REGISTERED COMPANY NUMBER: 04291764 REGISTERED CHARITY NUMBER.. 1089294 CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 MHA Statutory Auditor Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF County of Cardiff CF23 8RS CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Contents 1. Trust Infomiatlon 1.1 Constilution 1.2 Addresses 1.3 Board ol Trustees 1.4 Induction of Trustees 1.5 Conflict of Interest 1.6 Organisalional StrUc￿re 1.7 Senior Staff 1.8 Statutory Requirements 1.9 statement of Control 2. Alms and Objective5 2.1 Public Benefit 3. Trustees, Annual Report 3.1 Introduction 3.2 Services Provided 3.3 Objectives and Activities 3.4 Achievernent and Performan 4. Flnancial Revlew 4.1 Risk Assessment 4.2 Reserves Policy 4.3 Investment Policy 5. Future Plans 6. Ftnanclal Review of the Year. Independent Auditors, report 14-16 Statement of financial activities 17 Balance sheet 18 Statement of cash flows 19 Notes to thg financial statements 20-35 CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD The trustees present their report and financial statements for the year ended 31 March 2025. The financlal Statements have been prepared In accordance wlth the accounting polide$ sel out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companie$ A¢t 2006 and "Accounting and Reporting by Charities.. Slatement of Recommended Practice applicable to charities preparing thelr a¢counts in accordance wth the FinanGtal Reporting Standard applicable in the UK and RepubliG of Ireland IFRS 102) {effectiv8 1 January 20191" 4 Trust Inforniation 1.1 Constttutlon Cardiff and Vale Citizens Advice Bureau Ltd (now known as 'Citizens Advice Cardiff and Vale.) is a charitable company limited by guarantee. It was incorporated under the Companies Act 1965 on the 21st September 2001 Iregistralion number 4291764) and registered as a Charity on the 12 Novembef 2001 (Charity registration number 1089294}. The organisation is regulated by its Memorandum and Articles of Association that We￿ amended by minutes of Special Resolution on the 14 February 2003 and further arnended by minutes of Special Resolution on 13 Ma￿h 2007. An additional Special Resolution was granted at a meeting on 30 March 2016 to extend the area of benefft of the service provided and an ad(fitional one to extend the area of benefit further on 7 January 2021. 1.2 Addresses The following are the addresses ofthe Prin￿PaI Office of the Charity and its Bankers. Legal Advisers and Auditors.. Principal Office: Citizens Advice Cardiff and Vale of Glamorgan 119 Broad Street BARRY CF62 7TZ Bankers.. Unity TNst Bank plc Nine Brindley Place Bimiingham B12HB Legal Advisers.. Paul Archer- HR Adviser 21 Cox Stalls Wootan Bassett Swindon SN4 7AW Senior Statutory Auditor. Rachel Doyle ACA Dcha MHA Elfred House Oak Tree Court Cardiff Gale Business Park CaTdrff CF23 8RS Page 1 CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD 1.3 Board of Trustees The dlrectors of the charltabte company {Ihe charity) are its trustees for the purpose of charity law and throughout th1$ report are colle¢lively referred to as the trustees. The Trustees and Directors acting during this financial year. Trustee Membor organisation (If approprlate) Posltion Chris Graham TwsteelOire¢tor Peter Trott Chair￿r￿steelD￿RCtor Denise Goode Vice ChairtrrusteelDirector Louisa Scadden TrusleelDirector Michael Trickey TrusteelDirector Helen Morgan Treasurertrrusteelolrector Cathryn Mayo TrusteelDirector Olivia Manley TrusteelDI￿l9F Philip Champness TrusteelDirector Peter Cartwrighl TwsteelDirector lapppinted 6 December 2024} Ann-marie Harf(in TrusteelDirector {appointed 20 January 2025) Jane Clay Company Secretary CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Recruttln and Tralnln Trustees Citizens Advice Cardiff and the Vale is commltted to its aim of ensuring that the Board of Trustees contains 8 broad range of skills, knowledge and experience. This includes trustees from parts of the cornmunity which have traditionally not played a large part in charities, such as young people. people from minority and ethnlc communities and people with dlsabilities. CTeallng a diverse board will also help to Create accountability and public confidence. We recognl$e that all Irustees are volunteers and as such are not subject to the confine$ ol Employment Law bul are not dlsqualified by law under seclion$ 178 to 180 of the Charitie5 Act 2011. It 1$ Important that all tNstees undetstand and are committed to the iwo main alms of Citlzens Advl¢e: To provide the advice