Company registration number: 4334063 Charity registration number: 1091143 Exeter Citizens Advice Bureau (A cotnpany limited by guardnlce) Annual Report and Finaticia] Statements for the Year Ended 31 March 2024 Thompson Jenner LLP I Colleton Crescent Exeter Ikvon EX2 4tKF Exeter Cilizens Advice Bureydu Contents Reference and Administrntive Details ChaiV5 Report Trustees, Report 3toll Staternent of Trustees, Responsibilities 12 Independent Examiner's Report 13 Statement of Financial Activities 14 Statement of Financial A¢tivities (Prior Year) 15 Balance Sheet 16 Statement of Cash Flows 17 Notes to the Financial Statements 18to39 Exeter Citizens Advice Bureau Reference and Administrative Details Trustees H S Fowler D J Mardon K M McDonald S J Morgan J R Oliver D J Phillips G T Richardson S J SaI￿r M C Whitton S Joseph 1091143 Charity Registration Number Company Regis¢r*tion Number 4334063 The charity is incory>ornted An Eogiand and Wales. Registered Offitt Dix's Field Exeter EXI IQA Thompson Jenner LLP I Colleton Crescent Exeter Devon Accountants EX2 4t Nalw¢st Pl 59 High Stred Exeter Devon EX4 3DL Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME194JQ The CTrop¢rntive Bank PO Box 101 l Balloon Strttt Manchester M60 4EP Aldemore Bank PIC Floor, Block B Western House Lynch Wood P￿erbOroUgh PE2 6FZ Page I Exeter Citizens Advice Bureau Chair's Report for the Year Ended 31 March 2024 Having had a difficult time in 2022r23, with our long-standing CEO resigning and his replacemenl also leaving by mutual consent halfway through the year, we entered 2023124 expecting these problems to be resolved and looking forward to our new CEO commencing on 17th April 2023. However. in the middle of 2023 Exeter City Council advised the charity that their £200,(M)O per annum funding of our core services would be cancelled. There would be no fillther financial SUp￿}rt available after 31 st March 2024. Following further discussion with the Council. they agreed to a one￿ff grant of £75.0(M) for 2024125 to allow the chartty some time to transition to a new, reduced service model. This was extremely disappointing. CAB Exeter has worked with the ECC for many year5 - each year a grant was awarded to the charity for it to provide much-needed services to the people of Exeter. The charity had no prior knowledge that 2024-25 would be any different, and ECC made no effort to inforni CAB Exeter until the contract came up for review. At this time. our financial position and seryice delivery model had looked very much the same as in previous years, and our core service was operdting a5 expected. Following thi5 dramatic change in the charity's financial position, the Board deterniined that the charity would continue io provide Se￿iCe5 to clients during 2024125, whi15t we restructured the core service, reduced the cost base, attracied aliernative funding where possible, and considered whal other changes could be made to ¢ontinu¢ providing our essential services. This work h&s continued into 2024r25, and good progress h&% beel) m￿1¢. with fimding now suffi¢icnt to continue our services until al least 3 Isi December 2025. The charity expects to raise further funding during the remainder of 2024, and in 2025, to allow it to continue its vital worK albeit at a much-reduced level. Denni5 Mardoll Chair of Trustees Page 2 Exeter Citizens Advice Bureau Trustees, Report The tn￿tees, who are directors for the purposes of company law. present the annual report logether with the financial statements of the charitable company for the year ended 31 March 2024 which comply with CUTrent statutory requirements, the clwity's governing documents and prepared in accordance with A¢¢ouniing and Reporting by Charities: Ststement of Recomrnend￿ PractTrc¢ applicable io ciwities preparing iheir accounts in accordance with the Financial ReFK)rting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2(K)6. The chariry was incorFwdied on 4 D¢cember and is a company limited by guarantee, having no share apital. Trustees and offiten The trustees and officers serving during the year and since the year end were as follows: Trustee5'. H S Fowler D J Mardon K M McDonald S J Morgan J R Oliver D J Philips G T Richardson S J Salter M C Whitton S Joseph Appointed 13111123 N Trinca Resigned 11112123 L E A Pattison Resigned 27109123 R Lowe Resigned 09111123 A R Langford Resigned 191041?3 S Julyan CEO: Objectives The charity's objects ar¢ to promote any charitable purw for the public l*nefit by the advan¢¢ment of education, the proiection and preservation of health and the relief of poverty, sickness and distress in particular, but without litniiaiion, for the benefii of the community of Devon and su￿Ound1nS areas. Purp05e5 and aims The charity is a member of CitiZ￿S Advice and aims: to provide the advice people need for the problems they face to improve the w>licies al￿ practices thai affect people's lives Page 3 Exeter Citizens Advice Bureau Trustees, Report Vlslon Statement Mlsslon Statement O memb￿5 of the comnww can s(4ve the W[￿lern5 face and as a fesulL live Iwer and m O To prrylide free. Indepw￿nt confidentKIl impa￿1 advice to ebrryone on their rvjhts and responsibilities valuirrfj diversity. promoting equality and challerrfJiry discriminatiofL Strateglc (Xrtcomes Strateglc Alms Reduced social arKI fina￿101 deprivation Improved mentsl health and wellbeiry tor the Cornm￿ty C More equitsble aTxI cthesive society D. Strot¥Jer mo(e reglient communities Be accessilk for in t cornmunty fegafdless of any ba￿ler underst•Klry of the complex r of our dients Dey9n (wr services so that are more reflective of and relevant to the communities we serve D. Campaign for charwJe at a l¢xal a￿1 nati(Thl I￿1 We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objective5 and in planning our future activiiies. In panicular. the tn￿teeS consider how planned activities will contribute to the aims and objectives they have set. Pag¢ 4 Exeter Citizens Advice Bureau Trusttt5' Report How our activities d¢liver publie bellefit All our charitable activities focus on the provision of free advice to th¢ generdl public on a range of issues. including welfare benefits and credits. debt and money, housing and employmenL family issues and consumer advice. Our activities are undertaken to further our charitable pur￿)SeS for the public benefii. Largely, those benefiting from our services are those mosi in nttd. particularl>. those in financial hardship. (h national Citizens Advice fmancial monitoring lool shows the difference we made in Exeter in 2023- 24: For Lwery £1 invested in our seNice in 202Y24 we generated: £2.73 £20.88 £13.97 in savings to government and public seniices (fiscal benefits) Totsi: £1.583,229 wider economic and social benefits {public value) Total: £12,091,577 in financial value to the people we help (specific outcomes to individuals) Total: £8,087,766 Irs impossible to put a financial value on everything we do- but where we can, we have. We￿e used a Treasury-approved model to do this. From our robust management information. We￿ also separately considered the financial benefits to the people we help. We carefully monitor our clients, satisfrdction with our serrfice. The feedback we receive is vital to our planning pro¢e&s. Overall we helped 6,046 people and dealt with 20,146 different issues. 