crisis, through planning to improve their future situation and through working with partner agencies. Pension Wise.. The organisalion was appointed as a delivery centre for Norfolk and Suffolk for the Government's Pension Wise guidance seNice. Project shelf.. Funding awarded by Nourishing Norfolk Fund to develop the Shelf- the Diss Community Food Hub. Energy.. Funding awarded to deliver energy advice on a range of topics, from saving money on bills to smart meters. ESF Chances.. Supports people back into work by helping them overcome any challenges they are facing. Help To Claim.. The Help To Claim Pilot supports people to submit Universal Credit claims either online or by phone, and helps people to prepare for receiving a single monthly payment. Hardship Fund.. The delivery of hardship information. advice and 5UPPOrt with an overall objective to reduce hardship for Norfolk residenls, including FCA accredited help lo reduce debt. MaPS Debt: The service provides free debl advice to people in the local area surrounding Diss and Thefford. Smart meler (Funded by Smart meter in Communities fund).. Raise awareness and provide informalion about smart meters to low income groups through publicity, one-to-one advice and attending events. Fuel Voucher.. Funding awarded by Energy Redress to provide emergency prepayment meter fuel vouchers to eligible clients in Norfolk and Suffolk in fuel povety and at risk of disconnection from their domestic energy supply. Household Support.. The Household Support Funds is provided by Norfolk Community Foundation to provide support in the form of Supermarket Vouchers. These were distributed lo over 250 separate Page 26
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Statement of fund8 (continued) households beeen November 2021 to April 2022. Expendable endowment funds This represent a legacy which forms part of the capital fund of the Charity. The fund is expendable endowment insofar as the Truslees have discretion to expend the fund in furtherance of the Charity's objects. 14. Analys18 of net assets between fund8 Analysis of net assets between funds - current period Expendable Unre8trlctod endowmenl funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 476 370,345 (128,329) 476 945,345 (128,3291 575,000 Total 242,492 575,000 817,492 Analy8is of net a880ts between funds - prlor period Unr8Stricfed funds 2023 Restricted funds 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 955 325,611 (96. 781) 955 15,000 340,611 (15,000) (111. 781) Total 229, 785 229, 785 Page 27
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Reconciliation of net movement In funds to net cash flow Irom operating activities 2024 2023 Net incomelexpenditure for the period (as per Stalement of Financial Activities) 587,707 (852) Adjustments for.. Depreciation charges Investrnent income Increase in debtors Increase in creditors 479 (3,957) (600,015) 16,548 479 (309) (28,514) 19,065 Net Cash provided byl(used In) operating activities 100,762 (10. 131) 16. Analysis of cash and cash equivalents 2024 2023 Cash in hand 327,588 222,869 Total cash and cash equlvalents 327,588 222, 869 17. Analys18 of changes In net débt At 1 April 2023 Cash flows At 31 March 2024 Cash at bank and in hand 222,869 104,719 327,588 222,869 104,719 327,588 18. Pension commitments The charity operatès a defined contribution pension scheme. The assets of thè scheme are held separately from those of the charity in an independently adminislered fund. The pension cost charge represents conlributions payable by the charity to the fund and amounted lo £11,601 (2023 £10.484). Contributions lotalling £1,971 12023 - £2,583) were payable to the fund at the balance sheet date and are included in creditors. Page 28
DISS, THETFORD AND DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. Operating lease commitments At 31 March 2024 the company had commitments to make future minimum lease payments under non- cancellable operating leases as follows.. 2024 2023 Not later Ihan 1 year Later than 1 year and not later than 5 years 1,015 2,031 1,108 3,323 3,046 4,431 20. Related party transactions There are no related party transaclions in the year requiring disclosure. Page 29