people need for the problems they fa¢e To improve the policies and practiGes that affect people's lives The responsibility for the recruitment of new trustees will rest firmly with the existing tnjstees who must oversee the management of an open and efficient process and atways act in the best interests of Cilizens Advice There are a variety of methods available to the boa￿ lo recruit new trustees. tho traditional method of personal recommendation and word of mouth remains popular but alternative methods are Lrtilised when required. These include: a) Advertising in local newspapers and soGiety member magazines b) The National Council forvoluntary Organisations {NCVO) operates Trustee Bank which allows us to advertise and view trustee vacan¢ies c) Small Charities Coalitlon runs Trustee Finder a free national network of tNstees d) Contacting local branches of professlonal bodies e.g. law, accountancy. marketing or HR e) Contacling HR departments in Cardiff Coun¢il and the Vale of Glamorgan Council and other large businesses in the area Selecaion Pr ss 1. ￿1 applicants are asked to complete a 'TfUStee Expression of Interest Form. whlch is forwarded to the Chair of Trustees 2. Chair will arrange an °inlormal chat. with applicant to discuss the General Job Profile and the twin main airns of Citizen5 Advice 3. If an applicant is considered suÈtsble by the Chair, then Ihey will be invited to the next board meeting as an observer to establish {a} if we a￿ suitable for them and (b) if they are suitable for the organisation 4. Arrange formal interview with 2 trustees with a fomial scoring malrix 5. Successful applicants are advised of the 3-month probation pettod {for both parties) and the dates of the ftrture meeting 6. The successful applicants will become ¢¢>opted members of the board until the next AGM when they will be offiaally appointed. Trainin Trustees undertake an induction programme lo familiarise themselves ￿th the structu￿, key staff and frontline services. New *ruslees complete a skills audit which is reviewed on an annual basis. Sklll and knowledge gaps are identified, and appropriate action is taken to address the individual's training needs. It is recognised at this Stage that certain specific ski115 and knowledge are in 9reater demand than in supply and a decision betsveen the importance of diversity and the acquisition of the $ki115 and knowledge witl be taken. &tentio It is recognlsed that all t￿￿tee8 have a legal term of office bth can be re-appointed ff they choose to do so. It is also recognised that g trustee may wish to leave their role., as volunteers there is no legal obligation to give a period ol notice. We expect that a period of at least one month's notice be given and that the tNslee teaving assist8 in the identification 8nd recrultm6nt of a repla¢ement. CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD 1.4 Indu¢tlon of Trustees As charity trustees, members of the Tnjstee Board cary ulllmate responsibility for the man8gement of the organisation's assets, including volunteers and staff. Trustees are also volunteers themsefves and the induction needs to give them a Gloar picture of the aims and work of the organisation and expectations of their role in achieving those aims. It is recognised that Trustees will have varied levels of knowledge of the roles and responslbllilies of a charlty tTUStee, the work of a Lo¢al Citizens Advice, the adwce needs of the lo¢al a￿# and links with other exlemal organisations. It is also reGognlsed that Trustees wlll bring their own knowledge and experience to the Trustee Board. Thls provides the organisalion with perspectives and contacts with different groups and communities and wldens the potent.al range of skills available. The Induction process alms to: infomi the new trustee about the roles and responsibilities a trustee board member is exp¥led to carry out infomi the new trustee abolrt the current work of the organisation, the business and development plans, financtd and staffing resources. quality and service requirements identify the knowledge, skills and experiènce that Ihe tnjstee brings to the Trustee Board identify any further needs for information and possible sourw of further support An induction checklist is maintained for all TNstees as a way of recording that all activrties have been undertaken Confllct of Interest The TTUStee Board is mindful of the possibility of confiicls of interest The Board has procedures lo ensure that no such conflicts exist. We also confim) that outside of the