73% 83% said their problem was solved following advice said we helped them find a way forward 83% would nYommend the service Page 5 Exeter Citizens Advice Bureau Trn$tees' Report Life is complicated. Sometimes people encounter challenges and problems that they don't know how to deal with. and they need help to overcome. 9 in 10ofour clients said their problem affected their lives, includin causing anxiety an financial difficulty Principles Citlzens Advice Exeter is a client-focused organisation A ¢lienl will be given &s much time as he or she need8. bui it is recognised that this may not be &$ much time &$ he or she wants Services will be targeted iowards those who are m05t in need The quality of services offered io clients must remain demonstrably high The fmancial and structural viability of the organisalion shall be considered when introducing any new services It is recognised that new serYic¢s and initiative5 should be directed primarily at strengthening the core of the service. either structurnlly or financially Governance The charity is managed by lis TnLStee Boar¢ which is dTawn from the local community. The members are harity trustees who have a legal ￿SpOnsIbl11ty for the genernl control and management of the chartty. including financial managemeni and control. All tnLStees give their time voluntarily and receive no benefits from the charity, excepi where the board approves payments in the best interests of the charity and to enable the charity to achieve its charitable objeclives. The Tntstee Board is reswinsible for ensuring thai the charity complies with the CitiM￿ Advice Membership Scheme, charity legi51alion, and relevant company law. The maximum number of Trusl¢es shall be s¢v¢nt¢¢n and the minimum be three. being either" Elected at the annual generdl meetin& and who shall hold olTice from the conclusion of thai meeiing; cO￿Pted by the Trustee Boarl provided that on appointment the total number of co-opted Trt￿tees does not exceed one third of ihe total number of Tn￿lees. New trustees are provided with an induction pack, an initial induction progrdmme, and on-going trnining and support as required. This includes the opportunity to observe the work of the charity and briefings at Board meetings on are&8 of the charity's work. The charity also uses a tnjsiee self-review and skills audit process which provides an OPFK•rtunity lo review knowledge and idenlify learning and development needs. FurtheThore. Citizens Advice provides a programme of training for Dew and existing rustees. 21n3 say they had difficulty knowing who to contact or how systems work before advice 41n5 experienced a shock or life event before their problem Page 6 Exeter Citizens Advice Bureau Trustees, Report Managemenl The day to day running of the charity is delegated to the Chief Executive and the leadership team, conslsting of: sl￿anne Julyan - Chief Executive Lyndsay Jarnwi - Assistant Chief Executive Vicloria Tate-BrowTh- Executive Assistant Kathy Underwood - Operations Manager Adminiltration Administration within the charity is suP￿rted by a dedicated team of athninistrative volunteers who undertake tasks such &$ opening post, filin& data input and photocopying. We pay tribute to our administrative volunteers for their continued support and dedication io our work during these challenging lime5. Who used and benefited from our services. The charity has a dropin service. We offer telephone and digital advice and inforn)ation services. Over the past year, we have continued to work with other Citizens Advice offices nationally delivering a telephone advice service. Without the Contrib￿lon of volunteers, our generalist advice and information service would not nm. During the year, they have given in the region of 28.860 hours of iitne through regular volunteerin& or equivalent to 15.8 full-time equivalent sLiff members, or some £431.679 in value. In addiiion. this year we were delighied to welcome 9 new volunteers. The Board wish to thank the many volunteer5 who ensure the continued operation of the charity by donating their time and experience during ihese challenging times. During the year. 4 volunteers left; I to tske paid emplo)ThenL I to altend tralninyjfi￿er education and I for personal reasons. This demonstrdtes the excellent in-hoiLse training support offered ￿ our VOIL￿￿erS. The new skills and experien¢¢ gained whilsi volunieering are clearly valued by employers. Clieni Profile Of the clients who used the services of the charity during the year, over 760A were under 65 years of age. 6￿/0 were female, 87010 of ¢li¢nts' ethnicity was white and 7?•/0 were disabled or living with a long-terni health condition. Advice Needs thwing the year, the charity assisted 6.￿0 Clients dirertly with their advi¢¢ needs. itivolving 20.146 individual issues. Page 7 Exeter Citizens Advice Bureau Trusttts, Report The demand on our advice services. by issue, w&$ as follows: Grnnd .201&19 2019aO 2020U1 2021a2 2022a3 202324 To&71 Beneffts & lax credits Beneffts Universal Cre(Ii I Charitable I Support & F￿)d Banks Consumer g)od5 & ser¥ices Debt 9606 9332 7180 7474 7812 7836 49240 1120 4335 4319 7245 2539 2318 876 516 550 1066 505 475 467 2514 4790 2208 1665 1899 47 532 17496 317 51 41 1234 Employment Finanaai I seNices & 1227 758 308 316 1798 GVA & Hate rime ,, Healh & 190 158 110 78 78 132 746 365 311 287 Ini Hou￿n9 -. & | asylum Legal 1182 1163 1306 1456 1650 7699 272 328 153 215 176 234 1318 267 1133 357 fAS 336 538 2213 8286 2319 1196 Relationships & famity %0 832 693 641 592 502 4220 '.187 218 187 Tiavel & transport 226 214 199 189 327 1344 communicabons ' Grdnd Total 779 1483 2611 2317 8341 24132 2T070 20690 24196 136865 As Can be seen from the figures above, the chariry continues to put the majority of its resources toward8 welfare benefits and debt issues, with these caiering for over almost 650/0 of our current client issues. Given the uncertain economic climatr for many of our clients amid the cosl of living crisis. we eXp￿t to see continuing high levels of money and debt enquiries as household finances remain challenging for our clients. We already identify clients who can use other national free debt providers &$ the volume of enquiries is not manageable wtthin our resources. However, that does mean that the charity tends to retain the most vulnerable clients or those with high support needs. During the year. our clients presented with £908.61K) in debts. Furthernjore, we have achieved some £4rn of financial gains for our clients. We have assisted defendants in court who are in danger of losing their rented or mortgaged home. This is a high pressure Situation. with a limited period of time to get the full detsils from the defendant. discuss the situation with the landlord or lender, help to get an agreement in place and then go into court with the defendani and speak on their behalf. In complex cases we occasionally request an adjournmenL so that the defendant Can be rcfcrred to a housing lawyer. Page 8 Exeter Citizens Advice Bureau Trustees, Report We offer all defendants a prearranged telephone call from Citizens Advice Exeter. and this will be followed up by any advice appointments the client needs. Numbers of housing cases lisled ai Exeter court are high and increasing. Housing enquiries made by Exeler residents across the 23124 year fornied 80/0 of all our enquiries. and we expect evictions in particular io rise significanily due to the massive rises in rents and mortgage interesi rates. We pay tribute to our volunteer advisers. gateway assessor5 and infornwtion guides for their continued support and expertise during the