REGISTERED COMPANY NUPIIBER." 4291764 REGISTERED CHARITY NUMBER: 1089294 orar opeth citizens advice Caerdydd a Bro Morgannwg Cardiff & Vale CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 MHA Chartered Accountants and Stalutory Audrtor EKed House Oak Tree Court Cardrft Gate Business Park CARDIFF CF23 8RS CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Contents Trust Information 1.1 Constitution 1.2 Addresses 1.3 Board of Trustees 1.4 Induction of Trustees 1.5 Conflict of Interest 1.6 Organisational Structure 1.7 Senior Staff 1.8 Statutory Requirements 1.9 Statement of Control Aims and Objectives Public Benefit Trustees, Annual Report 3.1 Introduction 3.2 Service Provbjed 3.3 Volunteers 3.4 Future Funding & Service Delivery 3.5 CASEW 3.6 Employment Success Finan¢lal Review 4.1 Risk Assessment 4.2 Reserves Policy 4.3 Investment Policy Financial Review of the Year: Independent Auditi)rs' report Statement of financial activities Balance sheet Statement of cash flows Notes to the fina￿tal slatements 11-13 14 15 16 18-30 CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD The trustees present their report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accOrdar￿e with the acry￿￿ting poI￿leS set out in note 1 to the financial stalemenls and comply with the charitys Memorandum and Artides of Assochation, the Companies Ad 2006 and "Accounting and Reporting by Charities: Statement of Recommended Praclice applicable to charities preparing their accounts in accordants with the Financkil Reporting Standaid applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". Trust inforn)ation Constitution Cardiff and Vale Citizens Advtce Bureau Ltd (now known as "Citiiens Advi￿ Cardiff and Vale") is a charitable company limited by guarantee. It was incorporated under the Companies Act 1985 on the 21 September 2001 (registration number 42917641 and registered as a Charrty on Ihe 12 November 2001 (Charity ￿l$tratIOn number 10892941. The organisation is regltlated by its Memorandum and Ariides of AssocIat￿n that were ameTrJed by minutes of Special Resolution on the 14 February 2003 and further amended by minutes of Swid Resolution on 13 March 21x17. An additional Speaal Resolution was granted at a meeting on 30 March 2016 to exlend the area of benefit of the Servi￿ provided and an additional one to extend the area of benefit fijrther on 7 January 2021. 1.2 Addressgs The following are the addresses of the Principal Office of Charity and its Bankers, Legal Adwsers and Auditors: Principal Office.. Cibzens Advice Cardrft and Vale of Glamorgan 119 Broad Street BARRY CF62 Trz Bankers: Unity Trust Bank plc Nine Brindley Place Bimingham B12HB Legal Advisers.. Paul Archer- HR Adviser 21 Cox Stalls Woolon Bassett Swindon SN4 7AW Statutory Auditors & Chartered Accountants.. MHA Elfed House Oak Tree Court Cardrff Gate Business Park Cardrff CF23 8RS Page 1 CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Board of Truste•s The directors of the tharitable company (the tharity) a￿ ils trustees for the purpose of charity law and throughout thi5 report are C￿leCtive[Y referred to as the trustees. The trustees and directors acting during thi5 financial year. Trustee Member organisation lif appropriate) Position Chris Graham TtusteelDirector Roy Edwards TrusteelDirector (Resigned 30.11.23) Peter Trott ChairrfrusteelDirector Denise Goode V￿e chair￿rusteelDIreCtof Louisa Scadden TrUstee￿ireCtor Michael Trickey TrusteeA)irector Helen Morgan TreasU￿rIf￿SteelDireCt0r Cathryn Mayo TrusteelDirector Olivia Manley TrusteelDirector Philip Champness TnJsteelDirector Jane Clay Company Secretsry Page 2 CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Recruitin and Trdinin Trustees Citizens Advice Cardtff and the Vde is commttted to rts aim of ensuring that the Board of Trustees contains a broad range of skills, knowledge and experience. This indudes trustees frcrfn parts of the community whith have tradilK)nally not played a large part in charities, such as young people, people from minority and elhnt communities and people with disabilities. Creating a dnierse board will also help to create accounlabilty and public confidence. We recognise that all trustees are volunleers and as such are not subject to the confines of Employment Law but are disqualified by law under sections 178 10 180 of the Charities Act 2011. 11 is important that all trustees understaThJ and are committed to the two main aims of Citizens Ad¥￿e. To provide the advice peO￿e need for Ihe problems they face To improve the polioes and practrces that affed pe*'s Irves The responsibility ￿r the recwitment of ne•V trustees will resl with the existing trustees who must oversee the management of an open and efficient process a￿1 always act in the best interests of Crtiiens Advice There are a variety of methods available to the board to reuuit new trustees, the tradrtional method of pers¢)nal recommendation and word of mouth remains p)pular aliemative melhods are ublised when required. These indude.. a. Advertising in local newspapers and sc¢iety member magazines b. The National Counal for Voluntary Organisations (NCVO) operates Trustee Bank which alh)ws us to advertise and view trustee vacanoes ¢. Small Charities Coalition ntns Trustee Firnler a free national neiwork of trustees d. Contacting local branches of professional bodies e.g. law. accountancy, marketing or HR Contacting HR departments in Cardiff Council and the Vale of Glarnorgan Council and other large busi￿SseS in the area Selection P All applicants are asked to complete a Ynjslee Expressk)n of Interest Fom. which is forwarded to the Chair of Trustees Chair will arrange an "informal chat. ￿1th applKant to discuss the General Job Profile and the tHin main aims of Citizens Advice If an applicant is considered suitable by the Chair, then they WFII be inviled to the next board meeting as an observer to establish la) rf we are suitable for them and {b} rf they are suilable for the organrsalion 4. Arrange formal interview with 2 trustees with a fomial scorin9 matrix Successful applicants are advised of the >month probation period (for l)oth parttes) and the dates ol Ihe firture meeting 6. The successful applicants will become co-opted members oftF* board until the next AGM when they wll be offiually appointed. Trainin Trustees undertake an induction prc4Jramme lo familiarise themselves with the stru¢lure, key staff and frontline services. New twstees complete a skills audit which is reviewed on an annual basis. Skill and knowledge gaps are identified and appropriate action is taken lo address the individual's trdining needs. It is recognised at this stage that certain specific skFlls and knowledge are in greater demand than in supply and a decision belween the importance of diversity and the acquisiti¢Jn of the thlls and knthvledge will be laken. Retenti It is recognised that all trustees have a legal temi of office. bul can be re-appointed if they thoose lo do so. 11 is also recognised that a trustee may wish lo leave their fole.. as volunteers there is no legal obligation to give a period of r￿tice. We expect that a peTTrod of at least one month's notu be grven and that the trustee leaving assists in the identificalpJn and ￿¢[urtment of a repla￿Ment. Page 3 CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Induction of Trustees As charity Irustees. Mernbe￿ of the Twstee Board cary ultimate resportsibility for the management of the organisation's assets. inctuding volunteers and staff. Trustees are also volunteers themselves and the indudion needs to give them a dear picture of the aims and work of the organisation and expe￿tIOnS of their role in a¢h*ving those aims. 11 is recognised that trustees wll have varied levels of knO￿edge of the roles and responsibilities of a charity trustee, the work of a Local Cttizens Advi￿, the advi￿ needs of the local area and link5 wilh other extemal organisations. 