funding shown in note 2 of these accounts, and the provision of salary adminislralion, there have been no related party transaGtsons throughout the year. CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Organlsational Structure Audit and Rlsk sub-committee Cardiff and Vale Trustee Board Senlor Management Team Team Leaders Paid advlsers, caseworkers and admlnlstrators Volunteers The work of the Board is supported by our Audlt & Risk Committee which undertakes a detailed scrutiry of audit findings and risk management Senior Staff Chief Executive Jane Clay Deputy Chief Executive Abbie Morgan O'sullivan Advice Servl¢¢s Manager Callurn Lavin Consumer Service Manager Claire Williamson HR Manager Richard Murphy Finance Manager Lynne Wallace & Facilitles Manager Dafydd Young Executive Assistant Paige Twomey All staff Salaries. induding those of the senior management team. are reviewed bl-annualty by a combination of th& CEO, a trustee and tho HR & Finance Manager. Any increases applied are based upon the skillset, knowledge and responsibility of each individual employee. Salaries for all posts are benchmarked against Similar organisation$ in the sector to ensure that they remain competitive. CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD statutory Requlrèments Trustees Rosponslbllltles In Relatlon to tho Flnanclal Statements Company law require$ the Board of Trustees to prepare financial statements for each financial peritxl whlch glve a tru8 and fair view of the slate of the affairs of the charitable company 89 at the balance sheet date and of ils incoming ￿sourceS and application of resour¢es, Including income and expenditure for the finan¢lal year. In preparfng these financial statements, the Board of Tru$tees should follow best practice and-. $ele¢t suitable ac¢ounllng polldes and apply them ¢onsl$tently,' make judgements and estimates that are reasonable and pruden( state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financlal statements on the golng concern basis unless it is inappropriate to presume that the ¢harity will continue in business. Tha Board of Trustees is responsible for keeping proper accounting records which disclose with reasonabfe accuracy at any time th8 financial position of the charitsble company which enable il to ensure that the financial statements comply with the Companies Act 1985. It is responsible for safeguarding the assets of the charty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees Bre aware.. there is no relevant audit informab.on of which the charitable company's auditor is unaware: and the tNstees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomialion and to establish that the auditor is aware of that infonnation. The trustees are iesponsible for the maintenance and integrity of the charity and financyal inft)miation included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other Juri$dicttons ststement of Control The local Citizens Advice Trustee Board oversee the infomation security of all personal information of our cllents. staff. funders and strategic partners that is processed. The local Citizens Advice hold joint responsibilty for client data that is held in our case management system, wilh the national Citizens Advice Service. An infornation assurance management team exists to ensure tho ¢onfidantiality. integrity and availability of all personal and sensilNe data is maintained lo a level which is compliant with the requirements of the UK General Data Protection Regulation and Dats Protection Act 2018. CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD 2. Alm$ and ObJe¢Uves Objects The objects of the Charity are set out in the Memorandum ofAssocialion,' The Charity's objects are to promote any Charitable purpose for the public benefit by the advancement of education, the protection and preservation of health and the relief of poverty, sithness and distress in particular, but wlthoul Ilmllation. foi the benefit of the community principally Cardiff and the Vale of Glamorgan. and surrounding areas, but in general for the whole of the UK. The aim ot the 202412025 financial year was to lake forward the objectives outlined in our Gurrent buslness plan and to continue to setve our communities by: Providing the advice people need for the problem$ they face. Improving the policies and practices that affe¢t people's live& Alms, Objectlves. Strategles and A¢tlvltles for the Year Citizens Advice Cardiff & Vale aims to provide free. confidential, impartial and independent advice and information for