challenges of the lasl year. Digiial During the year. the charity has assisied additional clients by supporting 17.948 of websiie visits Research. campaigns andprevention Our work is not just about advice and infonnation s¢rvi¢¢s. We work hard to campaign for changes in policies and practices that affect large sections of the populatio￿ based on the experiences of our clients. We also deliver preventative measure& including kam Awareness and Gambling Harni, to ensure that people have skills and confidence. We offer friendly and inforn￿l sessions designed to help everyone, no matter what their level of money knowledge or capability. Our trained staff and volunteeTS are able io cut through the jargon and p&55 on valuable tips which can really make a difference to people's lives. During the year the chariry provided trnining courses or engagement events benefiting over 100. We pay tribute to our research and campaigns. and training, volunteers for their continued support and expertise. Strategy Cosi of Living Crifif We will work with our clients. local parthers and national Citizens Advice to ensure that our services meet the challenges and uncertainlies and that our evidence is used to develop Governmeni policy to support those affected by the cosi of living. We will work with local partners lo support with the predicted increase in the demand for our services and the increased complexiry of ihe issues thai clients preseni. Although the health ernergency of Covid has diminishe the financial and employment related issue5 will last for many months afterwards. This cross- cuttin8 theme is embedded across the following straiegi¢ objectives.. ic Priorities 2024-25 St This straiegy and the supporting b￿lnesS developmeni plan will be used to guide the charyty's development over the coming years. Financi*l review The charity has been able to operdle within its planned budgets. However, the future fllwicial Clima￿ will mean that the charity will face a more difficult and challenging opernting environment going forward. Page 9 EIeter Citizens Advice Bureau Truslees, Report During 2023124 the charity h&8 designated sorne £157.112 of reserves to support additional sta(Ting as part of our Coronavirus recovery planning. The charity has benefited from grants and Contracts from Exeter City Council and tkvon County Council (via Citizens Advice Devon), and others. which h&s enabled the conlinuation of geftera1i￿ telephone and face-to-face advice and iDfornation services by our volunieer ieam. supported and managed bj paid staff. In addition. the charitv has again successfully delivered the following projects and services in addition to the generdlist advice and infomlaiion service". ABC: Fl￿ding from Devon County Council for a Carers appeals servic¢ Carers Advtce on Bellefils: A contrnctual arrangemenl with Citiz£ns Advice Devon (fimded by tkvon Carers) to provid¢ addilional advice servtces for adult carers of all ages. Citizens Adviee COL grant: Funding from national Cilizens Advice for supporting clients with the cosi of living. Mone). was used to maintain the drop-in and increase outreach. Ikvon Growing Communities Fund: Funding was used to enhance outrea¢h OPPOTtLmities in the community. Energy Outreach Project: Funding to deliver energy advice and inforn]ation in an outreach setting to consumers Energy Advice Programme: Funding io deliver specialisl energy advice. Eieler Foodbank: Funding SUp￿rtIng Exeter Foodbank clients with benefits mlximisation and to manage their debts with a view lo them becoming less reliant on the foodbank. Nation41 Lotterv Awards (or All: Funding from the National Lottery Community Fund for IT and equipment Action for Children: A contractual arrangement with Citizens Advice Devon (funded by A¢tion for Children) to provide advice services in local Children's Centres. Ciliz¢n$ Advice Torbay: Income received to provide a shared management function across both Exeter and Torbay Citizens Advice charilies. Exeter and District Multiple Sclerosis Society: A contractual arrangement fimded by Exeter and District Multiple Sclerosis Society lo provide welfare benefits advice to people living with multiple sclerosis. We operaie this project on an outreach basis. This contraci employs one pan-iime welfare benefits adviser. Exeter and Distriet Kidney Patients. Association: A contractual arrangement fimded by Exeler and District Kidney Paiients. A5SOCiation to provide welfare benefit advice to pre￿lalySIs, dialysis and transplant patients and their carers. This contract employs one part-tlme welfare benefits adviser. Macmillan Cancer Support: Funding for a holistic welfare benefits. employm¢nL housin& debi and general advice service for people affected by cancer. Exeter Cit). Council Ukraine Support: Advice and Infonnalion project for Ukrainian Nalionals National Lottery Cost of Living: Funding was ￿sed io maintain the drop in and io lucre￿ our Capacity 10 offer specialist debt advice. Reserves policy The charity. being mindful of Charity Commission guidance. aims to maximise the use of available funds for the benefit olthe citizens of Exeter and the surrounding area 50 far as is commensurate with a prudent level of unrestricted reserves. equivaleni to & leasi three months, nmning costs. The total unrestricted r¢s¢rY¢s at 31 March 2024 w&s £286,732 In this regarf our policy is to set aside fun(ts only for knowm or probable liabilities. Ipwesimenipowers The constitution authorises the tr￿￿e¢S io tnake and hold investments llsing the general fimits of the Charity. The charity currenily holds £84.185 in a l-year f￿ed terni IM)nd. Subsidiary underiakings The charity has one wholly owned non-charitable subsidiary undertaking registered in England and Wales, called Exeter Ciltzens Advice Bureau {SerYices) Limited registered company number 06561932. The company is incorpordted. The aim of the company is lo raise incorne for the charity for charitsble activities. There have been no trading aciivities in the1&8t year. Page 10 Exeter Citizens Advice Bureau Trustees, Report Rigk management Our Resources Conunittee is r￿1￿1¢ for advising the tsith board on the effective management of risk and for lllaking sure that internal controls are in place and operating &s designed As part of our on-going risk &%sessment process, our risk managemcnt strdtegy and policies are revi¢wed and agreed by the Resources CoLomittee each quarter. We operate a robust system of internal financial controls which is fully compliant witb Charity Commission guidance and go(Kl practice. UK General Data Proteclion Regulthiop As part of its responsibilities, the Resources Committee continues to ensure that thc charity complies with the UK Genera[ Data Protection Regulations and that the confidentiality. integrity and availability of all our data &wts is maintsined to a level wbich is CODSiStent with the tequiments of the UK General Dats Protection Regulations. Future plaDJ The trustee board continucs to be convinced that the work th* the clwity does, and the servicc& it provides. are c￿￿la1 elements in ensuring that those most in need are supp)rt¢d in accessing their rights and eThtidements. Without the charity. many clients would have nowhere to go and n(wne to help them with th¢r problems. With local Councils being fllwieially stretched at the present time, the T￿￿tee$ are Iwking for alternative 50ur¢es of income during 2024r25 In terll￿ of external. and other factots that the ¢knity is planning for, these