11 Is also ￿cOgniSed that trustees will bring their own knoWge and experFence lo the Trustee Board. This provides the (Kganisats"on with perspectwes and contacts wtth dÈfferent groups and communities and widens the potential range of skills available. The induction process arms to". infomi the new trustee about the roles and restK)nsibilities a trustee board member is expected to carry out infomi the new tnjstee about the current work of the organisation. the business and development plans. financial and staffing resources. qualty and service requirements identify the knowledge. skills and experience that the trustee brings to the Trustee Board identify any further needs for information and p055ible sources of fijrther support An induction checklist is mainLqined for all trustees as a way of recording that all activities have been undertaken Conflict of Interest The Trustee Board is mindful of the tM)ssibility of confiicts of interest. The Board has pro￿dureS to ensure Ihal no su¢h confiicts exi51. We also confimi that outside of the funding shown in note 2 of these accounts. and the provision of salary administration. there have been no retaled party transactions Ihroughoul the year. Organisational Structure Audit and Risk sub is an additional source of income and will vary. All our staff have been involved in research and campaigning and in Ihis year our team continued lo prog￿$5 local campaÉgns and raise our profile. Regular meetings are hekl. quarterty newsletters circu￿ted and written ￿pOrtS were made to the Twstee Board. The advice given in Cardlff and the Vale of Glamorgan during the 2023r24 peri¢)d was to: 36.521 dients 133,306 different issues These )Igures do not indude all of the dients we have helped auoss EnglaThJ and Wales via sorre of the call ¢enter services. In 2023124 we handled 87,170 Consumer calls from clients calling in across England and Wale8 3.3 Volunteers We retain a smaN group of volunteers. They provide advice via email, telephone and to face aFpointments. monetary value of volunteers has been caEulated as £47.Cw)O for the year 2023r24. The 3.4 Future Funding & Service Delivery 2024125 We will enter year 3 of our grant agreement {01104r22- 31n3r25) with the Vale of GLamorgan Cour￿￿1. We will again receive an extra amount of £33.IXIO to spectfically address the cost of living uisis. Our 5 year contrad with Cardtff coul￿11 ended on 31 March 2022 but was extended for a fvrther years as per the option in the contra¢l. They have ￿t yel commenced rec￿mISSiOn￿n9 and so have extended our contract to the end of Ihe year. The Welsh Government funded Adv￿lInk Cymw (SAF> projects are now being rolled over to 31 March 2025 and will be c(Mnmissioned in 2024. Our Pension Wse. MND, Consumer Se￿￿e grants will conttnue in 2IJ2412025. The Mcrf)ndar￿e Foundation for all Wales delNery of advice in respect of energy will continue as will MNO and Roakl Dahl funding. During the year we have i￿￿ased our face to face advice provision. specrfi¢21ty targeting Ihe dient groups that would not be able to access our advic£ through telephone or digital thannels. We have opened wlreaches in l¢)cations that improve accessit￿lity for these client groups. including pubs. schools, heathcare settings and foodbanks. We worked with Cardiff University Business School on a research project into the impact the community engagement oulreaeh model has on indNidual's ability to access Serv￿ at the most appropriate time. The organisation is cornmitted to seeking fvrther fijnding to in¢yease servtce delivery and is continuing the work on developing several social enterprise projecls. induding marketing of Iraining ￿￿TSeS and developing an online training seTvice. We have already secured contracts to deliver training in 2024r2025 to various organisations and these will be delivered via webinars fate lo face. Pa9e 8 CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD CASEW As a group ol LCAS across SE Wales (Cardiff 8 Vale. cae￿h￿ty Blaenau Gwent. Monmothhshire, RCT. Bridgend, Newport & Merthyr Tydfil) we continue lo progress our consoityum LCA Citizens AdvTr￿ South East Wales (CASEW), which became a company limited by guarantee and registered charity. We believe the formation of CASEW will allow us lo have greater influence funders and politicians in Wales and enable us to have an increased chance of securing large funding pols to deliver new ServI￿S for the beneffts of ￿s￿lents of SE Wales. In January 2023, CASEW hosted ils first stakeholder event. which focussed on the impad of the cost of Irving uisis cm hwsehol(ts across SE Wales. The event was well attended and the Cost of LNing Crisis Impact Report was circulated to a WKler nehyork. 3.6 Employment Success Job creation Number of new posts creat8d in 2023124.. 5 Flnancial Review of the Y9ar The statement of financial activities (SOFA) on page 14 together with the relevant rntes (pages 18 to 301 show the wo that the charity has undertaken in the past year and how these activitses a￿ financed. Incoming resources, detailing the type and source of income recewed together wfh the funds brought forward. constitute the resources available. The resources expended section details how the incoming resources were spent on charitable actiwlies. The SOFA also shows the division of reSoUr￿S belween ￿Stricted and unrestricted resources. Restricted resources are funds received ty the charity that can only be spent in the provision of a speafic service. These types of ftjnds typically stipulate how the money is lo be spent. and will have clawbath dau5es for unspent money. In these ¢irrJJmslances. the charity is simply acting as an agent on behalf of the funder. Full delails of the restricted projects being undertaken by the charity can be seen in note 18 of these a(xounts. Unrestricted funds are those lunds provided to the chanty that the management and trustees can spend as they wish. within the requirements of the objeclrves of the eharrty. Often these resources will have been paid by the fijnder with the agreement