the benefit of the mmuniltes we serve. We 8150 alm to exerctse a responsible influence on the development of soclal policies to advance service5 that ensure individuals do not suffer through a lack of knowledge or an inability to express their needs effectively. Public Benefit The organisation's trustees can confim that they have had due regard to public benefit guidance published by the Charity Commission. Significant plans and activities that we undertook during the year, that demonstrate public benefft are sel out under the Achievements and Perfom)ance section. Trustees Annual Revlew Introduction The Business Plan covering 2024-2027 identffie5 six strategi¢ goals: Advice.. We will improve the experience people have when they come to us for help. so everyone leaves w4th the knowledge and confidence they need to find a way foNard. AdvoGacy.' We will be a slrong8r voice on the issues that matter most to the people who ￿rne to us for help. Technology: We will use technology to enable a great experience for the people who come to us for help, while freeing up resources that will allow us to meet more demand. Sustainabilty: We will Secu￿ our future as a service through a more Col￿boratIVe, pma¢tlve and ¢ompetitive approach to fundraising Equalty. Dlversity & In¢lusion'. We will bg a collaborative, innovative and hi9￿perfOrning Service that promotes eqv81ity, diversity and inclusion and challenges discrtminatlon. Our People: We will put employe wellbeing at lh¢ forefront of our recTUitment and retention strategy. CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Servlce$ Provlded The principal activity of Citizens Advice CardWI & Vale remained the provision of free, confidential. independent and impartial advice, Infomiation and support for members of the publio This is provided through our office in Barry, which houses the majorTty of our projects, including multi-channel contact centres, and our Offi￿ space in Cardiff Council's Central Library Hub. In addition to Core funded generalist advice. the following servi￿8 were provided.. Generallst advice, infomiallon and signpogling to $eNlce$ Specialist advice in Welfare Benefrt and Debt Spe¢iallst Welfare Benefll advice to those living wllh or affected by Motor Neurone Disease Specialist Welfare Beneflt advice to families who have children with health conditions and are registered with a Roald Dahl Nurse Energy advice to those experiencing or at risk of the cOnsequen￿S offuel poverty Support to young people leavlng care Specialist Debt advice to those experiencing a mental health crisis Specialist telephone advice on consumer issues Specialist guidan￿ on pension options Generalist advice to those accessing Vale Foodbanks and facing deslilution Generalist advice with a view to tackling child poverty We are able to offer quality assured services across a range of channels including face-trpface, telephone. digital irrteractions or at outreach venues in Cardiff and the Vale of Glamorgan. Socral Enterprise {mainly training) is an additional source of income and will vary. We report on this in the quartedy finan￿ ieport. Objectives and Activities Criterla or measures to asse55 succe5S A key*lement of the Citizens Advice Membership Scheme is the requirement ot every member to undertake an anntsal LeadeFShip Self-Assessment covering the following eight areas.. GovemanGe strategy and plannlng Risk management and compliance Financial govemance People management Operational perfomance management Resear¢h and campaigning Equalty. dwersity and inclusion CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD The assessment of the self-assessment is validated and approved by the National Citizens Advice service and any development outcomes are ag￿ed in partnership with Its members. As the LSA aligns with extemal standards, compliance also indicate8 compliance v￿th Ihe mlnimum ￿quirements of the Advice Qual Standard (AQS), Money and Pension Service IMaPS), debt quality framework and the Information and Advice Qualty Framework for Wales (IAQFW). In 202412025. Cltizens AdvlGe Cardtff & Vale was rated 'green' In each of the eight LSA areas, indicating excellent leadershlp. Charitable Actlvltles A9 in previous years, we continue to ptay a significant role in the development of the national Citizens Ad￿ce service. The Chief Executive is a Member of a number of cofflmittees and worl(ing groups led by Nation￿ Cillzens Adwce and Citizens Advice Cymru. Our Irustees and staff sit on a number of national committees and forums. We continue