include: Collaboration.. We will continue to collaboratr more widely with other local Citizens Advice offices in Devou through Citizens Advice Devo￿ and through our paTtsw5hip with Citiz£ns Advice Torbay, with other local advice agencies and with other cl]arities who Deed our advice services enabling us, other organisations and more clients to benefit from wntracting aTfdng¢rn¢nts in the futurc and to provide a client focused service to the reqidents of Devon. Digitsl Services: We will continue to promote on-line and telephone belpline s¢rvices as our prcftrred method8 for fjrst contact in order to maintain more intensive Se￿iceS for Ihose clients in greatest need or with the m05t complex situations The annual Teport was approved by the trustees of the¢harity on..21: IL U+ . and signed on its beI￿lf by: D J M8rdon TnL8tee S J Morgan Trus*e Pagell Exeter Citizens Advice Bureau Statement of Trustees, Responsibilities The trustees (who arc also the directOTS of Exeter Citizcns Advice Bureau for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Unfftted Klngdom Generally Accepta Accounting Praeticc), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepaff financial statements for financial year. Under company law the thJst¢cs must not approve the financial statements unless they are satisfied that they give a true and fair view of the sta* of affairs of the cbaritable company and of the incoming resource5 and application of resources. including its income and expendilure. of the charitable company for that period. In preparing these financial statements, the tr￿teeS are required 10.. select suitabl¢ accounting wlicies and apply them consistenlty. observe the method8 and principles in the Charities SORP; make judgements and estimates that are reasonable and prud¢DL state whether applicabl¢ accounting standards. ¢omprising FRS 102 have been followe￿ subject to aDy material deparlures disclosed and explained in the financial statements" and prepare the financial statements on the going concern basis unless it is inapF)ropriatc to presume that the charitable company will continue in business. The tnJste¢s ar¢ responsible for keeping proper accounting records that can disclose with re&sonable accurncy at any time the financial position of the C￿￿ritable company and enable them to ensure that the fmancial statements comply with the Companies Act 2006. They are also responsi￿1¢ for safeguarding the assets of the charitable company and hence for taking re&sonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the Corporate and financial tnfom]ation included on the charitable companys website. l£gislation governing the prepardtion and dissemination of financial statements may differ from legislation in other jUTisdiclions. Approved by the trustees of the charity on..1i.. It 1.4... and signed on its behalf by: D J Mardon Trust S J Morgan Trustee Pag¢ 12 Exeter Citizens Advice Bureau Independent Examiner's Report to the trustees of Exeter Citizens Advice Bureau ('the Company,) I report to the chariry trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilitie5 and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the prepardtion of the accounts in accordance with the requirements of the Companies Act 2￿6 ('the 2006 Act.). Having satisfied my5¢1f that the of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respe￿ of my examinaiion of your charity's account5 &5 carried out under section 145 of the Charities Act 2011 ('the 2011 Act.). In carying out my examinalion I have followed the Directions given by the Charity Commission under section 145(5Xb) of the 2011 Act. Independent examiller's ststement Since the Company's gross income exceeded £250,0￿ your examiner must be a member of a body listed in seciion 145 of the 201 l Act. I confinn that l am qualified to undertake the examination because l am a member of The Associalion of Chartered Cenified Acc0unL￿1$. which is one of the listed FKKlies. I have completed my examination. I confirm that no matteTS have come to my attention in connection with the eL￿ninatIOn giving me cause to believe: l. accounting records were not kept in reSp￿t of ExeleT Citizens Advice Bureau as required by se¢tion 386 of the 2006 Aci- or 2. the accounts do not accord with those rffords. or 3. the accounts do nol comply with the accounling requirements of section 396 of the 2006 Act other than any requirement that the accounts give a "true and fair view, which is not a matter considered &8 part of an independent examination. or 4. the a¢¢ounts have not been prepared in accordance with ihe methods and principles of the Statemenl of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their ac¢ounts in accordance with the Financial Reporting Srandard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be r￿h¢d. Dave Tucker FCCA The Association of Chartered Certified Accountants Thompson Jenner LLP I Colleton Crescent Exeler Devon EX2 4DG Page 13 Exeter Citizens Advice Bureau Statement of Financial Activities for the Year Ended 31 Mareh 2024 (Including Income and Expenditure Account and Stydtement of Total Reeognised Gains and Losses) Unrestricted fund5 Restrirted funds Total 2024 Not¢ Income and EDdowments from: Donalions and legacies Charitable activities Investment income 304.451 39.756 4,811 304.451 361.096 4.811 321,340 Totsl Income 349,018 321.340 670,358 Expenditure OD: Charitable aclivili¢s (333,2421 {321.340) (654,5821 Total Expenditu (333,242) {321.340) (654,5821 Net movement in fimds 15.776 15,776 R¢roneiliation of funds Total funds brought forward 270.956 270,956 Total funds Ca￿led forward 21 286 732 286.732 All of the Clwitys activities derive from continuing operntions during the above periTrl. The noies on pages 18 to 39 fo￿ an integrdl part of these fmancial statements. Page 14 Exeter Citizens Advice Bureau (Registration number: 4334063) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets Iriveslments 13 14 Current assets Debtors Investments Cash ai bank and in hand 15 16 17 22.767 84.185 278.590 30,564 81,743 243.307 385,542 355.614 Creditors: Amoullts falling due within one year 18 (98.8111 {84.6611 N¢t currcnl &55ets 286.731 270.953 Net assets 286 732 270.956 Funds of the tharity: Ullrestri¢ted income funds Unrestricted funds 286.732 270.956 Total funds 21 286 732 270.956 For the financial vear ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companles. Direaors, resp)nsibililies= The members have not required the charity to obtain an audit of its acC(H￿ts for the year in question in a¢¢ordanc¢ with section 476; and The directors acknowledge their resFK)nsibilities for complying with the requirements of th¢ Companies Act 2006 with resw to accounting record8 and the preparation of accounts. cial sta￿rnents on pages 14 to 39 wer¢ approved by the truste¢s. and authorised for issue on . and signed on their behalf by: D J Mardon Truste¢ S J Morgan Trustec The notes on pages 18 to 39 forni an Inte￿ P￿ of these financial statements. Page 16 Exeter Citizens Advice Bureau StYdtemeDt of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Prior ycar tomparxtivt UDrestrirttd fund5 Restricttd funds Total 2023 Not¢ lllcome aDd EndowtDents from: Donaiions and legacies Cbarilable a￿1VItIeS Investment income 278.551 73.393 1,824 278,551 286.055 1.824 212,662 Total income 353.768 212.662 566.430 EIpenditure on: Charitable acttvities (366.053) 1212.662) {578.7151 Totsl cxpcnditu (366.053) 1212.662) (578.715) Net expenditure