that the tharity provide a Ser¥￿e with decision as to how to allocate funds being left to the discretion of the management and trustees of the charity. The Balance Sheet {page 19) Shows Ihe reseprfes of the charity as at the dose of business M 31 March 2024 and 31 March 2023. This value is brd(en down into tts cr*nstituenl parts, the highest of which is cash at bank and in hand. The chanly has seen an increase in the levet of incoming resources from £4,886.0￿ generated last year to £5,087.352 generated this year. This is due largety to an inuease in grants and eonlracts successfully bid for by the charity. The full details of this can be seen in note 5 of these accounts on page 20. The resources expended reflect the addits'on￿ work being undertaken because of the increase in income with money spent on charitable a(*vilies increasing from £4,868.895 last year to £4,907.419 this year. The fvll details of how the charity resources have been expended are shown in notes 6- 10 on pages 3>34. Notes 8 - 10 of the accounts shows the costs incurred by the activitFes undertaken duriTMJ the year. Costs inojrred during the year are presented as direct costs and supFort (xssls. Direct costs are those In￿jrred when delivering advrce serVi￿S lo dients. These c¢)mprise mainty of staff salaries as well as other stsff related costs such as travel. They also Ir￿lude disbursements paid to delivery partners that in 2023r24 were Citizens Advi￿ Ynys Mon, Speakeasy Law Centre, Bamardo's. Care & Repair Cardiff and Race Council Cymru. The total direct costs incurred during the year were £4,016.779 (LY.. £4.382.755). Support cosls are operatK)nal costs and indude the provision of office space and relevant equipment as well as management costs. The total support costs incurred during the year were £890.640 ILY.. £486.140). Page g CARDIFF AND VALE ¢mzENS AOVICE BUREAU LTD The ¢harlty has 98￿rdted a surpkss of £179,933 ILY: 17.155) whith fs coffyrtsed of bolh reslrfcted (£14,630 defidtl aTr unrestrided 1£194.563 sulp￿s} lunds. The ch¥lty has IT￿ased tts ￿reStrICt￿ roserves fvnd from £1.074.268 to £1.527,542 8$ of 31 March 2024. The total wr¥es of £1.580,165 (LY.. £1.400.232) a￿ brolwi down knto Ihetr (x)nstiluenl parts in the bolan￿ sheel on pagg 15. As at 31 March 2024 ttle thartty had £1,379.645 ILY: £1.101.169) czsh In the bank from wh￿h Itwas commlited to pay £87,696 (LY: £82.148) to credltor5 within tsvefve n￿nIh5. The breakdown of the credilors figure Is shown n notss 12. 13 and 14. The tharfty was iyRd £24,478 (LY: £96275) at the year4nd whkh Is a final Instalmenl of Inciffie payable by PToJe(a funder5. The Charity has exp8ritinced grovrth ovw tho past fve >pars *ith seThlces provld8d Th)t (ffily for the Vejo and Cardlff areas but afso aLYOSS England ar￿ Wales. The tnjslees are very aware ￿ the *liknal ¢OmrA1￿tIOn5 th1& gro has brought th terms of fLnancial managem8nL trustee5 are Conf￿9￿t that sufficient system8 and C￿ntr￿S are In pkgoe to help the ch￿ty manage these add￿10nd1 Tesponslbrfities. The ffnarKial health of the tharity remains gc*>J aTrJ fho trjstees remaln commltted to ￿ntITr￿ng to pn)vide easy access lo advlee for Ihe at a thne wlwn Nfo is b80)mErNJ mNe C￿np[katOd. The tnJstg9s would like to thank aN ￿n(JerS for thelr supwt the last iwel¥e months. Thls support18 especlalty vatugtl& in Ihe ￿rrent eL¥)nornic cffimate where ￿ sarylces are in gver Increaru demar￿. 4.1 Risk Assessment The tharfty has undertakon 8 rev18w of th8 fifmncxal Tisks It mkJht facè. Tho r8suIt8 of this re￿ Indkate that allhough Iho artty Is unlFkely to la￿ a sudden and major loss ol fundlry. there remakns a risk of one of th9 major fiJnders' wllhdrnwlng funding. The thayity bdieves fhat th¢ r8seFve pcAlcy neets è) refieLrt the18vel of rgscwT¢es required to gtve the organLsation flme to either ronegofsato funding. 88ek new fvndirvJ or to withdraw serv￿$ Hl a timely rn￿￿er, cauthg as ￿lue damag0 as po551i￿o. In vlewof the fthonges In the tharlty the trustees review this on an annual bas1& 2 Rgserves Policy Fdlcwing the swjrk undertalr*n In Ihe risk &swsmenL thg organi581kn'$ desknpted resoNes pofry Is kn hold thre8 monlhs. uwestdctsd Operat(￿ 8xpenses and one ffv)nlh's ￿thiC￿d (Wath￿ exp￿￿S. On thb bas1¥, the c*8rlty 15 required to hotd deslgnaled reserves of£423.627. Total unrestrtcted ￿Se￿es, tnduding Ihe designated reseryes. cutreftlly sland 81 £1.527.$42 of wl¥c* £450,622 k4 Invè$l$d In ILxed 8s88ts. Close Th￿nitOrIng a￿1 a serylce reviewwll be undertaken to eAtsure that athili8s do not dep￿te this level of rnseNes. 4.3 Imrystment Pollcy char￿Y h¢th a ￿rreTrt account that not provlde an knterest ralg. Foltowing appn)v81 from Ihe Tntstee Board. the or98nisation In 2023 OFened an dccount th8 Chartlies Akl Four¥JallM (CAF) Ch8ribas Deposit Platfonn. The plaffomi glves the organLsaUon acce5S to more than 170 Interost.bewing deposit &courts. 5 Independent Audltors. report and F￿¥￿¢111 Stat•monts The foLbJwlng are the IndeFerKtent Audltots. re[￿ and hnaTrial ststements I￿luth￿g Slatement of Financlal Advlues and Balance Sheet knthe organisation 35 at 31 March 2024. This rsFQrtWOS 8pprov&J by the Bo*d ofTrustses on the 28 Novemter2024 and $yd ￿ its bfy￿ff by: Jane Cla - Cl¥d E¥eGutive & COMP￿ Secrntary Page 10 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARDIFF AND VALE CITIZENS ADVSCE BUREAU LTD Opinion We have audited the financial stslemenls of Cardiff and Vale Citrlens Adwce Bureau Lld (the 'charitable company.) f the year ended 31 Marth 2024 which comprise the Slalement of Finanaal A¢tivib"es, the Balance Sheet, the Cash Flow Statement and notes lo the financial statements. induding a summary of significant aco)unting p(Aiues. The financiai reporting frarnework that has been applied in their preparation is applicable law and United Kingdom Accountsng Standaids (United Kingdom Geneially Accepted Accounting Practice). In our opinion the financFal slatemenls.. give a true and fail view of the stale of the tharitable CoMpan￿S affairs as at 31 March 2024 and of its incomin9 resources and application of resources. induding its income and expenditure, for the year then ended.. have been properly prepared in accordance with United Kingdorn Generally AC￿pted Accounting practi￿., and have been prepared in accordance with the requirements of the Companies Act 20c￿. Basls for oplnlon We cor7ducled our audrf( in accordan￿ with Inlemattonal Standards on Audtting {UK) {ISAs (UK)) and appIl￿ble law. Our responsibilities under those slandafds are further described in the Auditors, responsibilities for the audit of the financial slalements section of our report. We are independent of the charitabte company in accordance with the ethical requirements that are relevant lo our audit of the finanoal slalements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance wilh these requirements. We b8lieve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our oiinh)n. Con¢luslons relating to going concem In auditing