to support and contribute to a wide range of local meetings and fora concerned wFth social inclusion and community development, for example.. Cardiff and Vale Regional Advice Netsvork Supporting People Liaison Group 50+ Forums Rent Smart Wales Stakeholder Group We regard rt as an tmportant part of our role to use these fora to share infomiation arising from the problems fa¢ed by the communities we serve, so that local decision makers can develop new policies that are evidence led. Regional and local involvement is critical to our suc(¥ss and matches the social policy aim and objective o* the national Citizens 14x1vi￿ setvice. Key achl¢vements during 202412025 45.000 ciiènts raised 159,000 issues on local. Wales 8nd UK-wide projects 9,738 dients dealt with by the Advtcelink Cymru Remote Service 12,366 calFs dealt with by the Claim Whavs Yours advice team 228 calls. web chats and emails deall wtih by the MND Benefits Advice Team 386 families supported by the Roald Dahl Family Support Servl 100,150 calls, web ¢hats and emails handled by the Consumer SeNice Call Cent £17.6 million income gained for dients £800.000 of problem debt handled £4 million of problem debt Written off by creditors £6.85 in finan¢ial gain8 for every £1 Invested by fvnders 49% of clients were people with a disability or long-term health condition CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Achlevement and Perfomian¢e In 202412025 we delivered several new and existing projects des¢gned to meet our charitable aims, as 8ummarised below. The Welsh Government Single Advice Fund funded Advicelink Cymru projects, including Specialist Debl and Benefits Advl¢e. and Generalist Advice both lo¢ally and across Wales vla our call centre Energy Advice, funded by the Moondan¢¢ Foundation and National Grfd Pensions Guidance, funded by the Monoy and Pensions Service (MAPS), across the whole of Wales and in partnership with Citizens Advice Ynys Mon The Welsh Govemment funded Basic Income Pllot The Family Support ServÈce, funded by the Roald Dahl's Marvellou$ Chlldren'8 Charity The MND Benefit Advi￿ Servio, fvnded by the Motor Neurone Disease Association The Vale Foodbank Servi￿. fvnded by Trussell The Consumer Service, funded by the Department for Energy Security and Net Zero and the Department for Business & Trade The Cardiff Council funded Cardiff Advtce Service The Vale of Glamorgan funded advice service The Child Povety and Innovation Fund Service, providing Generalist Advi￿ to families in schools. Key Perfomiance Indlcators Citizens Advice Cardlff & Vale works to a wide range of KPIS agreed with its various funde￿ and appropriate to the SeNi￿S funded. In 2024r2025 we met or exceeded the great majority of ourfunded KPIS. CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Flnanctal Revlew and Perfonnance The Statement of financial acltvities (SOFA) on page 17 together with the relevant notes (pages 21 to 33) show the wor1( that the charity has undertaken in the past year and how these activities are financed. Incoming resourGes, detailing the type and Source of income received together with the funds brought forward, constitute the resources avallable. The resour￿5 expended sectlon delalls how the incoming ￿SoUrceS were spent on ¢haTitable actiwlie9. The SOFA also shows the division of resources belween restricted and unrestrlcted resources. Reslricled resoUr￿S are funds received by the charity that can only be spent In the provision of a specific seNi¢e. These types of funds typicalty stipulate how the money is lo be spent and wll have clawback clauses for unspent money. In these circumstances, Ihe charity is simply acting as an agent on behalf of the funder. Full details of the restricted projects being undertaken by the charlty can be seen in note 18 of these accounts. Unrestricted funds are thosfj funds provtded to the charity that the management and Trustees can spend as they wish. within the requirements of the objectives of the charity. Often these resources will have been paid by the funder with the agreement that the charity provide a service wilh decision as to how to allocate funds being left to the discretion of the management and trustees of the charity. The Balance Sheet (page 18) shows thè reserves of the charity as at the ¢lose of business on 31 March 2025 and 31 March 2024. This value 1$ broken down into its constituent parts, the highest of which is cash at bank and in hand. The chayity has seen a deGrease in the level of Incoming resources ftom £5.087,352 last year to £4,915,729 