Trdnsfer5 betw¢¢n fimds (12,285) 672 (12,285) (672) Net movement in funds (11.613) (672) {12,285) Reconeilialion of funds Total fi]nds brought fonyard 282.569 672 283.241 Total fimds C&Tied forward 21 270 956 270.956 All of the charity's a¢tivilie5 derive from continuing operntions during the above period. During the year, the Charity has utilised brought forward designated funil8, specifically the post pandemic recovery fund a fijnd to be used for additional advice capacity and stsffing as the charity move in to the recovery phase of ihe pandemic. io cover budgeted expenditure incurred in the current year &8 part of the conlinued delivery of charitable objectives. The funds breakdo￿Tr for 2023 is shoMTr in note 21. The notes on pages 18 to 39 fonn an inte￿1 part of these fuwicial stalements. Page 15 Exeter Citizens Advice Bureau Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note Cash flows from operating activitie5 Net cash incomel{expenditure) 15,776 (12,285) Adjustments to tash flows from non-easb items Investment income {4,8111 (1.8241 10,965 (14,1091 Working eapitsl Jdjus¢ments Decrease/(increase) in debtOTS Incre&8e in creditors (Decreaseyincrease in deferred income 15 18 7.797 41.090 (26.9401 (17,4221 27,778 27,574 Net cash flows from operating activities 32,912 23,821 C*5h flows from investing aetivities Interest receivable and similar income Sale of tangible fixed &ssets 4.811 1,824 Net cash flows from investing activities 4,813 1.824 Incre￿ in wh and ¢ash equivalents Cash and ¢￿h ¢quival¢nts at l April 37,725 25,645 325.050 299.405 Cash and cash equivalents at 31 March 20 362 775 325.050 All of the cash flow5 aTe dwiv¢d from ¢ontinuing operations during the above two peri(*Js. The notes on pages 18 to 39 forni an integral part of these financial statements. Page 17 Exeter Citizens Advice Bureau Notes to the Finaneial Statements for the Year Ended 31 March 2024 I Charity status The charity is a charity limited by guarantee. incorporated in England and Wales. and consequently does not have share capitsl. Each of the trustees 15 liable to Contribute an amount not exce¢ding £ I towards th¢ assets of the charity in the event of liquidation. The address of its registered o￿l¢e and principal place of busines5 15: Dix's Field Exeter EXI IQA 2 Aceounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparatton of these financial slatements are set out below. These policies have been consistenily applied to all the years presented unless otherw'ise sthied. Ststtment of eompliance The financial statemenls have b¢en prepared in accordance with Accounting and Reporting by Charities.. Statement of R￿OrnMended Practice (applicable to chariiies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in (ktober 2019) - (Charities SORP {FRS 102}), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. B*si$ of preparation Ex¢l¢r Citizens Advice Bureau meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cos1 or trdnsartion value unless otherwise stated in the relevant accounting policy note(s)- Going concern As summarised in the Chainnan's (and Trustees,) RepoTL there have been cuts to government funding which have had a significant impact on the local authority (in common with rnany parts of the UK), and in turn on the charity's income for the next financial year, 2024-25. EXe￿r City Council (ECC), whilst continuing to be supportive. has not renewed the contract for service5 provided by the charity, which previously brought income of £200,000 per annum. ECC has however granted a one-off interim award of £75,000 for 2024-25. This financial situation will inevitably impact on the services that the charity can provide in the futtwe. The Board of the charity has prepaffd a budget for 2024-25, which is dependent upon the maximisation of income from other funding sources, and on the reduction of costs wherever possible. As a number of these actions relate io futttre events. there is inevitably material uncthainty about the outcomes, however the Trustees are Confident that the charity ¢an continue in some forni although the services provided by the charity will potentially be restricted. As at 3113124. the charity had unrestricted reserves of £287L which will be uiilised in part to support the operation of the charity for at least the nexi 12 months, as it seeks to reshape and reprioritise resources. Given that these reserves exisL and there are plans to increase in¢om¢ from other sources and to reduce costs, the Trustee5 consider it appropriate for the Financial Statements to be prepared on a going concern b￿15. Group accounts Dot prepared The financial statements present infonnation about the charity as an individual undertaking and not alK>ut its group. Page 18 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 Exemption from preparing group accounts The chariry has taken advantage of the exemption in section 398 of the Companies Act 2W6 from the requirement ￿ prepare consolidated financial statements. on the grounds that it is a small sized group. Income ¥nd endowments All income is recognised once the charity has entitlement to the income. it is probable that the income WRII be received and the amount of the income receivable can be measuTcd reliably. Income is shown net of sales/value added t￿ rellm￿ and discounts. Donations qndlegaei Donalions are recognised when the charity has been notified in WTiting of both the amount and settlement date. In the event that a donation is subjeci io conditions that require a level of PerfO￿nanCe by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditlons are fully meL or the fulfilmeni of those Conditions i5 wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting perio(L Grants reeeivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grdnts have been met. Where perforn]ance conditions are attached io the grdnt and are yei to be met, the income is recognised &s a liability and included on the balance sheel as deferred income to be released. Deferred Iheon Deferred income represents amounts received for future periods and is rele￿ to incoming resources in the period for whicty it has been r¢ceived. Such income is only deferred when: - The donor specifies that the grant or donation mu5¢ only be used in firture accounting periods; or - The donor has imposed conditions which must be met before the charity h&s unconditional entitlemenl. Expellditure All expenditure is recogDised once there is a legal or constructive obligation io that expenditure. it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregale similar costs to thai category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of reSOu￿¢s. with central stsff costs all￿ated on the basis of time sp¢nL and depreciation charges allocated on the portion of the asset's US¢. Other support costs ar¢ allocated based on the spread of staff costs. Charilable aclivilie5 Charitable expenditur¢ Comprises those costs incurred by the chariry in the delivery of its aclivities and services for its beneficiaries. li includes both costs that can be alloCa￿d directly to such activiti¢5 and those costs of an indirect nature necessary to support them. Support Costs Resources expended are allocated io th¢ particular charitable aclivity where the costs relate directly to that actiyity. The cost of overdll direction and athninistration of each activity is apportioned to each ¢haritable activity on an appropriate b&sis. Governance costs These include the ¢05ts attributable to the charity'5 