the finanaal slalements. we have conduded that the trustees, use of the going concem basis of accoLtnling in the preparation of the finar￿la1 stalernents is appropriate. Based on the WO￿ we have F*rformed. we have not identthed any material un￿rtainlieS ￿latIng to events or conditions that. individually or ¢olleclrvely, may Cast signrficant doubl on charitable company's ability to continue as a going concern for a period of at least Iwelve rnonths from when fina￿la1 statements are authorised for issue. Our responsibilities and the responsibilities of the tnjstees with respect to going concem are described in the relevant seclions of this report. Other Informa￿0￿ The trustees are responsible for the other information. The other infO￿atiOn o)mprises the information induded in the Annual Report, other than the financaal statements and our Report ofthe Independent Auditors thereon. Our opinion on the finan¢ial slalements does not cover the other information and. except to the extent Othe￿Ise explicitly staled in our repor( we do not express any fonn of assurance conclusion thereon. In connection with our audit of the finartkil statements. (Mjr resp)nsibility is tr) read the other information and, in doing so. consider whether the other informatFon is materially inconsistent with the financial statements or our knowledge oblained in the audit or otherwise appears to be materially misstated. If we identsfy such material inconsistencres or apparent material misstatements. we are required to detemiine whether this gNes rise to a material misstalemenl in the financial statemenls themselves. If. based on the work we have performed. we condude that there is a material misslalemenl of this other information, we are required to report that facL We have nothing to report in th￿ regard. Opinion$ on other matters prescribed by the Companies Act 2006 In our opinion, based on the V￿rk undertaken in the course of the aud￿. the information given in the Report of the Trustees for the finaniial year for which Ihe finanaal st*ements are prepared is consistenl with Ihe financial slalements; armj the Report of the Trustees has been prepared in accordance wilh applieable legal requiren*nts. Mattels on which we are requlred to Teport by exception In the light of the knowledge and understanding of the charitable company and its erN￿onment obtained in the course of the audit. we have not identified material misstatements in the ReF*Yt of the Trustees. We have nothing to ￿port in respect of followiryj matters where the Companies Act 20(￿ reqUI￿S us lo report lo you in our opinion.. adeqvale accounting records have rK>t been kept or retums adequate for our a￿111 have Th)t been received from branches not vistted by us., or the financial slalements are not in agreement with the accounting records and retums; or certain disclosures of trustees, remuneration specffied by law are not made" or we have not received all ihe infomalion and explanation5 we require frjr our audit- or the Iruslees were not entiued lo lake advantage of the small compantes exemptton from the requirement to prepare a Strategic Report or in preparFng the Report of the Trustees. Page 11 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARDIFF AND VALE CrnZENS ADVICE BUREAU LTD Responsibilities of tNstee8 As explained more lully in the Statement of Trustees, Responsibilities. Ihe trvstees (who aTe also the directors of the charitable company for the purposes of company law) are responsib￿ for the preparakn'on of the ffinancial statements and for being satisfied that they gNe 8 true and fair view. and for such inlemal control as the trustees detemiine is nvessary to enable the preParat￿n of financial statements that are free from material misstatement. whether due lo fraud or error. In preparing the financial statements, the trustees are ￿Sponsible for assessing the tharitable company's ability to continue as a 90ing concern. disclosing, as applicable, matters related to going concem and using the goin9 concern basis of accounting unless the trustees either intend lo Itquidate the charitable company or to cease operations, or have no realistic allernalive but to do $0. Our responsibllities for the audit of the financial statsments Our objectives are to obtain reasOnal￿e assurance about whether the financial slalemenls as a whole are free from material misstalement. whether due to fraud or error. and lo issue a Report of the Independent Auditors that indudes our opinion. Reasonable assurance is a high level of assuran￿. but 15 not a guarantee that an audit conducted in accordance wrth ISAS (UK) wll aKvays detect a material misstatement when r( exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to inliuene the ec£*nomic decisions of users taken on the basis of these financial ststements. I￿egUlaritIes, induding fra￿￿. are instances of non-compliance *ith laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misslalements in respect of irregularities, induding fraud. The Spe¢rf￿ prO￿dureS for this engagement and the extent lo which these are capable ot detecting lffegularit￿S, induding fraud is detailed below.. evaluated managemenfs incentives and opportunrl￿s for fraudulent manipulation of the financiai statements (including the risk of oveTride of controls) and detemined that the principal risks were related lo posting inaccurate journals. We addressed Ihese risks by (arrying (xrt specifically targeted procedures. which induded: Enquiries of management, those charged with govemance around actual and polentsl litigatK*n and datrns,. Performing audit work over the risk of management override of controls. induding testing of joumal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business.. Reviewing minutes of meetings of those charged with govemance" Evaluating the reasons for any large or unusual transactions.. Reviewing financial statement disclosures and testing to supporting documentation lo assess compliance with app1[￿ble laws and regulations.to undedying supporting docJJmentalion. Because of the inherent limitations of an audit there is a risk that we will not delect all irregularities. induding those leading to a material misstatement in the financial ststements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions releded in the financial statements as we will be less likdy to becL+me aware of instances of non-complian(%. The nsk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves Intent￿)nal concealment. forgery, collusion, omission ￿ misrepresentations. A further dexriplion of our responsibilities for the audil of the financÉal statements is localed on Ihe Financial Reporting Counal's website at www.fr¢.org.uklauditorsresponsibilities. This description fomis part of our Report of the Independent Auditors. Page 12 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Use of our report This report is made soldy lo the charitable company's members, as a body, in accordan￿ wilh Chapler 3 of Part 16 of the