generated this year. This Is due largely to a decTrase in grants in preparation for the Welsh Govemment SAF recommissioning in 202&2026. The ￿11 details of this can be seen in nole 5 of these accounts on page 23. The resources expended reflect the decrease in funding decreasing Irom £4,907,419 last year lo £4,890.763 this year. The full details of how the charrty resources have been expended ?re shown in notes 6 - 10 on pages 24-25. Notes 6- 10 of the accounts shows the costs incurred by Ihe 8Ctlvitie5 undertaken during the year. Costs incutred during the year are presented as direct costs and support Costs. Direct costs are those in¢urred when delivering advice servrces to clients. These compiise mainly of staff salaries a5 well as other stsff related costs such as travel. They also inctude disbursements paid to delivery partners fhat in 2024r25 were Cltizens Advice Ynys Mon. Speakeasy Law Cenlre, Bamardo's. Care & Repair CaTdrff and Race Council Cymru. The total direct costs incurred during the year were £3,962.351 (LY.. £4,016.779). Support costs a￿ operational costs and indude the provision of offiGe spaGe and relevant equipment as wetl as management costs. The total support costs incurred during the year w¢re £928,412 (LY: £890,640). The charity has generated a surplus of £24.966 (LY: £179.933) which is comprised of both restrtcted (£20.095 surplus) arKI unrestricted (£4,871 surplus) funds. The total reserves of £1,605,131 (LY.. £1.580.165) are broken down into Iheir conslttuent parts in the balance Sheet on page 28. As at 31 March 2025 the charlty had £1.462.317 (LY.. £1,379,645) cash in the bank from which it was committed to pay £129.498 {LY". £87.696) to creditors within twelve months. The breakdown of thg creditors figure is shown in notes 14, 15 and 16. The charity was owed £60.693 (LY.. £24,478) at the year*nd whi¢h is a )Inal inslalment of income payable by project funders. The charity has experienced significant growth over the past five years with services provided not only for the Vale and Cardiff areas but also across England and Wales. The Trustees are very aware of the additional ¢ompltcation5 this growth has brought in terms of financial management. The Trustees are conffdent that sufficient Systems and controlg are in place to help the ¢harity manage these additional responsibilities. The financial health of the charity remains good and the Twstees remain committed to ¢ontinuin9 to provide easy access to advi1￿ lor the publ1¢ at a time when life is becoming more compli¢atsd. The TNstees would like b thank all the furKl8r8 for their support over the last tsvelve months. This support is espe￿allY v8luabfe in the current economic climate where our servi*s are in ever Increasing demand. CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Risk Assessment The Charity has undertaken a review of the flnancial risks it might fa¢e. The results of this review indicate that although the charity 1$ unlikely to face a sudden and major loss of funding. there remalns a risk of one of the major funders wilhdrawrng funding. The ¢harity believes that the reseNe policy needs to reflect the level of resources required to give the organisation time lo either renegotiate fvnding, seek new funding or to withdraw servi￿8 in a timely manner, causing as little damage as possible. In view of the change5 in the Charity the Trustees will review this on an annual basis. Reserves Pollcy Following the work undertaken In the risk assessment, the organisalion's designated reserve5 policy is to hold three months, unrestricted operating expenses and one month's reslricted operating expenses. On this basis, the charity 1$ required to hold designated reserves of£423.627. Totsl unrestri¢ted reseNes. including the designated reserves, currently stand at £1.532,413 of which £599,406 is invested in fixed assets. Close monitoring and a service review will be undertaken to ensure that actiwties do not deplete this level of Teserves. Investment Pollcy The charity holds a current account and an instant access savings account, both with Unity Bank along with an account with the Charities Aid Foundation (CAFI Charities Deposit Platform. The plaffomj give5 the organisation access to more than 170 interest- bearing deposit accounts. Future Plans In order to work towards our vision, aims and values, we have identified six strategic goals whith will underpin everything we do until 2Q27. Advice.. We wll improve the experience people have when they come to us for help. so everyone leaves