compliance with constitutional and statutory requirements. including audit, strategic managemenl and IT￿te¢S meetings and reimbursed expenses. Page 19 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 Government grants Government grants are recognised based on the acen￿l m(NJ¢l and are measured at the fair value of the as5el received or receivable. Grdnls are classified as relating either io revenue or to assets. Grants relating to revenue are recognised in income over the peri(Kl in which the related costs are recognised. Grants relating lo assets are recognised over the expected useful life of the asset. Where part of a grdnt relating to an asset is defeTrd it is recognised as deferred income. Taxation The charity is considered to pass the iests sei out in Paragrdph I Schedule 6 of the Finance Act 2010 and therefore li meets ihe definition of a charitsble company for UK corrM)rntion tax purposes. Accordingly, the charity is potentially exempt from tsxation in respect of income or capital gains received wiihin categories covered by Chapter 3 Part I l of the Corwiration Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the ex￿nI that such income or gains are applied exclustvely lo charitsble purposes. Tangible fixed aMets Individual fixed assets cosling £ I.000.(M) or more are initially recorded at cosL less any subsequent accumulated depreciation and subsequent accumulated impairn]ent losses. Depreeiatioll and aMorti￿tion Depreciation is provided on tangible fixed assets so &8 io *Tiie off the cost or Valuatio￿ less any estimated residual value, over their expected ￿ful economic life as follows: Asset class Fixiures. fitttngs and equipment Depreeiation method and rate 5 years straight line basis Strdighi line basis over the life of the lease Le&8ehold improvements Current asset investments Current asset investments are included at the lower of cost and net realisable value I markel value. Trade debtor5 Trade debtors are amounts due from customers for services perfornied in the ordinary wur5e of business. Trade debiors are recognised initially at the transaction price. They aTe subsequently me&8ured at amortised cost using the effective interest method. less provision lor impairnient. A provision for ihe impairnlent of trade debtors is established when there is objeclive evidence thai the Charity will not be able to collecl all amounts due according to the original tern￿ of the r￿e1vable$. Cash and Cash equivglents Cash and c&sh equivalents ¢ompris¢ rash on hand and call deposits. and other short-ierm highly liquid investments that are readily convertible lo a known amount of cash and are subjea to an insignificant risk of change in value. Page 20 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 Trade creditors Trade creditors are obligations to pay for good8 or services that have been acquired in the ordinary Course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, al the end of the reporting period io defer settlement of the creditor for at least Iwelve months after the reporting date. If there is an unconditional right to defer settlemeni for at least twelve months after the reporttng da￿. they are presented as non'able in accordance with the rnles of the scheme. Finanei*l instruments Classificafton Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any Contra￿ thai evidences a residual inteffst in the wets of the charity after deducting all of its liabilities. Recognilion and measuremenl The Chartry only has financial assets and financial liabilities of a kind that qualify as basic financial instnllnenls. Basic financial instruments are initially recognised at trdnsaction price and subsequently measured at their settlement value. Inveslments Investments in subsidtaries and associates are measured at cost less impairn)ent. 3 Ineome from donations and legaeies UDrtstritted funds Generwl Total 2024 Totsl 2023 Donations and legacies: Donations from indtviduals Grants, including capttal grdnts" Government grants 29,024 29.024 15.324 275.427 275.427 263.227 304.451 278,551 Page21 Exeter Citizens Advice Bureau Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024 4 Income from charitable 8¢tivitits UDrestricled funds Genernl Restricted funds Total 2024 ABC Income Action for Children CAB Project Centurion Citizens Advice Torridge, North, Mid and West Devon in partnership with Macmillan Citizens Advice Cost of Living Grant Devon Advice Services for Working Age Carers Devon Growing Communities Fund Empower Energy Advice Programme Energy Outreach Project Exeter City Council Ukraine Supp)rt Ex¢t¢r & District Kithiey Patients Association Exeter & District MS Society Exeter Foodbank National Lottery Awards for All National Lottery Cost of Living granl One Devon Torbay CA Management Income 12,5(M) 13,1(A) 24,3(K) 12.500 13,190 24.31)0 1,684 69,248 15,IXKI 33,IX15 69248 15,000 33.005 711 22,050 1,750 711 22,050 ,750 12,160 9,556 16.356 6,247 9,993 67,713 ,750 42,883 12,160 9.556 16,356 6,247 9.993 67.713 1.750 42.883 39.756 321,340 361,096 Page 22 Exeter Citizens Advice Bureau Notes to the Finaneial Statements for the Year Ended 31 March 2024 Ullrestri¢t¢d funds General Restrieted funds Totsl 2023 Action for Children Arnold Clark Big Energy Saving Network CAB Project Carbon Monoxide Advice Proje Carers Income Maximisation Carers Income Maximisation Partner Payments Centurion Ciiizens Advice Torridge. North. Mid and West Devon in partnersbip with Macmillan COMF Fund Citizens Advice Torbay Devon Advice Services for Working Age Carers Empower Energy Advice Progrdmme Exeler City Council Ukraine Support Exeter & District Kidney Palients Association Ex¢ler & District MS Swiety FORCE Cancer Charity Macmillan 10,500 10,500 875 14,759 8.725 37,700 16.798 875 14.759 8,725 37,700 16.798 9,839 9,839 28.611 28.611 18,608 31,975 30,176 8.515 10.(x>o 14,976 9.192 15,880 3,898 14,028 18,608 31.975 30,176 8.515 10.O(M) 14.976 9.192 15.880 3.898 14.028 212.662 286,055 5 InvestmeDt incojne Unrestricted fynds General Totsl funds Interest receivable and similar Income: Interest receivable on bank deposits 4.811 4,811 Total for 2024 4,811 Total for 2023 1.824 Page 23 Exeter Citizens Advice Bureau Notes to the Financial Statements for tbe Year Ended 31 Mareh 2024 6 Expenditure on cbaritable activities Unres¢ri¢t¢d fund$ DesigD4led Gellernl Restricted funds Total 2024 ABC Income Action for Children CAB Proje Capitsl Premises Fund Centurion Citizens Advice Cost of Living Grant Ciiizens Advice Torridge, Nor Mid and West Devon in parlnership with Macmillan Core service fimd tkvon Advice Services for Working Ages Carers Devon Growing Communities Fund Empower Energy Advice Programme Energy Outreach Project Exeter City Council Ukraine SuptK)rt Exeter & District Kidney Patients Association Exeter & District MS Society Exeter Foodbank IT Replacement Fund National Lottery Awards for All Grant National Lottery Cost of Living Grant One Devon ToTbay CA Mangement 12.500 13,190 24.3IXI 12,500 13,190 24,300 3.925 3,925 15,OIXI 15,OC(I 69.248 69,248 288.087 288,087 33,￿5 33,005 711 22.050 1,750 22.050 1.750 12,160 12,160 9,556 16,356 9,556 16,356 6.247 1,514 6.247 1,514 9,993 9,993 67,713 1,750 42,883 67,713 1.750 42.883 Total for 2024 327,803 321,340 654.582 Page 24 Exeter Citizens Advice Bureydu Notes to the Financial Statements for the Year Ended 31 March 2024 Unrestricted funds Designaied General Restricted funds Total 2023 Action for Children Arnold Clark Big Energy Saving Network