Companies Act 20C6. Our audit work has been undertaken so that we might state to the charitable company's membeTS those mattets we are required to stale to thern in an auditors, report and for no other purpose. To Ihe fullest extent permitted by law, we do not accept or assume responsibility lo anyone other Ihan the charitable company and the charrtable company's members as a body. for our audil work. for this report. or for the opinions we have ft)med. Julia Mortimer {Senior Statlrtory Auditor) for and on behatf of MHA Chartered Accountsnls and Statutory Auditor CARDIFF CF23 8RS MHA is the trading name of Maclntyre Hudson LLP, a limited liabilty partnership in England and Wales {registered number OC312313). Page 13 CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENOITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Resthcted funds Notes INCOME AND ENDOWMENTS FROM Donations and legaaes 10 10 2,1CK¢ Charitable a¢tlvlties Generalist Specialist Training 455.786 221.198 11.995 2.924.137 1.473.581 3.379,923 1,694,779 11.995 3,032,933 1,851,017 Investment incnme 645 645 Total 689,634 4.397.718 5,087,352 4.886.050 EXPENDITURE ON Charitsble activities Generalist Specialist Training 281.701 212.885 485 2.979.098 1.422.163 11.087 3,260,799 1.635.048 11,572 3,023.584 1.845.311 Total 495.071 4.412.348 4 907,419 4,868,895 NET INCOMEI(EXPENDITUREI Transfers between funds 194.$63 258.711 {14.630) 258.711 179.933 17.155 18 Net movement in funds 453.274 (273,341) 179.933 17,155 RECONCILIATION OF FUNDS Total funds brought forward 1,074,268 325,964 1.400.232 1.383.077 TOTAL FUNDS CARRIED FORWARD 1,527,542 52.623 1.580.165 1.400,232 The notes forrn part of these financial statements Page 14 CARDIFF AND VALE cmzENS ADVICE BIHIEAU LTD BAIANCE SHEET 31 MARCH 2024 2024 Tot funds 2023 Total funds funds Notes FIXED ASSETS Tangible assets 12 484.795 CURRENT ASSErs Debtors Cash at bank WKI in knd 13 15.1ff2 1.336.398 9.376 43.247 24,478 1.379 645 96,275 1101 169 1.351.5 52.623 1.404.1ZJ 1,197.444 CREDITORS Amounts falkng due wlthtn one year 14 (8T.￿) (87.69S) (82.148) NET cURRETr￿ ASSETS TOTAL ASSEfs LESS euRREKf UABILMES 1.714A26 51623 1.767,049 1,elYJ,091 CREDITORS Arr¥)unts falllng due after mrye th8n ene year 15 (186.8641 1186,884) (199,859) NET ASSETS 1.527.542 51623 1.580.165 1.400.232 FUNDS Unrestrlcted funds Reslricled fLmds 18 1,527,542 1.074.268 325.964 TOTAL FUNDS 1.580.165 ￿32 These finandol statements haw been prepared fft aw)rdan¢x wlth the prDvislons apJSKabla to charftabFe companles su*cl lo the small cotnpanles regSm9. The Itnancial staternents approved ty the Bowd rf Tntsleeg arvj aulhorised fjjr issue on 28 Ncworrkner 2024 aThJ were s￿ned on it5 beN91f b￿. Peter Trott- Char The notes lom part of fmandal ¥tstery￿ts Paqe 15 CARDIFF AND VALE CITIZENS ADVICE 8UREAU LTD CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from Operat￿n$ Interest paid 348,942 13,845 188.504 9.359 Net cash provided by operating activities 335.(￿7 179.145 Cash flows from investing activities Purchase of tangible fixed assets Interest received (45.548) 645 (59,273} Net cash used in investing actIvi￿$ 44.903) 59.273) Cash flows from financing activities Loan repayments in year 11.718 8,283) Net cash used in finanung activittes 11.718 8,283 Change in cash and cash equ¥valents in the reporting period Cash and cash equivalents at the beglnnlng of the reporting perfod 278.476 111,589 1.101.169 989.580 Cash and cash equivalents at the end of the reportlng perlod 1.379.645 1.101169 The notes fomi part of these finan(3al ststements Page 16 CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCIUATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income lor fv ￿pOrting period (as per the Statemerrt of Financial Activities) Adjustments for: Depreciation charges Interest received Interest paid Decrease in debtors Increase in creditors 179,933 17,155 79,721 {645) 13.845 71.797 88,195 9,359 71.800 1.995 Net cash provided by operations 348,942 188,504 ANALYSIS OF CHANGES IN NET FUNDS Al 114r23 Cash ftow At 3113124 Net cash Cash al bank and in hand 1.101.169 278.476 1,379.645 1,101.169 278,476 1,379,645 Dobt Debts falling due ￿thIn l year Debls falling due after 1 year (7,921) 199,859 {1.257) (9,1781 186,884 207.780 11,718 196,062 Totsl 893.389 2SYI.194 1.183,583 The r￿teS fomi part ofthese financial statements Page 17 CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATUTORY INFORMATION Cardiff 8 Vale Crtizens AdV￿e Bureau is a registered charity and private company limited by guarantee having rK) share capit￿. Members have agreed to contribute £1 in the evenl of a %Mnding up. The company is incorporated in Wales in the United Kingthm and it$ registered Offi￿ is 119 Broad Steet, Bary. CF62 7TZ The nature of the companYs operattons and principal activities is disdosed wthin the Report of the Trustees. The financyal statements are pyesented in Sterling {£), the cornpany's fundional Cajr￿ncy. and rounded lo the nearest pound. The significant accounting policies applied in the preparation of these f￿anCIal statements are set out below. These policies have been consistenlly applied to dl years presented unless otherwise staled. ACCOUNTING POLICIES Basis of preparing the financial statements The financial slalements of the chantable company. which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounlrng 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 1021 {effeclive 1 January 2019).. Financial Reporting Standard 102 'The Finanaal Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Acl 20(￿. The financial statements have been prepared under the historitsl cost convention. There have been no material departu￿$ from the sLqndard. Income All income is recognised in the Statement of Finan¢ial Activrties once the tharity has entitlement to the funds. it 15 probable that the ineome will t* received. arKI Ihe amount can be rneasured reliably. Income from charitable activities includes income received under conlfact or where entruement to grant funding is subject to specific perfomiance conditions. This income is recognised where there is entrllement, when the receipt is probable, and the amount can be measured reliably. Income is deferred when the amounls ￿ceiVed are in advance of the perfomance of ts service or event to which they relate. Investment income is Tecognised on a recepiable basis. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or construciNe obligatson ccthmitting the charty to that expendf(ure, it is probable that a transfer of economic benefits bMII be required in settlement and the amount of ihe obligatK)n can be measured reliably. Expenditure is atxounted for on an a￿￿arS basis and has been dassified under headings that aggtegate 811 cost re18ted to the category. Where costs cannot be directly attributed to particular headings they have been all¢xated to activtknes on a basis consistent with the use of resources. Expenditure M chafitable actNities comprises those costs incurred by the charrty in the delivery of ils aclivities and services for its beneficiaries. It in¢ludes both costs that can be allocated direcuy lo such activities and those costs of an indirect nature to support them. Support Costs are those costs Ihal. vthilst ne￿Sary to ddiver an activty. do not themsefves pr￿lUCe or constitute the ouiput of the ¢hatitabie acknvity. This indudes governan￿ costs whith are those cost5 associated with meeb.ng the constitutional and statutory requirements of the charity and indude the accountancy fees and costs linked lo Ihe strategic management of the chaiity. Tangib￿ fixed assets Depreuation is recognised so a5 to write off the c05t or valuation of assets Jess their ￿SidUal values ovei their useful lives on the following bases= Freehold land and buildings Propety Improvements. Fixtures & Frtting$ 50/0 Strai9ht line 25% reduung balarKe Page 18 continued... CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Tangible fixed assets Fixtures, Fittings & Computer Equipment 33% straight line Fixed assets are initialty rBcorded at cost. Only assets which cost £1.(M)O or more indNidually are capitalised. Taxatlon The charity is exempt from corwration tax rts charilaLle adivtrt￿s. Pension costs and other post-retlrement benefits The charitable company oFerales a defined contri1￿tiOn pension scheme. Contributions payable to the charitable c￿panY'S pension scheme are charged to the Statement gf Financial Adivrties in the period to which they relate. Operatlng lease agreements Rentals applicable to operatiThJ leases where substantsally all of the benefits and risks ol ownership remain y￿¢h the lessor are charged against profits on a straght line basis over the perK>J of the lease. The benefits of lease ir￿trIeS are reccMJnised in the statement of financial aclivities over the lease period. Basis of recognition of liabilities Liabilities are recognised as soon as there Is a legal or constructive ob1￿jatiOn which ccffimits the charity lo the expendilure. Unrestricted funds Unrestricted funds are donatK)ns and olheT irTrcomTrng resources r￿1Vable or generaled for the obieds of the charity without further specified purFX)se and are available as general funds. Designated funds Designated funds are unrestrided funds earmarked by the toard for part￿laT purposes. Restricted funds Restricted thjnds are to be used for speufic purposes as laid down by the donor. Expendituie. Wh￿ meets these criteri8, is thar9ed to the fvnd. togethei with a fair allocation of support and govemance costs. Financtal Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initialty recognised at transaction value and subsequenlly measltred at their settlement value. Debtors with no slated interest rale and receivable within ￿e year are recorded at transaction price. An losses arising from impaimienl are re¢ognised in expendtture. Prepayments are valued at the amoLFnl prepaid net of any trade discounts due. Creditors and provisions are reco9nised where the charity has a present obligation osulling from a past event that will probably result in Ihe transfer of funds to a third party and the amounl due to settle the obligation can be measured or estimated reliabty. Creditors and provisions are nomialty recognised at their settlement amount after allowing for any trade discounts due. Significant accounting Judgements and estimates Estimates and judgements are ￿ntInUallY evaluated aNI are based on historical experience and other relevant factors, including expectat¢ons of fijture events thal are belEved to be reasonabte under the circumstances. The preparation of the financial ststemenls Tequires management lo make estimates and assumptions Con￿rning the future. The resultFng accounting eslimales will. by definition, be likely to differ from the related actual results. No esb'males or assumptions have been identified that have significant risk of cau5tng material adjuslrnenl lo the carrying amounts of assets ar%J liabilities bwthin the nexl financial year. Page 19 ontinued... CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 DONATIONS AND LEGACIES 2024 2023 Donations 10 2,100 INVESTMENT INCOME 2024 2023 Deposit ac£ount interest INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Generalist Sundry incorne Social enterprise training income Grants Grants Grants 49.959 21,707 Generalist Generalist Speaalist Training 33.240 3.296,724 1,694,779 11.995 38,331 2.972.895 1.851,017 5.086,697 4,883,950 Grants received, included in the above. are as folk)ws". 2024 2023 Welsh Government- Advi¢elink Cymru - Breathing Space Welsh Government- Advicdink Cymru - Speaalist Welsh Government- Advicdink CyTnru - Remote Welsh Government- Advicelink Cymru - Generalist Welsh Govemmenl- Advicelink Cymw- A¢ce55 partner frjnding Welsh Govemment- Advicelink Cymru - Speakeasy law ￿ntre Welsh Government- Advicelink Cymru - Wnter capaaty Welsh Government- Basic Income Pilot Citizens Advice- Big Energy Saving Network Cardiff Counul - Cardiff Advice Fund Department for Business & Trade- Ci*tzens Advtce Consumer Service National Grid - Energy Advice Programme Welsh Government- EU CitrLens Rights Money & Pension Scheme- Web that Martin Lewis - Scams Advice Initiarve Motor Neurone Disease Association Money & Pension Service - Pensionwise Welsh Govemment- Private Rental Sector Debt Advice Servi Moondance Foundation Roald Dahl Marvellous Children's Charity Welsh Government- Claim Whats You Citizens Advice.. Action on Gambling Ha Citizens Advice.. Fuel Bank Foundab"on Moodance Foundation & National Grid - Warmer Wales Vale of Glamorgan Council - General Adwce Office for Veterans Affairs UK- Amied Forces Veterans Piknt Cardiff Metropolitian Unrversity- Outreach Funding Citizens Advice - Cost of L¢vin9 Crisis BEIS- Energy Outreach Energy Supplier Inilialive- Energy Outreach Coastlands Church - Vale Food Bank Proje 70.465 347.619 472.290 477,082 16.800 72,073 11,995 173.972 67.110 399.895 449,800 470,364 124,266 2,625 300,000 1,096.694 12,975 149,105 73,508 15,372 73,OCKJ 398.939 265,080 10,394 12.000 666.000 330,000 1.199,729 18.9CQ 28,359 88,5 398.938 278.334 12,000 680.41Y) 1,500 47,450 187,335 62,219 187,335 2,000 4.002 15.OCKJ 1,750 15,750 37.950 5.003,498 4,823.912 Page 20 continued... CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE FINANCIAL STATEMENTS - c¢)ntinued FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES COSTS Support costs (see note 7) Direct Costs Totals Generalt5t Specialist Training 2.669.000 1.338,307 9.472 591,799 296.741 2,100 3,260,799 1.635.048 11,572 4,016.779 890.640 4,907,419 SUPPORT COSTS Govemance costs Wages Deprecialion Other Totals Generalist Speciali$l Training 246,814 123.759 876 52.972 26.561 188 283,888 142,347 1.D)7 8.125 4,074 591,799 296,741 2,100 371,449 79,721 427.242 12.228 8KI.640 NET INCOMEI{EXPENDITURE} Nel incomel(expendiluTe) is staled after chargingl{crediting): 2024 2023 Auditors, remuneration Audito¥s' remuneration for non audit wo Depreryation - owned assets Operating leases 10.920 1.260 79,721 82,254 12.945 88,194 81,461 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other beneffts for the year ended 31 Marth 2024 or for the year ended 31 March 2023. Trustees. expensos Travelling expenses of £89 (2023: £59} were paid by the charity in regard to 3 trustees {2023'. 