with the knowledge and confidence they need to find a way forward. Advoc2cy'. We will be a stfonger voice on the issues that matter most to the people who come to us for help. Technology.. We will use technology to enable a great Bxperience for the people who come to us for help. while freeirw up resources that will allow us to meet mts￿ demand. Sustainabilty: We will sec#Jre our future as a service through a more collaborative, proactive and competitive approach to fundraising Equality, Diversity & Inclusion.. We will be a ¢ollaborative, innovative and high*erforming seNice that promote5 equalty, diveisity and inclusion and challenges dis¢riminatlon. Our People.. We will put employee wellbeing at the forefront of our recruitment and retention strategy. The strategic Business Plan is supported by an Operational ObJe¢tives and Progress Plan that sels out In detall the steps that we take over the next three years. This includes: Developing advrce servi￿5 to respond to the needs of our dlent$ Advocating on behalf of our clients and support Citizens Advice on national prioritie5 Developing technology to reaGh more people and empower our ctlents to lake action themselves Developing partnerships that open new opporbjnilies for funding. on5uring the sustalnability of our servi¢8 Developing partnefships lo ensu￿ our serwces are arxessible to people at greater risk of disadvantage, a$ well a$ diversfying our Wofkforce Developing a Cultu￿ that ensures our employees. wel￿beIng is a PTiorfty and they feel their voice Is heard CARDIFF AND VALE CITIZENS ADVICE BUREAU LTD Atl the work that we do in movlng towards achieving our six strateglc goals Wtll be underpinned by a number of supportlng functions". Govemance Quality assuran Perfomiance management Compliance Independent Auditors, report and Flnan¢lal Statemttnts The following are the Independent Auditors. report and financial statements including Statement of Financial Activilios and Balance Sheet for the organisation as of 31 March 2025. This report was approved by the Trustees on the 27 November 2025 and signed on its behalt by.. Jane Cla hief Executive & Company Secretary Report of the Independent Auditors to the Members of Cardiff And Vale Cltlzens Advlce Bureau Ltd Oplnlon We have audited the ftnancial statements of Cardiff And Vale Citizens Advlce Bureau Ltd (the 'Gharilable company,) for the year ended 31 March 2025 which comprise the Statement of Flnanclal AGtivities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation ts applicable18w and United Kingdom A¢¢ounting Standards (United Kingdom Generally Accepted A￿oUnting Practice). In our opinion the financial stalemenls.. give a tnte and fair view of the state of the charflable ¢ompany's affairs as at 31 March 2025 and of its incomlng re$ouKe$ and application of resources, includlng its income and expenditure. forthe year then ended- have been properly prepared in accordance with United Kingdom Generally Accepled Accounting Practice-, and have been prepared in accordance wrth the requirements of the Companie5 Act 2006. Basis for opinlon We conducted our audit in accordance with Internation81 Standards on Audtting {UK) {ISAs (UKI) and applicable law. Our responsibilities under those standards are further des¢ribed in the Audttors. responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical iequiremenls that are relevant to our aL￿1t of the financial statements in the UK. including the FRC'S Ethical Standard. and wè have fulfilled our other ethical responsibililtes in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concern In auditing the financial statements, we have eonduded that the tnistees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material unoertainties relating to events or condits'ons that, IndÉvidually or collectively. may cast signrficant doubt on the charitable company's ability to continue as a going concern for a period of at least ￿e1ve months from when the financial stalements are authorised for issue. Our responsibllilies and the responsibilities of the trustees with respect to going concern are described in the relevant sections of Ihis report. Other inforniatlon The trustees are responsible for the other information. The other information comprises the infomiation included in the Annual Report, other Ihan the financial ststements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, excepl to the extent otherwise explicitty stated in our report we do not express any fomi of assurance concllrsion thereon. In conneGlion with our