CAB Project Capital Premises Fund Carbon Monoxide Advice Project Carer5 Income Maximisation Carers Income Maximisation Partner Payments Centurion Citizens Advice Tort>ay Citizens Advice TorrÉdge, North, Mid and West Devon in partnership with Macmillan Core service fund Devon Advice Services for Working Ages Carers Empower Energy Advice Programme Exeter City Council Ukraine Support Exeter & District Kithiey Patients ASs￿la110n Exeter & District MS Society FORCE Cancer Charity Hazel Ball Memorial Fund Innovation Fund IT Replacement Fund Macmillan Sickness Fund 10.5(M) 10,500 875 14.759 875 14.759 4,130 8.725 37,700 4,130 8.725 37,700 16,798 16.798 9,839 31,975 9.839 31,975 28,611 28.611 302,002 302,002 30.176 8.515 iO,OCK) 30,176 8,515 10,(x)o 12,672 12,672 9.192 15,880 3.898 9.192 15,880 3,898 30 2,996 3.571 14.028 30 3,571 14.028 Total for 2023 354.483 212.662 578.715 Page 25 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Yegr Ended 31 March 2024 7 AnAIysis of goverDance costs Governance costs Unrestricted funds Gtneral Totsl funds Independent t￿￿liner fees Examination of the financial statements Depreciation, amortisation and other similar costs 2.820 2.820 Totsl for 2024 2,822 Total for 2023 2,820 8 Net incomingloutgoing resources Net in¢ominyJoutgoing resources for the year include.. 2024 2023 Loss on diswwl of fixed assets held for the charity5 own iLS¢ 9 Tru5tee5 rtmutter*tion attd expenses No Irustees, nor any persons connected with them. have received any remuneration from the charity during the year. Trustees were reimbursed a total of £514.61 (2023: £261.98) in relation io reclaimed expenses during the year. No tr￿sleeS have received any other benefits from the charity during the year. Page 26 Exeter Citizens Advice Bureau Notes to the Finydncial Statements for the Year Ended 31 March 2024 10 Sialr costs The agg￿gate payroll costs w¢rt follows: 2024 2023 Stsff eosts during tbe ye*r w¢re: Wages and salaries Social ￿UrIty costs Pension costs 427,307 35.753 11.956 369,508 31.577 10.508 475016 411.593 The monthly average nurnber of peTsons (including senior managem¢nt tram) employ￿ by the charity during the year was as follows: 2024 2023 Charitable activities 19 19 13 (2023 - 12) of the above employees participated in the Defined Contribution Pension Schemes. During the year. the charity made redundancy an(Vor termination payments which totalled £Nil (2023 - £3.757). Pension costs are allocated to a¢tiviti¢s in proportion to the relaied staffing costs incurred and are wholly charged io unrestricted funds. No employee received ernoluments of more than £60,(KK) during the year. The lotal employee benefits of the key managemenl perS(v￿cl of the charity were £112,236 (2023 - £108,065). I I Independent eLgminer's remuneration 2024 2023 Examination of the fmancial statements 2,820 Page 27 Ex¢t¢r Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 Mareh 2024 12 Taxation The charity is a registered charity and is thettfore exempi from taxation. 13 Tangible fixed assets ikasehold improvements Furniture and equipment Total Cost At l April 2023 Disposa15 103,911 (103,911) 68,302 (68,3021 172.213 (172,213) At 31 March 2024 Depreciation At l April 2023 Eliminated on disposals 103.910 (103.9101 68.301 (68,3011 172.211 (172.211) At 31 March 2024 Net Imjok value At 31 March 2024 At 31 March 2023 Included within the net Imwk value of leasehold improvements above is £Nil (2023 - £Nil) in respect of freehold land and buildings and £Nil (2023 - £1) in respeci of leaseholds. 14 Fixed asset investments 2024 2023 Share5 in group undertakings and participating interests Page 28 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 Shares in grnup undertakings and participating interests Subsidigry uLd¢rtaking$ Totsl Cost At l April 2023 At 31 March 2024 Net book value At 31 March 2024 Ai 31 March 2023 Detsils of yDdertaking5 Details of the investments in which the charity holts 2￿/0 or more of the nominal value of any class of share capital are as follows: Proportion of voting rights and shares beld Country of incorporation Undertakin% Holding Prin¢ip41 a¢tivity Subsidiary undertakings Exder Citizens Advice Bureau (Services) Limited Dix's Fi¢ll Exeler. EXI IQA England & Wales Ordinary ICrfY/• Dorniant 15 Deblors 2024 2023 Trade debtors Prepayments 17,421 5,346 27.029 3.535 30.564 16 Current asset IDvestmeDts 2024 2023 Fixed terni bonds 81.743 Page 29 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 17 Cash and cash equiv4kllts 2024 2023 Cash on hand C&sh at bank 462 278.128 1,222 242.085 243,307 18 Creditors: anioiillts falling due within oDe year 2024 2023 Trade creditors Other thxation and social security Other creditors Pension ￿hem¢ creditor A¢¢ruals Deferred income 40,229 9.249 30,458 2.722 4.020 12.133 1,881 8,246 27281 1,254 6,926 39,073 84.661 2024 2023 D¢f¢rred incom¢ at l April 2023 Resources deferred in the period Amounts released from previous FKriod5 39.073 12.133 (39,073) 11.499 37,475 (9.9011 Deferred income at year end 39,073 Page 30 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year EDded 31 March 2024 19 Pension and oiber schemes Defined eontribution pension seheme The charity operdies a defmed contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £l1.956 (2023 - £10,508). 20 Analysis of net funds At l April 2023 FiDgD¢illg ￿5b flow5 At 31 March 2024 C&5h at bank and in hand Current a&8et investments 243.307 81.743 35.283 2,442 278.590 84.185 Net debt 325 050 37.725 362.775 At l April 2022 Finaneing casb flows At 31 Marcb 2023 Cash ai bank and in hand Current asset investments 218.748 80.657 24,559 1.086 243,307 81.743 Net debt 25,645 325,050 Page31 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 21 Funds Balance at April 2023 Ineoming resour¢es Resources expended Balanee At 31 March 2024 Tr#nsfers UnreJtrl¢ted fundj General Unrestricied funds 71,765 349,018 (327,8011 77,095 170,077 De.Il%naled Advi¢c for Lkf¢ Capital Premises Fund Client Medical Support Fund Hazel Ball Memorial Fund Innovation Fund IT Replacement New Premises Depreciation Fund Operations management budget Posi Pandemic Recovery Fund Redundancy Fund Sickness Cover Volunteer fvnd 2.587 5,000 90 344 3,300 19,000 2,587 5,000 13,92SI 3,925 344 13,3001 ,514 (1,5141 (21 19,000 6,428 80,000 79,440 2.500 500 {6,4281 (80.(K)01 7,694 87,134 2.51)0 (500) (77.095) 199,191 {5,4411 116.655 Totsl unrestricted funds 270,956 349,018 (333,2421 286,732 Restrl¢ted funds Page 32 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 Bal&nee ai I April 2023 Incoming resources Resources expended Balgnce ai 31 March 2024 Tr8n$f¢rs ABC Action for Children Carers Advice on Benefits Citizens Advice COI. grant Devon Advice Services for Working Age Carers Devon Growing Commuities Fund Ernpower Energy Advice Programme Macmillan Energy Ouireach Projeci Exeter Foodbank National Lottery Awards for All grant National Lottery COL grant One Devon Torbay Managemenl 12,500 13,190 24,300 15,000 33,005 1,000 711 22,050 69,248 1,730 6,247 9,993 67,713 1,750 42,883 (12,500) (13,1901 (24,3001 (15,0001 (33,0051 { 1.0001 (7111 (22,0501 (69,2481 11,7501 {6,2471 {9,9931 (67.7131 (1,7501 (42.8831 Total restricted funds 321,340 (321,3401 Total funds 270 956 670,358 (654,5821 286,732 Page 33 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 Balance at April 2022 Incoming resources Resources expended Balgnce at 31 Mareh 2023 Transfers Unrestricted funds General Unrestricted funds 76,898 353,768 (354,483) (4,418) 