2> during the year. There weie no balance5 outstanding at the year end (2023: £41). 10. STAFF COSTS 2024 2023 Wages and salaries so￿al secuiity costs Other pension costs 3,607.159 311.710 110,078 3,461,￿2 304.468 105.186 4.028,947 3.871,556 Page 21 cL)ntinued... CARDIFF AND VALE CITIZENS ADVICE 8UREAU LTD NOTES TO THE FINANCIAL STATEMENTS - ¢ontinued FOR THE YEAR ENDED 31 MARCH 2024 10. STAFF COSTS - continued The average monthly number of employees during the year was as foll¢yNs.' 2024 Chief Executive l Deputy Senior Managers Operations Managers Admin & Support Advice & Information 2023 11 125 10 131 143 148 The number ofemployees whose employee beneffts (exduding employer pension costs) exceeded £60,OIM) was.. 2024 £60,001- £70.OCX) £70.001- £80,OIXI 2023 The total key management personnel Temuneralh)n beneffts during the year was £399,330 (2023- £367,126). Induded within staff costs are temination payments amounting to £Nil during the year (2023.. £nil). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 11. Unrestricted fvnds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 2,1 2,100 Charitable activities Generalist Specialist 153,619 93.754 2,879,314 1,757.263 3.032,933 1,851,017 Total 249.473 4.636,577 4.886.050 EXPENDITURE ON Charltable activities Generalist Specialist 62.1￿1 37.930 2.%1.434 1,807,381 3,023.584 1.845,311 Total 1C4).080 4.788.815 4.868,895 NET INCOMEIIEXPENDITUREI 149,393 {132,238) 17.155 RECONCILIATION OF FUNDS Total funds brought foward 924.875 458.202 1.383,077 TOTAL FUNDS CARRIED FORWARD 1.074.268 325. 1,400.232 Page 22 continued... CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 12. TANGIBLE FIXED ASSETS Fixtures and fittirKJs FreehoFd property Computer equipment Totals COST At 1 April 2023 Additions Disposals Reclassification 315,CiyJ 408,S)6 42,938 (3,630) 4.691) 723.506 45,548 (3.630) 2.610 4.691 At 31 March 2024 315.CMXI 443.123 7.301 765,424 DEPRECIATION At 1 April 2023 Charge for year Eliminated on disposal RedassifKatiO￿tTanSfer 65.625 15.750 173.086 63,971 (3.630) 3,547) 238,711 79.721 {3,6301 3.547 At 31 Marth 2024 81.375 229,880 3.547 314.802 NET BOOK VALUE At 31 Marth 2024 233.625 213.243 3,754 450,622 At 31 Marth 2023 249.375 235.420 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments and accrued Ir￿Me 24,478 96,275 14. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Bank102ns and overdrafts (see note 16) Other creditors Accruals and deleffed income 9,178 19.627 7,921 19.142 87,6 82,148 Included within accnjals arKI deferred Inco￿ above is the fotl(AYing deferred inoxne: 2024 2023 Citizens Advice - cost of Irving crisis 15.000 15,000 The prior year deferred income balance was released in full to the SOFA during the year. Page 23 continued... CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Bank loans (see note 16) 186.884 199.859 16. LOANS An analysis of the maturity of loans is gNen below.. 2024 2023 Amounts falling due wrythin one year on demand: Bank loans 9,178 7.921 Amounts falling due ktwen two and five years.. Bank loans - 2-5 years 186.884 199,859 The long-term loan is secured by fixed charge over the freehoid pioperty. Interest is Charged at 4.41Yo. LEASING AGREEMENTS 17. Minimum lease payments under nofKancdlabfe operating leases fdl due as follows". 2024 2023 Within one year Be￿een one and five years 25.768 22.796 65.3 48.744 48.564 114050 Page 24 rnntinued... CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 18. MOVEMENT IN FUNDS Net rThJvement in fiJThJs Transfers be￿een funds Al 3113124 At 114r23 Unrestricted funds General fund Emergency Resefve (Designated) 681.944 392.324 194.￿3 227.408 31.303 1.103,915 423,627 1.074,268 194.563 258.711 1.527,542 Restricted funds AdV￿eline Cymru AdV￿link. Breathing Space Advicelink Cymru Belter Advi￿., Better Lives Building Communrty Resilien￿ lo Scams Cardiff Advice Fund Citizens Advice Consumer Sepdice Energy Advice Programme EU Citizens Rights Frontline Advice Money & Pension Scheme - Web Chat Martin Lewis- Scams Advre Initiative MASDAP Motor Neurone Disease Association Pensionwise Private Rental Sector Debt Advi￿ Service Moondance Foundation Roald Dahl Children's Charity Claim What's Yours Citizens Advi￿." Action on Gambling Ham Citizens Advi￿.. Fuel Bank Foundalion Warmer Wales Big Ener9y Savings Network Basic Income Pilot 1.929 10 37.836 56,211 833 134,366 12.849 2,602 1.535 414 16,827 238 17.595 4.733 24,448 273 9.355 1.085 424 (1.929) 52 (14,312} 62 23,524 {56,2111 1833) (134.366) 12,907 2,432 235 414 33 (203} (1.300) (16,827) {238) (17.595} {4.7331 (24.448} 1.459 91 1,459 9.355 1,166 125 81 (299> (500) {1,500) 996 {953) 1.500 1996) 1,397 325.964 14.630 258.711 52,623 TOTAL FUNDS 1.400,232 179.933 1.580,165 Page 25 continued... CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 18. MOVEMENT IN FUNDS - conlinued Net movement in fvnds, included in the above are as follthvs.. Incoming resources Resources expended Movement in funds Unrestricted fvnds General fund 689,634 (495,071) 194.563 Restricted funds Adviceline Cymru Advicelink.. Breathing Space Advrcelink Cymnj Citizens Advice Consumer SeN Energy Advi￿ Programme EU Citizens Rights Motor Neurone Disease Association Pensionwise Private Rental Sector Debt Advi￿ Service Roald Dahl Children's Charity Claim What's Yours Warmer Wales Basic Income Pilot {1.929) (70,415) (1.400,1761 11,199.671) (18,867) (28.359} (88.4821 (397,4791 (278,243) {11,919) {680,699} (62.214) 173.8951 {1,9291 52 (14,3121 58 33 70,467 1.385.864 1,199.729 18,900 28.359 88,536 398.938 278,334 12,0)0 680.400 62,219 173972 1.459 91 81 {299} 77 4,397,718 4.412,348 14.630 TOTAL FUNDS 5.087.352 4.907.419} 179.933 Page 26 o)ntinued... CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 18. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in fvnds At 114122 3113123 Unrestricted funds General fvnd Emergency Reserve IDesi9nated) 532,551 392.324 149,393 681.944 392.324 924.875 Restricted funds Adviceline Cymw Advicelink". Breathing Sp Advicelink Cymru Better Advice.. Better Lrves Building Community Resilience to Scams Cardiff Advice Fund Citizens Advice Consumer Servrce Energy Advi￿ Programme EU Citoens Rights Fronlline Advice Money & Pension Scheme - Web Chat Martin Le￿s- Scams Advtee Initsative MASDAP Motor Neurone Dtsease Association Pensionwise Private Rentsl Sector Debt Advice SeNice Test & Learn Welfare Benefft Take-up Moondance Foundation Roald Dahl child￿n'S Chartty Claim Whafs Yours Citizens Advice.. Action on Gambling Ham Citizens Advi￿.. Fuel Bank Foundation Wamier Wales Big Energy Savings Nehviyk 149.393 1,074.268 1.929 1.929 167.168 56,211 833 85.911 10,348 2.461 1,535 414 16,415 231 17,595 3,940 9.558 63.425 9,744 8.102 1.079 (129.331) 37.837 56.211 833 134,366 12,849 2.602 1,535 414 16,827 238 17,595 4,733 24.448 273 48.455 2.501 141 412 793 14,890 (63,152) (9.744} 1,253 9.355 1.085 425 500 1.500 (997) 1,397 75 500 1.500 (997) 444 458.202 132.238 325,g64 TOTAL FUNDS 1,383,077 17.155 1.400.232 Page 27 ¢ontinued... CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 18. MOVEMENT IN FUNDS - ¢ontinued ComparatNe net movement in funds, included in the aLM)ve are as follows: Incoming resour Resources expended Movement in funds Unrestrlcted funds General fund 249.473 (100,080) 149.393 Restricted funds Advicelink= Breathing Sp Advi¢elink Cymru Cardtff Advice Fund Citizens Advice Consumer SeNi¢e Energy Advice Programme EU Citizens Rights Money & Pension Scheme- Web Chat Martin Lewis - Scams Advice Initiative Motor Neuione D￿ease Associati Pensionwise Private Rental Sector Debt Advice Service Test & Leam Welfare 8enefit Take-up Moondance FourKlalion Roald Dahl Children's Chartty Claim Whavs Yours Citizens Advice". Action on Gambling Ha Cilvzens Advice.. Fuel Bank Foundation Warmer Wales Big Energy Savings Network 67,110 1.444,325 300,C(10 1,096.694 12.975 149,105 73.508 15.372 73.000 398,939 265.080 (67,1011 (1.573.656) (251.545} {1,094.193} (12,8341 {149,105) (73,096) (15.365) (72,2071 1384.0491 {328.232) (9.744) {9.141) (11,9941 {665.9251 (129.3311 48,455 2.501 141 412 793 14.8S {63,152) (9,744) 1.253 10.394 12,OC(I 666.C(JO 500 75 500 1.5 (9971 4H 47.450 2.625 (48,44n 4,636.577 4,768.815 132.238 TOTAL FUNDS 4.886,050 4.868.895) 17,155 Restrlcted funds Adviceline Cymru and Advicelink Cymfu Designed to help people in Wales who are most in need of advice se￿iCe5. particajlarty those who would not usualty seek advice. Both are fvnded by Welsh Governmenl. Better Advi¢e Better Lives Project to deliver advi￿ in primary heath care settings- funded ty Welsh Govemment Bi9 Energy Savlng Network Funding for Big Energy Saving week. a national campaign to help people Djt their energy lills and gel all the financial support they are entitled to. Butlding Community Resilience to Scams Funding to develop a o)mmunty connector model whKh can be used at a local level to help deliver scams awareness messaging. Cardiff Advice Contract issued by Cardiff Councd Ihat requires the provision of generalist and specialist ajvice lo be delNered in Cardiff. Citizens Advice Consumer Service Funding from the Department for Business. Energy & Industrial Strategy to provide advits & infomiath)n via the telephone arKI e-mail on consumer rights. Claim VVhaf$ Yours Funded by Welsh Govemment lo provide fftcome maximisation advice for dients via telephone. Page 28 Jntinued... CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 18. MOVEMENT IN FUNDS - continued Energy Advi¢e Programme - Natlonal Grid Provide one to one energy advi￿ appointments to clients are at risk of child povety- Funding by National Grid EU Citizens Rights This Servi￿ supports EU. EEA and Swiss ctlizens wth sdded and pre-settled status applications and also offers access to wider advice servi￿$ including specialist advice on discrim¢nation and explotlalion in the workplace. Funded by Welsh Govemment Frontline Advice Funding from Welsh Govemment to provide face to f* weffare benefits advits. MAPS Web Chat A specsalist debt advice gwen via Webchat. funded by the Money & Pensi¢m Servi￿. Martin Lewis Scams Advlce Initiative Project designed for people who think they have or are being SC2mmed online can now call a dedicated telephone number, use a Webchal service or a¢ttss face to face appointrnents. MASDAP A Money ailvice SeNice funded proiecl to deliver face to face debt advi￿. Moondance Foundation Advice Servi￿ provided to dients aged 65 and over who have f￿ed bartters to ac￿sIng devi￿ during the pandemic. Funded ty the Moondance Foundation. Motor Nèurone Disease Association Since April 2017 Citizens Advice Cardiff and Vale has been conlracled by the Motor Neurone Disease Association lo provide distan￿ benefrt advi￿ to people wilh and affected by Motor Neurone Disease induding the ASS￿latiOn,5 care cenlres. health and social care professionals, and the Association's stsff and volunteers. The se￿￿e is delivered from a call centre located in the organisation's Barry office. Penslonwise Funding from the Department of Works and PenS￿n$ to delwer fa￿ to face guidance on defined contribution pensions to people approathing retirement. Prlvate Rental Sector This is a debt advice he[￿ine Servi￿ fisnded by Welsh Govemment. This project enables tenants in the private rental sector to manage their debts and maximise their income. with a ¥￿W to helpirYJ them to pay their rent ar sustain their lenanaes. Roald Dahl Children's Charity Funded by the Roald Dhal Children's Charity to provide specialist beneffts advice to families being supported by Roald Dhal nurses. Cltizens Advice." Action on Gambling Hami Research campatgn to assist Act￿ on Gambling Harm d)arity to thallen9e unfair practices In the gambling industry. Citizens Advice: Fuel Bank Foundation Funded by Moondance Foundation & National Grid - Provide advice service lo assist people to mana9e their ener9y more effvenlly and avotd fijel povety. Warmer Wales An energy service project funded by the Moondance foundation and Ihe National Grid. designed lo meet an immediate and pressing need and will ensure thal thousands of peop￿ in Wales get the cnjcial advice they need to manage their energy more efficienty and avoid fuel povety. Page 29 eontinued... CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 18. MOVEMENT IN FLINDS - contlnued Advicelink Cymru - Basic Incorne pilot Funded by Welsh Govemmenl the proiecl is destgned to gNe athice for young people e[￿ible for the Welsh Govemments Basic Income Pilot for care leavers. Des nated fund Emergency reserve The Committee had designated emergency funds as reo)mmend by the Chatity Commission. The value of this fund was calculated with reference to financial risk assessment undertaken by the Committee. The emergency fvnd will ensure that the Charity can c(￿tinue lo provide ServI￿S unintemjpted should an emergency funding situation occur. Transfers between funds There have been a number ol transfers from ￿$tri￿ed funds to the general fijnd wheie projects have ￿Sed several years ago, and completion reports have been submitted and atrepted. The balan￿ have likely arisen due lo the incorrect allocation of income andlor costs in prior years. The MASDAP agreement alkws for the transfer of unspent )lJnds lo the general fund. EMPLOYEE BENEFIT OBUGATIONS 19. The charity ￿tllbUtes lo a defined contrtbution stheme. The pensi¢)n costs charge for the year represents contributions payable by the charity to the scheme and amounted to £110.078 (2023.. £105,186). At the year end there were outstanding contribubons of £19.627 {2023- £19,142). 20. RELATED PARTY DISCLOSURES There wefe no related paty transactions for the year ended 31 Marth 2024. Page 30