audit of the financial statements, our responsibilty is to read the other inf0M￿tiOn and, In dolng so. ongider whether the other irrformation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we Fdentify such material inconsistencies or apparent material misststements, we are required lo detemiine whether this gives 17se to a material misstalemanl in the financial statements themselves. If, based on the work we have perfonned, we conclude that there is a material misstatement of this olher Infomiation, we are required to report that fact. We have nothing to report in thls regard. Opinions on other matters prescrlbed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit- the infomalion given in the Report of the Truslees for the financial year for which the ffinancial statements are prepared is consistent with the finan¢ial statements- and the Report of the Trustees has been prepared in accowjance with appli¢able legal requirements. Report of the Independent Audltors to the Members of Cardlff And Vale Citizons Advlce Bureau Ltd Matters on whlch wo are requlred to report by oxcaption In the bght of the knowledge and understanding of the charitable company and ils environment obtained In the course of the audit. we have not identified material misstatements in the Report of the Trustees. We have nolhing lo report in respect of the following matters where the Companies Act 2006 requlre$ us to reportto you If, in our opinion- 8dequate accounting records have not been kept or retums adequate for our audit have not been received from branch not visited by us- or the financial statements are not in agreement with the aG¢ounting RGords and retums" or certain disclosures of ITU8tees' remuneratlon specified by law are not made. or we have not ￿ceiVed all the information and explanations we require for our audlt or the trustee5 were not entitled to lake advantage of the sm811 companies exemption from the requirement lo prepare a Strategic Repart or in preparing the Report ofthe Trustees. Responslblllties of trustees As explained more fully in the Statement of Twstees, Responsibilities, the trustees (who are also the dire¢tors of the charitable company for the purposes of company law) are responsible ftjr the preparation of the financial statements and for being satisfied Ihat they give a true and Pair view. and for such inlemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charilable company's ability to continue as a going concem, disclosing, as applicable, matters related lo going concern and usin9 the going coneem basis of accounting unless the trustees either intend to liquidate the charitable company or to Gease operalions. or have no realistic alternative but to do so. Our responslbillties for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or eiror. and to issue and Auditots. Report that includes our opinion. Reasonable assurance 15 a high level of assurance. but is not a guarantee that an audit conducted in accordanoe with ISA'S (UK) will always detect a material misstatement when tt extsts. Mtsslatements can arise from fraud or error and are considered material rf. indNidually or in the aggregate. they could reasonably be expected to infiuen￿ the ewnomic declsions of the users taken on the basis of these financial stslemenls. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line wlth our responsibilitses, ouuined above. to detect material misstatements in respect of irregularities. including fraud. The specifi proGedures for this engagement and the extent to which these a￿ capable of detecting irregularities. including fraud is detailed below.. Enquiry of management and those charged with governance around actual and potential litigation and daims: Enquiry of entity staff to identffy any instances of nOn￿tamplIanc￿ with laws and regulations-, Performing audit work over the risk of management override of controls, induding testing of joumal entries arKI other adjustments tor appropriateness, evaluating the business rationale of signFficant transactions outside the nomial course of business and reviewing accounting estimates for bias. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulation5. Be¢ause of the inherent limilations of an audit, there Is a risk that we will not detect all Ifregularilie5, including th058 leadlng to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compltance with a law or regulation is removed from the events and transactions reflected in the finan¢lal statements, as we will be less like￿ to become aware of instances of non