71,765 Deslgmdied Advice for Life Capital Premises Fund Clienl Medi¢al Support Fund Hazel Ball Memorial Fund Innovalion Fund IT Replacement New Premises Depre¢iation Fund Operations management budgei Post Pandemic Recovery Fund Redundancy Fund Sickness cover Volunteer fund 2,587 25,000 90 374 3,300 19,000 2.587 5.000 90 344 3,300 19.000 (4,1301 {15,870) {301 12,9961 (3,5711 2,996 3.571 6,428 72,000 73,8()0 2,500 500 6,428 80,000 79.440 2.500 500 8.000 5.550 843 (8431 205,671 (11.5701 5.090 199,191 Totsl unrestrieted funds 282,569 353,768 (366.053) 672 270.956 Restricted Page 34 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 Balance at I April 2022 Incoming resources Resources expended Bmlance #t 31 March 2023 Transfers Action for Children Big Energy Saving Network Fund Carbon Monoxide Advice Projeci Carers Income Maximisaiion Partner Payments Carers Income Maximisalion Carers Advice on Benefits Citizens Advice Torbay Devon Advice Services for Working Age Carers Devon Ma¢millan Empow¢r F.nergy Advice Programme Help lo Claim Macmillan 10,500 875 ,725 16,798 37,700 14,759 31,975 30,176 28,611 8,515 10,000 (10,500) (875) (8,725) (16,798) (37,700) (14,759) (31,975) (30,176) (28,611) (8,5 l J) (10,000) 1,103 11,103) (431) 431 14.028 (14,028} Total r¢$trlcted funds 672 212.662 (212,6621 (672) Tot￿1 funds 566,430 (578,715) 270,956 Page 35 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 Designated Funds Tn￿teeS have made the following provisions.. Advice for Life - a fi￿d to support the development of new income generation initiatives. Capitsl Premises Fund - a fund to cover th¢ on-going costs of maintsining the Charitys premi%s. Client Medical Support Fund - a fund to sup]x)rt clients to obtain medical evidence to support disability laims and appeals. Post Pandemic Recovery Fund - a fimd to be used for additional advice capacity and staffing a5 we move into the recovery. phase of our pandemic response. Hazel Ball Memorial Fund - a fund in memory of our fom)er Irusiee. Hazel Ball. to be used to recognise the ontribulion of our volun￿erS. Innovation Fund - a fund to support the dcv¢lopm¢nt of new innovations in service delivery across the charity. IT Replacement Fund - a fwid for the on-going replacement of faulty equipment within the charity's IT systems. The fund is set at one third of the totsl replacement value. New Premises Depreciation Fund - a fimd to cover the costs of leasehold improvements, fixtures and fittings. This fund will be used to offsei costs against the depreciation charged on these capital iiems over their expected Useful economic life. Operations management budget - a designated fund to be used at the di￿retiOn of the Operation5 Manager to cover short tern] staffin& or other, financial commitments in order to maintain our services ReduDd%Dcy Futtd - for the purw of transparency and go(NJ governance, the ll￿Slees have created a fund io cover polential liabilities of the eharity as ai l April 2024. Slekness Cover fuDd - a fund io cover the oneryoff costs of staff sickness cover. Volullte¢r fund - a fund to SUp￿rt volunteer social events. The fimds come from sponsorship and fundraising. Page 36 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 Restricted Funds ABC - Funding from Devon County Council for a Carers appeals serrfice. Action for Children - a contractual arrdngemeni with Citizens Advice Devon (funda by Action for Children) to provide advice services in local Children's Centres. Big Energy Saving Network Fund - grani funding from Cittzens Advice to provide frontline worker traFning to people identified ls fuel poor or at risk of becoming fiEel poor. Carbon Monoxide Advice Projeet- grant funding from Citizens Advice to supw)rt ¢on5um¢rs in vulnerable situations and address carbon monoxide (CO} safety issues. Citizens Advice COL grant- Funding from national Citizens Advice for supFK)rting clients with the cost of living. Money w&$ used io maintain the drO￿lA and in¢rea5e outreach. C*rers Advice on Benefits- a cOntracft￿l arrdngemeni with CitizEns Advice Devon {fimded by tkvon Carers) to provide additional advi¢¢ s¢rvic¢5 for adult carers of all ages. Citizens Advice {M%PS) - grant fimding from the Money and Pensions Service {MaPS) lo support with additional debt advice capacity. Citizens Advice Torbay- income recelved to provide a shared management fun¢iion across both Exeler and Torbay Citizens Advice charities. Advirr Tvrrid8¢, Nvrth, Mid W￿¢ Ikvuu ill p￿rIllershIP with MarMillan Cancer Support - Provision of a holisiic welfare benefits. employment. housing. debt and generdl advice service for people affected by cancer. Devon Advice Serviees for Working Age Cattrs - funding provided by tkvon County Council through Citizens Advice Devon to provide an advice service for working age carers. D¢von Growing Communities Fund - Funding w&$ used to enhance outrcach opportunitie5 in the community. Empower - A grant from Citizens Advice South Hams to support those in fuel poverty. Energy Advice Pn)gramme - grant fimding from Citiztns Advice to provide advice %rvices to clients al risk of fuel poveity. Energy Outreach Project- To deliver energy advice and infornTrtion in an outreach setting to consumers. Exeter FoodbaDk- Funding supported Exeter F(M)dbank clients with benefits m&xtmisation and to manage their debts with a view lo them becoming less relianl on the fi)odbank. Help to Claim - grdnt funding from Citizens Advice to cover the delivery costs of a service to supw)rt Universal Credit claimants. National L￿ttery Awards for All - Funding from the National Lottery Community Fund for IT and equipment. National tA)ttery COL Grant - Funding was used io maintain the drop in and to increase our ¢ap¥ity to offer specialist debt advice. One Devon funding- NHS Southwest cosl of living community fimd grdnt fjjnding received for Exeter drop in service. Page 37 Exeter Citizens Advi¢¢ Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 Torbay Management- Income received to provide a shared management fi￿rtiOn across both Exeter and Torbay Citizens Advice charities. Page 38 Exeter Citizens Advice Bureau Notes to the Financial Statements for the Year Ended 31 March 2024 22 Analysis of net assets between funds Total fund$ 4¢ 31 M*reh 2024 Unre5tricled funds General Designated Restricted funds Fixed asset investments c￿￿ent assels Current liabilities 91.277 188.0411 283.495 10.770 (10,7701 385.542 (98,8111 Totsl nd assets 37 283.495 286.732 Total funds at 31 March 2023 Unrestricted funds General Designated Restrieted funds Tangible fixed ￿Sets Fixed asset investments Current &5sets Current liabilities 124.705 (52,9411 199,189 31,720 (31,720) 355.614 184.661) Total net assets 199,191 270.956 23 Related party transactions During the year the charity made the following related party transactions: Torbay Citizens Advice Bureau (Exeter Citizens Advice Bureau and ToTbay Citizens Advice Bureau are deemed to be related parties due to the key management personnel of the entities.) Key management services provided by Exeter Citizens Advice Bureau to Torbay Citizens Advice BU￿aU during the year totalled £42,884 (2023: £27226). The value of other expenditure rccharged to Torbay Citizens Advice Bureau during the year was £3,346 (2023.. £1,464). The value of expenditutt recharged lo Exeter Citizens Advice Bureau during the year was £nil (2023.. £7.046) Ai the balance sheet date the amouni from Torbay Cilizens Advice Bureau was £336 (2023 - £Nil). Page 39